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81-107, Independent Review Committee for Investment Funds

Effective date:

November 1, 2006, ex­cept for sub­se­quent amend­ments

Published by CSA:

November 10, 2006


This in­stru­ment requires every public investment fund to have a fully independent body, called an Independent Review Committee, whose role is to oversee all decisions involving an actual or perceived conflict of interest faced by the fund manager in the operation of the fund. The instrument sets out an independent oversight regime for all publicly offered investment funds that is intended to improve investment fund governance in Canada.

Recent developments




November 10, 2006

Issue of NI 81-107

NI 81-107, Independent Investment Review Committee for Investment Funds, issued. The instrument is effective November 10, 2006.

Note: The above summary of Recent Developments does not include consequential amendments made as the result of other projects.

For further details on the history of this Instrument, please refer to the OSC’s Web site.

Amendments under consideration


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.