Regulatory Alerts2019-09-12
Draft Regulation to Amend Regulation 81-101 Respecting Mutual Fund Prospectus Disclosure
Securities regulators have issued a draft regulation to amend Regulation 81-101 regarding mutual fund prospectus disclosure requirements. The changes modify the obligations for delivering personal information forms for directors, executive officers, and promoters of mutual funds and their promoters. Additionally, the amendment introduces an exemption allowing mutual funds to skip delivering these forms if the relevant individuals have already submitted Form 33-109F4 under Regulation 33-109.
REGULATION TO AMEND REGULATION 81-101 RESPECTING MUTUAL FUND PROSPECTUS DISCLOSURE Securities Act (chapter V-1.1, s. 331.1, par. (1) and (4.1))
- Section 2.3 of Regulation 81-101 respecting Mutual Fund Prospectus Disclosure (chapter V-1.1, r. 38) is amended: (1) by replacing subparagraph (ii) of subparagraph (b) of paragraph (1) with the following: “(ii) a personal information form for: (A) each director and executive officer of the mutual fund; (B) each promoter of the mutual fund; (C) each director and executive officer of the promoter, if the promoter is neither an individual nor the manager of the mutual fund,”; (2) by inserting, after paragraph (1), the following: “(1.0.1) A mutual fund is not required to deliver a personal information form for an individual referenced in subparagraph (1)(b)(ii) if the individual has submitted a Form 33-109F4 under Regulation 33-109 respecting Registration Information (chapter V-1.1, r. 12).”; (3) by replacing subparagraph (iv) of subparagraph (b) of paragraph (2) with the following: “(iv) a personal information form for: (A) each director and executive officer of the mutual fund; (B) each promoter of the mutual fund; (C) each director and executive officer of the promoter, if the promoter is neither an individual nor the manager of the mutual fund, and”; (4) by inserting, after paragraph (2), the following: “(2.0.1) A mutual fund is not required to deliver a personal information form for an individual referenced in subparagraph (2)(b)(iv) if the individual has submitted a Form 33-109F4 under Regulation 33-109 respecting Registration Information.”.
- This Regulation comes into force on (indicate here the date of coming into force of this Regulation).
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