Regulatory Alerts2021-10-07
Regulation to amend Regulation 81-107 respecting Independent Review Committee for Investment Funds
Canadian securities regulators amended Regulation 81-107 to extend Independent Review Committee requirements to non-reporting investment funds and managed accounts. The amendments establish detailed exemptions from inter-fund self-dealing prohibitions and dealer registration requirements for specific transactions, including secondary market debt purchases and principal trades with related dealers. These changes impose strict conditions such as independent review committee approval, pricing benchmarks, and record-keeping obligations to mitigate conflicts of interest.
Share