Exemptive relief granted to permit Top Funds to invest in Underlying Funds despite substantial security holder restrictions.
The Filer applied for exemptive relief on behalf of certain Top Funds to permit them to invest in Underlying Funds, which would otherwise be prohibited by the restriction against an investment fund knowingly making an investment in a person or company in which it is a substantial security holder.
The Ontario Securities Commission granted the requested relief, subject to conditions including that the Top Funds are distributed solely pursuant to prospectus exemptions and that no duplicative management or incentive fees are payable.
Exemptive relief granted from prospectus and registration requirements for a French issuer's employee share offering.
The filer, a French issuer, applied for relief from the prospectus and dealer registration requirements in connection with a global employee share offering.
The offering involved the use of collective employee shareholding vehicles (FCPEs) under French law, preventing reliance on standard exemptions.
The Ontario Securities Commission granted the requested relief, subject to conditions regarding the first trade of the securities.
Exemption from insider reporting requirements granted for dispositions under an automatic securities disposition plan.
The applicant, Genworth MI Canada Inc., applied for exemptive relief from insider reporting requirements under the Securities Act for its insider, Genworth Financial, Inc. The relief was sought in connection with an automatic securities disposition plan used to facilitate dispositions pursuant to a normal course issuer bid.
The Ontario Securities Commission granted the exemption, provided that the insider files a report disclosing all dispositions within 90 days of the termination of the plan.
