Regulatory Alerts2019-09-12
Draft Regulation to Amend Regulation 81-102 Respecting Investment Funds
Canadian securities regulators issued this draft regulation to reduce regulatory burden for investment fund issuers by amending Regulation 81-102. The amendments redefine designated credit ratings, exempt non-reporting investment funds from certain conflict of interest restrictions when investing in other funds, and clarify prospectus distribution requirements. Additionally, the rules are updated to permit specific payments involving the delivery of portfolio securities to mutual funds and managed accounts under strict conditions regarding independent review, pricing, and record-keeping.
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