On September 12, 2019, the Canadian Securities Administrators (the "CSA") published a Notice of Consultation: Reducing Regulatory Burden For Investment Fund Issuers - Phase 2, Stage 1 (the "Publication") (PDF), for a 90-day comment period, which proposes draft amendments aimed at reducing the regulatory burden for investment fund issuers (the "Draft Amendments"). For a summary of this notice, please consult Fasken's bulletin: Reducing Regulatory Burden for Investment Fund Issuers.
The CSA did not publish blackline versions of the regulations and the policy statements that are affected by the Draft Amendments. As Fasken thought it would be useful for those wishing to comment on the Publication to be able to review the Draft Amendments in blackline versions, we are pleased to make available the following:
- Regulation 41-101 respecting General Prospectus Requirements (PDF) and Policy Statement to Regulation 41-101 respecting General Prospectus Requirements (PDF)
- Regulation 81-101 respecting Mutual Fund Prospectus Disclosure (PDF) and Policy Statement to Regulation 81-101 respecting Mutual Fund Prospectus Disclosure (PDF)
- Regulation 81-102 respecting Investment Funds (PDF) and Policy Statement to Regulation 81-102 respecting Investment Funds (PDF)
- Regulation 81-106 respecting Investment Fund Continuous Disclosure (PDF) and Policy Statement to Regulation 81-106 respecting Investment Fund Continuous Disclosure (PDF)
- Regulation 81-107 respecting Independent Review Committee for Investment Funds (PDF) and Policy Statement to Regulation 81-107 respecting Independent Review Committee for Investment Funds (PDF)
These blackline versions were created from the current official versions of the above Regulations and Policy Statements available on the website of the Autorité des marchés financiers. Please note that the versions of the equivalent National Instruments and Companion Policies in the other provinces and territories may differ slightly. Also note that, although we used reasonable efforts to ensure the above versions accurately reflect the Draft Amendments, Fasken does not guarantee such accuracy.
Fasken is working on a comment letter to the CSA. If you have comments on the Draft Amendments, but do not wish to submit a comment letter, we invite you to send your comments to us and we will consider whether we can include them in our letter.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.