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ARTICLE · 31 JULY 2006

Investment Funds @ Gowlings – July 2006

Gowling WLG
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Legal and regulatory matters affecting investment funds.

CanadaFinance and Banking
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Edited by Paul A. Dempsey

Contents

  • Proposed Soft Dollar Rule
  • CSA Staff Notice on Principal Protected Notes
  • MFDA Notice on Undivided Interests in Land
  • OSC Staff Notice on LMDs
  • OSC Staff Notice on Model Portfolios

Proposed Soft Dollar Rule

On July 21, 2006 the Canadian Securities Administrators (the "CSA") published for comment proposed National Instrument 23-102 – Use of Client Brokerage Commissions as Payment for Order Execution Services or Research ("Soft Dollar" Arrangements) and Companion Policy 23-102 (the "Soft Dollar Rule"). The Soft Dollar Rule would clarify how advisers and registered dealers can use client brokerage commissions and include guidelines regarding disclosure of "soft dollar" arrangements.

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