Regulatory Alerts2021-10-07
Regulation to amend Regulation 81-102 respecting Investment Funds
The securities regulators amend Regulation 81-102 to update the definition of designated credit ratings and introduce definitions for U.S. GAAP and auditing standards. The amendment creates a new exemption allowing non-reporting investment funds to invest in other non-reporting funds without complying with standard conflict of interest restrictions, provided specific disclosure and financial reporting conditions are met. Additionally, the rules for dealer managed investment funds investing in reporting issuers are revised to require independent review committee approval and subsequent filing of investment particulars.
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