Exchange-traded fund (ETF) managers are
reminded that, as of September 1, 2017, they will be required to
file an "ETF Facts" document in conjunction with the
filing of any ETF prospectus.
Similar to "Fund Facts" for conventional mutual funds,
"ETF Facts" are summary disclosure documents for ETFs.
Amendments to National Instrument 41-101 General Prospectus
Requirements came into force on March 8, 2017
(Amendments) and established the regime and
content requirements under which ETF Facts must be produced and
delivered. The Amendments also serve to replace the disclosure
regime that has previously been in place for ETFs. Such previous
disclosure regime required ETF managers to obtain exemptive relief
and to produce, for delivery through selling dealers, an ETF
"Summary Document". Delivery by a dealer of a Summary
Document, and now ETF Facts, to a purchaser of an ETF security
within required time frames satisfies the prospectus delivery
requirement under applicable
