Darren McKall

The Filer, on behalf of two ETFs, applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of their prospectus from March 31, 2023, to April 30, 2023.

Due to organizational changes, the Filer inadvertently filed its pro forma prospectus late.

The Commission granted the requested relief, finding it would not be prejudicial to the public interest.

Franklin Templeton Investments Corp. applied for exemptive relief on behalf of several mutual funds and ETFs.

The applicant sought an exemption from the requirement to file a long form prospectus for ETF securities, provided a simplified prospectus is filed.

The applicant also sought relief from the sales and redemptions requirements of National Instrument 81-102 to treat ETF securities and mutual fund securities as separate funds for compliance purposes.

The Ontario Securities Commission granted the requested relief, subject to conditions.

The filer applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the current prospectus for several terminating exchange-traded funds (ETFs).

The extension was sought to align the lapse date with the anticipated merger of the terminating ETFs into corresponding continuing funds, thereby avoiding unnecessary costs and investor confusion.

The Commission granted the requested exemption, extending the lapse date to July 21, 2023.

The applicant, Franklin Templeton Investments Corp., applied for exemptive relief on behalf of several continuing mutual funds to permit their new exchange-traded fund (ETF) series to use the past performance data, financial information, and start dates of corresponding terminating ETFs.

The terminating ETFs were merging into the ETF series of the continuing funds.

The Ontario Securities Commission granted the requested relief, allowing the continuing funds to include the terminating ETFs' historical data in their simplified prospectuses, ETF Facts, management reports of fund performance, and other fund communications, provided certain disclosure conditions were met.

The applicant, on behalf of an alternative mutual fund, applied for exemptive relief to extend the lapse date of its current prospectus.

The extension was requested to allow the fund to hold a special meeting of unitholders to consider proposed changes to its investment objectives before preparing and filing a renewal prospectus.

The principal regulator granted the requested exemption, finding it would not be prejudicial to the public interest as it would ensure the renewal prospectus accurately reflects the fund's investment objectives following the meeting.

The Filer, an investment fund manager, applied for exemptive relief on behalf of its funds from the margin deposit restrictions in sections 6.8(1) and 6.8(2)(c) of National Instrument 81-102.

The relief sought to permit the funds to deposit up to 35% of their net asset value as margin with any one dealer, and up to 70% in aggregate with all dealers, for transactions involving Exchange Traded Specified Derivatives.

The Ontario Securities Commission granted the requested relief, finding it would not be prejudicial to the public interest and would allow the funds to pursue their investment strategies more efficiently.

The filer applied for exemptive relief to extend the lapse dates of the simplified prospectuses for certain fixed income and alternative funds, and to permit the consolidation of the simplified prospectus for alternative mutual funds with that of conventional mutual funds.

The principal regulator granted the requested exemptions, finding that the extensions and consolidation would reduce costs and streamline disclosure without prejudicing investors.

The applicant, CI Investments Inc., applied for exemptive relief on behalf of its investment funds to permit them to invest in US-listed exchange-traded funds that are not index participation units.

The Ontario Securities Commission granted the relief, exempting the funds from the control restriction and the requirements that underlying funds be subject to NI 81-102 and be reporting issuers in Canada.

The relief was granted subject to conditions, including that no more than 10% of a fund's net asset value be invested in such underlying ETFs.

The Filer applied on behalf of the ETF for exemptive relief from the concentration restriction in subsection 2.1(1) of National Instrument 81-102.

The relief was sought to permit the ETF to replicate the performance of an equal weight Canadian bank index, which would require investing more than 10% of its net asset value in individual bank securities.

The principal regulator granted the exemption, noting the ETF's passive, transparent strategy and the high liquidity of the underlying bank securities, subject to specific disclosure and operational conditions.

The applicant, Blackrock Asset Management Canada Limited, applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the prospectus for certain exchange-traded mutual funds.

The extension was sought to align the renewal timeframe of these ETFs with other funds managed by the applicant, thereby reducing costs and streamlining operations.

The Commission granted the requested relief, finding it met the test set out in the legislation and would not be prejudicial to the public interest.

The Filer, Brandes Investment Partners & Co., applied on behalf of the T. Rowe Price Global Allocation Fund for exemptive relief from paragraphs 2.5(2)(a) and 2.5(2)(c) of National Instrument 81-102.

The relief sought to permit the Fund to invest up to 10% of its net asset value in the T. Rowe Price Dynamic Global Bond Fund, a U.S. registered investment company that is not subject to NI 81-102 and is not a reporting issuer in any Canadian jurisdiction.

The Ontario Securities Commission granted the exemption, finding that the investment would provide greater choice, improved portfolio diversification, and potentially enhanced returns, subject to conditions including that the investment aligns with the Fund's objectives and does not exceed the 10% threshold.

The Filer applied on behalf of the ETF for exemptive relief from the concentration restriction in subsection 2.1(1.1) of National Instrument 81-102.

The relief was sought to permit the ETF to replicate a multiple of a rules-based, equal-weight Canadian bank index, following a proposed change to its investment objective.

The principal regulator granted the exemption, subject to conditions including unitholder approval of the objective change and specific prospectus disclosure.

The applicant, an investment fund manager, applied for exemptive relief to extend the lapse date of the simplified prospectus for a mutual fund from April 20, 2023, to April 26, 2023.

The extension was requested to align the fund's prospectus renewal with other class funds managed by the applicant, thereby reducing costs and allowing for a combined offering document.

The Ontario Securities Commission granted the requested relief, finding it would not be prejudicial to the public interest.

The applicant sought exemptive relief to extend the lapse date of the simplified prospectus for several of its mutual funds.

The extension was requested to align the lapse date with that of other funds managed by the applicant, allowing them to be combined into a single simplified prospectus to reduce costs and streamline disclosure.

The principal regulator granted the requested relief, finding it would not be prejudicial to the public interest.

The investment fund manager applied for exemptive relief under section 6.1 of National Instrument 81-101 to extend the 90-day deadline for filing a mutual fund prospectus after the receipt of a preliminary prospectus.

The Director of the Ontario Securities Commission granted the requested exemption, permitting the prospectus to be filed no later than May 23, 2023.

The applicant sought exemptive relief on behalf of a mutual fund pool to include past performance data from the period before it became a reporting issuer in its sales communications, fund facts documents, and management reports of fund performance.

The principal regulator granted the relief, subject to conditions requiring disclosure that the pool was not a reporting issuer during that period and that expenses would have been higher had it been subject to reporting issuer requirements.

The applicant, TD Asset Management Inc., applied for exemptive relief from sections 2.5(2)(a) and (c) of National Instrument 81-102 to permit its mutual funds to invest in certain underlying pooled funds managed by the applicant that are not reporting issuers.

The principal regulator granted the exemption, subject to conditions including that the investments comply with illiquid asset restrictions, independent valuation requirements, and independent review committee approval.

The Filer applied to the Ontario Securities Commission for exemptive relief to extend the lapse date for the renewal of the simplified prospectus and fund facts of the TRUX Exogenous Risk Pool.

The extension was requested to align the renewal with the filing of the Pool's audited annual financial statements, avoiding the need for an auditor's review of interim financial reports.

The Commission granted the requested exemption, finding it would not be prejudicial to the public interest.

The applicant sought exemptive relief from the concentration restriction in subsection 2.1(1) of National Instrument 81-102, which prohibits a mutual fund from investing more than 10% of its net asset value in the securities of any one issuer.

The applicant proposed an exchange-traded fund that would invest in the top ten Canadian financial services companies by market capitalization, which would result in investments exceeding the 10% threshold for certain issuers.

The principal regulator granted the requested relief, subject to conditions including specific prospectus disclosure regarding the concentration risk and the semi-annual rebalancing strategy.

The Filer, Empire Life Investments Inc., applied on behalf of several mutual funds for an order that each Fund has ceased to be a reporting issuer in all applicable Canadian jurisdictions.

The principal regulator, the Ontario Securities Commission, found that the outstanding securities of each Fund are beneficially owned by fewer than 15 securityholders in each jurisdiction and fewer than 51 worldwide, and are not traded on any marketplace.

The application was granted, and the Funds were ordered to cease being reporting issuers.