Regulatory Alerts2019-09-12
Draft Amendment to Policy Statement to Regulation 81-106 respecting Investment Fund Continuous Disclosure
Canadian securities regulators issued a draft amendment to Policy Statement to Regulation 81-106 to reduce regulatory burden for investment fund issuers by clarifying notice-and-access requirements. The amendment specifies that proxy solicitors must use notice-and-access only when appropriate, ensuring materials are presented in a user-friendly manner without substantive discussion of voting matters. It also mandates toll-free access to paper copies, restricts intentional data gathering from requests, and encourages consolidated delivery to investors holding multiple accounts to lower communication costs.
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