Regulatory Alerts2019-09-12
Draft Regulation to Amend Regulation 81-101 Respecting Mutual Fund Prospectus Disclosure
The securities regulators have issued a draft regulation to amend Regulation 81-101 regarding mutual fund prospectus disclosure to reduce regulatory burden. The amendments require mutual funds to post specific information exclusively on their designated website, replacing previous provisions that allowed posting on any fund or family website. Additionally, Form 81-101F3 is updated to reflect this change by specifying the insertion of the mutual fund's designated website in relevant statements.
REGULATION TO AMEND REGULATION 81-101 RESPECTING MUTUAL FUND PROSPECTUS DISCLOSURE Securities Act (chapter V-1.1, s. 331.1, par. (2), (4.1), (8), (19.5), (20) and (34))
- Section 2.3.1 of Regulation 81-101 respecting Mutual Fund Prospectus Disclosure (chapter V-1.1, r. 38) is amended: (1) by replacing, in paragraph (1), the words “If a mutual fund or the mutual fund’s family has a website, the mutual fund must post to at least one of those websites” with the words “A mutual fund must post on its designated website”; (2) by replacing, in paragraph (2), the words “posted to the website” with the words “posted on the designated website”; (3) by repealing paragraph (3).
- Form 81-101F3 of the Regulation is amended by replacing, in the statement under paragraph (e) of item 1 of Part I, the words “[insert the website of the mutual fund, the mutual fund’s family or the manager of the mutual fund] [as applicable]” with the words “[insert the mutual fund’s designated website]”.
- This Regulation comes into force on (indicate here the date of coming into force of this Regulation).
Share