The filer applied for exemptive relief from the requirements of sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 to permit the use of Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds.
The exemption was required because Lipper ratings are not calculated for a one-year period, making it impossible to comply with the matching requirement, and the timing of the awards publication conflicts with the timing restrictions in the instrument.
The principal regulator granted the exemption subject to specific disclosure conditions.
