Regulatory Alerts2024-11-28
Amendments to Policy Statement to Regulation 81-102 respecting Investment Funds
Canadian securities regulators amended Policy Statement to Regulation 81-102 to explicitly prohibit investment fund managers from charging redemption fees based on the initial sales charge option. This clarification ensures that managers cannot impose such fees on securityholders when redeeming mutual fund securities. The prohibition does not apply to fees charged by the mutual fund itself, such as those for short-term trading or large redemption orders.
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