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ARTICLE · 04 APRIL 2005

Important New Financial Reporting and Continuous Disclosure Requirements for Investment Funds

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The Canadian Securities Administrators have recently released National Instrument 81-106 <I>Investment Fund Continuous Disclosure </I>(the "<B>Instrument</B>") and Companion Policy 81-106CP (the "<B>Companion Policy</B>"), along with Form 81-106F1 <I>Contents of Annual and Interim Management Report of Fund Performance</I>.

CanadaFinance and Banking
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Article by by Michael Burns, Kimberly Poster and David Hudson, Student-at-Law

The CSA Releases National Instrument 81-106 Investment Fund Continuous Disclosure

Introduction

The Canadian Securities Administrators (the "CSA") have recently released National Instrument 81-106 Investment Fund Continuous Disclosure (the "Instrument") and Companion Policy 81-106CP (the "Companion Policy"), along with Form 81-106F1 Contents of Annual and Interim Management Report of Fund Performance. The Instrument sets out obligations for investment funds relating to financial statements, management reports of fund performance, delivery obligations, proxy voting disclosure, annual information forms and certain other disclosure related matters.

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