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Temporary relief from certain regulatory filings available to investment funds and non-investment fund issuers due to COVID-19

  • Securities - CSA Image

May 20, 2020

On May 20, 2020, the Canadian Securities Administrators (CSA) published two blanket orders that provide investment funds and non-investment fund issuers with temporary relief from certain regulatory filings and delivery obligations, as a result of the COVID-19 pandemic. The conditions of the relief are substantially the same as the temporary relief announced on March 23, 2020, but the relief is only applicable to issuers and investment funds with filing deadlines in the periods described below.

For investment funds, the blanket relief provides a 60-day extension for certain filing, delivery and prospectus renewal obligations normally required to be made during the period from June 2, 2020 to September 30, 2020.

For non-investment fund issuers, the blanket relief provides a 45-day extension for certain filing, delivery and base shelf prospectus renewal obligations normally due or required to be made during the period from June 2, 2020 to August 31, 2020.

Investment funds and non-investment fund issuers that have already used the prior relief announced on March 23, 2020 to extend any filing, delivery and prospectus renewal deadline occurring on or before June 1, 2020 cannot use this relief to further extend the deadline.

Additionally, to rely on the relief, non-investment fund issuers must issue a news release before the required filing deadline and comply with other conditions. Issuers and their counsel are encouraged to review the respective orders to ensure compliance with these conditions.

Re­view the press re­lease on the CSA's web­site.

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