Regulatory Alerts2021-12-23
Amendment to Policy Statement to Regulation 81-102 respecting Investment Funds
Canadian securities regulatory authorities have amended Policy Statement to Regulation 81-102 to reduce regulatory burden for investment fund issuers. The changes clarify that certain investment restrictions and reporting requirements do not apply to non-reporting issuers investing in other non-reporting funds, and provide guidance on debt security pricing during the post-distribution period. Additionally, the authorities replaced Section 7.2 to confirm that fund mergers meeting specific conditions do not require prior regulatory approval, provided the manager determines the transaction is in the fund's best interest and associated costs are not borne by the fund.
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