Regulatory Alerts2019-09-12
Draft Amendment to Policy Statement 81-107 respecting Independent Review Committee for Investment Funds
The Canadian Securities Administrators issued this draft amendment to Policy Statement 81-107 to reduce regulatory burdens for investment fund issuers by clarifying exemptions for inter-fund trades. The changes explicitly require non-reporting investment funds to appoint an Independent Review Committee to approve inter-fund trades and principal debt transactions, ensuring compliance with specific regulatory sections. These amendments extend existing exemptions to managed accounts and non-reporting funds while establishing minimum governance standards for approving related issuer transactions.
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