Regulatory Alerts2021-10-07
Regulation to amend Regulation 41-101 respecting General Prospectus Requirements
The securities regulators amend Regulation 41-101 to exempt dealers from delivering ETF facts documents for subsequent purchases made through pre-authorized purchase plans, portfolio rebalancing plans, managed accounts, permitted clients, and automatic switch programs. These exemptions require dealers to provide specific notices regarding document availability, electronic access, and the loss of withdrawal rights, while mandating annual written notifications on how to request the most recent facts document. The amendments also introduce new disclosure requirements in Appendix F for automatic switch programs and establish a January 5, 2022 effective date for these delivery relief measures.
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