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ARTICLE · 14 JULY 2014

The CSA Extend Elements Of Mutual Fund Regulation To Closed-End Funds

Blake, Cassels & Graydon LLP
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On June 19, 2014, the Canadian Securities Administrators published the final instalment of the amendments (Amendments) to National Instrument 81-102.

CanadaFinance and Banking
Blakes Investment Products & Asset Management Group
Blakes Investment Products & Asset Management Group
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On June 19, 2014, the Canadian Securities Administrators (CSA) published the final instalment of the amendments (Amendments) to National Instrument 81-102 (NI 81-102) and the Companion Policy 81-102 CP (CP) (and consequential amendments to other instruments) bringing to an end stage one of Phase 2 of the CSA's Modernization of Investment Fund Product Regulation Project (Modernization Project). The key components of the Amendments, first published for comment on March 27, 2013 (2013 Proposals), introduce core operational requirements and fundamental investment restrictions for closed-end funds (CEFs). Subject to transition and grandfathering provisions noted below, the Amendments will come into force on September 22, 2014.

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