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ARTICLE · 11 JULY 2012

Canadian Securities Administrators Propose Amendments To Investment Fund Rules

On June 25, 2010, the CSA published for comment proposed changes to National Instrument 81-102 – "Mutual Funds" and National Instrument 81-106 – "Investment Fund Continuous Disclosure".

CanadaFinance and Banking

On June 25, 2010, the Canadian Securities Administrators (CSA) published for comment proposed changes to National Instrument 81-102 – Mutual Funds (NI 81-102) and National Instrument 81-106 – Investment Fund Continuous Disclosure (NI 81-106), along with consequential amendments to certain other instruments governing investment funds. The proposed amendments represent the first of two phases of the CSA's larger project of modernizing the regulation of conventional mutual funds and other investment funds. In phase one of this project, the CSA proposes to codify exemptive relief that has frequently been granted to mutual funds from certain requirements of NI 81-102, create additional operational requirements for money market funds, update various provisions and remove provisions that are no longer relevant.

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