Regulatory Alerts2022-01-27
CSA Notice of Consultation: Regulation to amend Regulation 81-101 respecting Mutual Fund Prospectus Disclosure - Modernization of the Prospectus Filing Model for Investment Funds
The Canadian Securities Administrators propose modernizing the prospectus filing model for investment funds in continuous distribution by extending the prospectus lapse date from 12 to 24 months and repealing the 90-day final prospectus filing rule. These Stage 1 amendments aim to reduce unnecessary regulatory burden and costs for fund issuers while maintaining investor protection through continued annual filing and delivery of Fund Facts and ETF Facts documents. The CSA is also seeking feedback on a potential Stage 2 base shelf prospectus filing model and requires concurrent changes to local fee rules to ensure no negative impact on filing revenues.
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