OSC publishes Fund Facts FAQ

The OSC yesterday released a set of frequently asked questions, and associated responses, to assist issuers in using Fund Facts to satisfy the requirements to deliver a prospectus. As we discussed last month, amendments allowing for delivery of Fund Facts, which represent Stage 2 of the CSA's point of sale disclosure framework, came into force on September 1 and will be phased in over the next few years. The FAQ covers issues such as filing of amended Funds Facts, reliance on delivery of Fund Facts prior to the final implementation date of June 13, 2014 and reliance on prior relief granted from prospectus delivery requirements for pre-authorized purchase plans. For more information, see OSC Staff Notice 81-721.