Regulatory Alerts2022-06-01
Added · Updated
Policy Statement to Regulation 81-105 Respecting Mutual Fund Sales Practices
The Canadian securities regulatory authorities issued this policy to establish minimum standards of conduct for mutual fund sales practices, aiming to eliminate conflicts of interest and ensure recommendations align with client best interests. The document clarifies that the regulation prohibits direct and indirect payments, non-monetary benefits, and expense reimbursements to dealers and representatives in connection with the distribution of mutual fund securities. It further defines key terms such as 'representative' and 'non-monetary benefits' while providing specific exemptions for certain internal arrangements and labor-sponsored venture capital corporations.
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