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ARTICLE · 22 MARCH 2005

Canadian Securities Regulators to Implement Continuous Disclosure Rule for Investment Funds

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Canadian securities regulators have announced that they expect to implement on June 1, 2005 a national rule that will impose important new uniform continuous disclosure requirements on all listed and unlisted investment funds that are sold to retail investors.

CanadaFinance and Banking
Patricia Koval
Patricia Koval
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Canadian securities regulators have announced that they expect to implement on June 1, 2005 a national rule that will impose important new uniform continuous disclosure requirements on all listed and unlisted investment funds that are sold to retail investors. In some provinces and territories, including Ontario, some parts of the rule will apply to privately offered mutual funds (pooled funds).

National Instrument 81-106, Investment Fund Continuous Disclosure, will apply to all investment funds, including mutual funds (that is, funds that are redeemable by reference to their net asset value, usually on a quarterly or more frequent basis), closed-end funds, exchange-traded funds (including those with limited redeemability), split-share corporations, certain limited partnerships investing in flow-through shares, scholarship plans, labour-sponsored funds and venture capital funds. This represents a significant change for closed-end and exchange-traded funds, which may have previously

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