Regulatory Alerts2019-09-12
Draft Regulation to Amend Regulation 81-101 Respecting Mutual Fund Prospectus Disclosure
The Canadian securities regulators issued this draft regulation to amend Regulation 81-101, reducing regulatory burden for investment fund issuers by eliminating the annual information form requirement. The amendments replace existing definitions and filing requirements to mandate that mutual funds file simplified prospectuses and fund facts documents instead of annual information forms. Additionally, the document updates certificate interpretations, prohibits soliciting interest with multiple simplified prospectuses, and replaces Form 81-101F1 with detailed disclosure standards for simplified prospectuses.
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