Regulatory Alerts2019-01-03
Policy Statement to Regulation 81-107 Respecting Independent Review Committee for Investment Funds
The Canadian Securities Administrators issued this policy statement to provide non-binding commentary on Regulation 81-107, which mandates Independent Review Committees for investment funds. The document clarifies definitions for conflicts of interest and independence, requiring managers to refer specific conflict matters to the committee and maintain robust written policies and records. It further outlines the operational standards for the committee, including its composition, charter requirements, and the exclusive authority of members to determine their own compensation to ensure independence.
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