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ARTICLE · 12 JUNE 2013

CSA Release Proposals Under Phase 2 Of Fund Modernization Project – Implications For Closed End Funds And Alternative Funds

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This review is part of the Fund Modernization Project, a mandate of the CSA to consider whether product and market developments in the Canadian investment fund industry are being adequately addressed by the current regulatory regime.

CanadaCorporate/Commercial Law
Pierre-Yves ChâTillon
Pierre-Yves ChâTillon
Tracy Hooey
Tracy Hooey
Daniel Fuke
Daniel Fuke
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Introduction

In the course of their ongoing review of publicly offered investment funds, the Canadian Securities Administrators (CSA) published on March 27, 2013 a Notice and Request for Comments on amendments to National Instrument 81-102 Mutual Funds (NI 81-102) and consequential amendments to National Instrument 41-101 General Prospectus Requirements (NI 41-101) and its Form 41 102F2 (the 81-102 Proposals).  These amendments introduce core operational requirements for publicly offered non-redeemable "closed-end" investment funds (CEFs) (other than scholarship funds) and related disclosure changes.  Comments on the 81-102 Proposals are due on or before June 25, 2013.

This review is part of the Fund Modernization Project, a mandate of the CSA to consider whether product and market developments in the Canadian investment fund industry are being adequately addressed by the current regulatory regime.

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