Regulatory Alerts2024-08-01
Changes to Policy Statement to Regulation 81-102 respecting Investment Funds
Securities regulators amended Policy Statement to Regulation 81-102 to provide examples of how mutual funds can satisfy the requirement to make their reference settlement date available in writing. The amendment specifies that funds may disclose their settlement cycle through recognized clearing agencies like Fundserv Inc. or by posting the information on their designated websites. These changes clarify compliance methods for mutual funds regarding the disclosure of settlement dates under subsection 9.4(0.1) of the Regulation.
1 CHANGES TO POLICY STATEMENT TO REGULATION 81-102 RESPECTING INVESTMENT FUNDS
- Section 10.2 of Policy Statement to Regulation 81-102 respecting Investment Funds is changed by adding, after paragraph (3), the following: “(4) Examples that could satisfy the requirement for a mutual fund to make available in writing the business day it determines as the reference settlement date under subsection 9.4(0.1) of the Regulation include (a) providing the mutual fund’s settlement cycle via a clearing agency or a clearing house recognized by a securities regulatory authority in a jurisdiction, which includes Fundserv Inc., or a successor, through an electronic file or otherwise, and (b) posting the mutual fund’s settlement cycle on the mutual fund’s designated website.”.
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