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ARTICLE · 31 JULY 2013

OSC Releases Guidance On Sales Communications By Investment Funds

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On July 18, 2013, as part of an ongoing review of advertising and marketing materials of publicly offered investment funds, staff of the Investment Funds Branch released OSC Staff Notice 81-720 (the Notice).

CanadaFinance and Banking
Jason A. Chertin
Jason A. Chertin
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On July 18, 2013, as part of an ongoing review of advertising and marketing materials of publicly offered investment funds, staff of the Investment Funds Branch released OSC Staff Notice 81-720 (the Notice). The Notice relates to a targeted continuous disclosure review that commenced in May 2012, of sales communications of eight medium to large mutual fund groups, four smaller fund groups and several specialty funds. Included in the review were conventional mutual funds, closed-end funds, ETFs, commodity pools and labour sponsored funds.

Staff reviewed newspapers, presentations, brochures, internet ads, social media, websites, radio and television ads, emails and greensheets. The stated objective of the review was to raise awareness among market participants that sales communications are monitored on an ongoing basis and to provide guidance on staff's interpretation of existing rules.

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