OSC takes action to reduce burden for investment fund managers
Jun 27, 2019
On June 27, 2019, the Ontario Securities Commission (OSC) announced that, effective immediately, it will no longer require investment fund managers of pooled funds to apply for approval to act as trustees. As registrants, investment fund managers are capable of acting as trustees and are already subject to a securities regulatory framework for safeguarding the assets of pooled funds.
Revised Approval 81-901 Mutual Fund Trusts: Approval of Trustees Under Clause 213(3)(b) of the Loan and Trust Corporations Act which sets out this change, can be found on the OSC’s website. The change will come into effect immediately.
Review the press release on the OSC's website.