Regulatory Alerts2019-01-03
Regulation 81-107 respecting Independent Review Committee for Investment Funds
The Quebec securities regulator issued Regulation 81-107 to mandate that reporting investment funds establish an independent review committee to oversee conflicts of interest. The regulation defines the committee's composition, independence criteria, and fiduciary duties while requiring managers to refer specific matters for review and provide necessary assistance. It further establishes procedures for committee appointments, decision-making, compensation, and the payment of related expenses from fund assets.
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