Regulatory Alerts2021-10-07
Amendment to Policy Statement to Regulation 81-102 respecting Investment Funds
The Canadian securities regulatory authorities amended Policy Statement to Regulation 81-102 to clarify the conditions under which investment fund mergers may proceed without prior regulatory approval. The update specifies that brokerage commissions incurred during necessary portfolio realignments constitute transaction costs that must not be borne by the investment fund. Managers are required to determine that such transactions are in the best interests of the fund and disclose this view to securityholders in the provided materials.
Share