Charles Wesley Moore Scott

The applicant, Integra Capital Limited, applied to the Ontario Securities Commission on behalf of several funds for relief from the mutual fund conflict of interest investment restrictions under paragraphs 111(2)(b) and 111(3) of the Securities Act.

The applicant sought to permit the funds to employ a fund-on-fund structure and invest in underlying funds under common management.

The Commission granted the requested relief, subject to conditions including that the funds are distributed solely pursuant to prospectus exemptions and that no duplicative management or sales fees are payable.

The applicants, an investment fund manager and a mutual fund, applied for a decision that the mutual fund cease to be a reporting issuer.

The mutual fund was not eligible for the simplified process because it had more than 50 securityholders.

The mutual fund's securities were distributed exclusively to managed accounts fully managed by the manager on an exempt basis.

The Ontario Securities Commission granted the requested exemptive relief, allowing the mutual fund to cease being a reporting issuer.

The applicant, manager of several mutual funds, applied to the Ontario Securities Commission for exemptive relief under section 147 of the Securities Act to extend the lapse date of the funds' simplified prospectus.

The extension was requested to allow the funds to complete proposed mergers and amalgamations without the need to renew the prospectus for a period of less than a month.

The Commission granted the requested exemption, finding that the extension would not affect the currency or accuracy of the prospectus information and would not be prejudicial to the public interest.

Franklin Templeton Investments Corp. applied for exemptive relief from subsection 5.1(a) of National Instrument 81-105 to permit it to pay participating dealers direct costs for Cooperative Marketing Initiatives whose primary purpose is providing educational information concerning tax or estate planning matters.

The Ontario Securities Commission granted the exemption, subject to conditions including that the information provided is general, no sales are required, and the exemption expires in two years.