Regulatory Alerts2022-02-03
Regulation to Amend the Securities Regulation Concerning Modernization of the Prospectus Filing Model for Investment Funds
The Autorité des marchés financiers has published draft amendments to the Securities Regulation that replace current prospectus filing fees for investment funds in continuous distribution with new fees for Fund Facts and ETF Facts. These changes align Québec’s filing fee structure with proposed Canadian Securities Administrators modernization measures to prevent adverse financial impacts on market participants. The Authority invites written public comments until April 27, 2022, before submitting the finalized regulation to the Government for approval.
Draft Regulation Securities Act (chapter V-1.1, s. 331, par. (9), s. 331.1, pars. (1), (3) and (9), and s. 331.2) Regulation to amend the Securities Regulation Notice is hereby given by the Autorité des marchés financiers (the "Authority") that, in accordance with section 331.2 of the Securities Act, chapter V-1.1, the following Regulation, the text of which is published hereunder, may be made by the Authority and subsequently submitted to the Government for approval, with or without amendment, after 83 days have elapsed since its publication in the Bulletin of the Authority:
- Regulation to amend the Securities Regulation. Context The present publication is in relation to the CSA notice of consultation regarding the Modernization of the Prospectus Filing Model for Investment Funds dated January 27, 2022. As mentioned in this notice, the objective of the proposed amendments to the Securities Regulation is to replace the current filing fees for prospectuses for investment funds in continuous distribution with filing fees for the Fund Facts and the ETF Facts. These amendments are necessary to avoid any negative impact on applicable Québec filing fees that could result from the proposed amendments set out in the CSA notice. Request for comment Comments regarding the above may be made in writing by April 27, 2022, to the following: Me Philippe Lebel Secrétaire et directeur général des affaires juridiques Autorité des marchés financiers Place de la Cité, tour Cominar 2640, boulevard Laurier, bureau 400 Québec (Québec) G1V 5C1 Fax : (514) 864-6381 E-mail : consultation-en-cours@lautorite.qc.ca Further information Further information is available from: Olivier Girardeau Senior Analyst, Investment Funds Oversight Autorité des marchés financiers Tel: 514 395-0037, ext. 4334 Toll-free: 1 877 525-0337 olivier.girardeau@lautorite.qc.ca
Louis-Philippe Nadeau Analyst, Investment Funds Oversight Autorité des marchés financiers Tel: 514 395-0337, ext. 2479 Toll-free: 1 877 525-0337 louis-philippe.nadeau@lautorite.qc.ca February 3, 2022