Regulatory Alerts2024-01-18
Draft Amendments to Policy Statement to Regulation 81-102 respecting Investment Funds
The Canadian securities regulatory authorities issued draft amendments to Policy Statement 81-102 to clarify the definition of crypto assets and update regulatory expectations for investment funds. The changes permit mutual funds to invest in crypto assets listed on recognized exchanges or derivatives while imposing strict custody standards requiring specialized infrastructure, segregated key storage, and robust cyber security measures. Additionally, the amendments specify that SOC-2 Type II reports satisfy external audit requirements for custodians holding crypto assets and update French legal terminology throughout the document.
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