Darren McKall

The Applicant applied to the Ontario Securities Commission for a decision that it is no longer a reporting issuer.

The Applicant represented that its outstanding securities are beneficially owned by fewer than 51 securityholders worldwide and are not traded on any marketplace.

The Commission was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The applicant, Franklin Templeton Investments Corp., applied for exemptive relief from certain specified derivatives and custodial requirements under National Instrument 81-102 Mutual Funds.

The relief was sought to permit its mutual funds to enter into swap transactions cleared through a clearing corporation, in response to new U.S. requirements under the Dodd-Frank Act to clear over-the-counter derivatives.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the deposit of margin with Futures Commission Merchants, treating cleared swaps similarly to other cleared derivatives.

The Filer applied for exemptive relief on behalf of existing and future PIMCO mutual funds from certain derivatives and custodial requirements under National Instrument 81-102.

The relief was sought to permit the funds to enter into swap transactions cleared through a clearing corporation, in response to new U.S. requirements under the Dodd-Frank Act to clear over-the-counter derivatives.

The principal regulator granted the requested relief, subject to conditions regarding the deposit of cash and portfolio assets as margin with Futures Commission Merchants, treating cleared swaps similarly to other cleared derivatives.

The applicant, Fidelity Investments Canada ULC, applied for exemptive relief from certain derivatives and custodial requirements under National Instrument 81-102 Mutual Funds.

The relief was sought to permit its mutual funds to enter into swap transactions cleared through a clearing corporation, in response to new U.S. requirements under the Dodd-Frank Act to clear over-the-counter derivatives.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the deposit of margin with Futures Commission Merchants, treating cleared swaps similarly to other cleared derivatives.

The Manager applied to the Ontario Securities Commission for approval to merge several terminating mutual funds into continuing funds under National Instrument 81-102.

Regulatory approval was required because the mergers did not meet all pre-approval criteria, specifically regarding differing investment objectives, fee structures, and the taxable nature of certain mergers.

The Commission found that adequate disclosure was provided to securityholders, who approved the mergers, and that the independent review committee recommended the mergers.

The application for exemptive relief was granted.

The applicant, C.S.T. Consultants Inc., applied for exemptive relief to extend the lapse date of the prospectus for its scholarship plans to July 15, 2013.

The extension was requested to allow sufficient time to prepare the prospectus in accordance with new requirements under National Instrument 41-101 and for staff review.

The Ontario Securities Commission granted the requested relief, noting that the extension would not impact the currency of the disclosure.

Integra Capital Limited, as manager of the Integra Equity Fund, applied for exemptive relief from paragraphs 2.2(1)(a), 2.5(2)(a), and 2.5(2)(c) of National Instrument 81-102.

The relief was sought to permit the Fund to invest up to 10% of its net assets in units of the Principal U.S. Value Equity Fund, a pooled fund managed by the same manager that is not a reporting issuer and does not offer its securities under a simplified prospectus.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the underlying fund complies with Parts 2, 4, and 6 of NI 81-102, and that the Fund provides disclosure about the underlying fund to its investors.

The Filer applied for exemptive relief from the conflict of interest provisions in section 13.5(2)(a) of National Instrument 31-103.

The relief was sought to allow top feeder funds to invest in underlying master funds managed by the same portfolio adviser without obtaining prior written consent from investors.

The Ontario Securities Commission granted the requested relief, subject to conditions including that no duplicate management or incentive fees are charged and that appropriate disclosure is provided to investors.

The Applicant, Government Strip Bond Trust, applied for a decision that it is no longer a reporting issuer under the securities legislation of multiple Canadian jurisdictions.

The Applicant represented that its outstanding securities are beneficially owned by fewer than 15 securityholders in each jurisdiction and fewer than 51 worldwide, its securities are not traded on any marketplace, and it is not in default of any obligations under the legislation.

The Ontario Securities Commission granted the requested relief, ordering that the Applicant is not a reporting issuer.

The applicant, Goodwood Inc., applied for approval of a change of control under section 5.5(2) of National Instrument 81-102.

The proposed transaction involved the purchase of shares by Puccetti Funds Management Inc., increasing its equity ownership to 97.2%.

The principal regulator granted the approval, noting that there were no plans to change the manager of the fund or merge the current manager with any other entity.

The applicant applied on behalf of a commodity pool ETF for exemptive relief from certain provisions of National Instrument 81-102.

The requested relief sought to permit the ETF to sell securities short in excess of prescribed net asset value thresholds and to provide a security interest over its assets in connection with such short sales.

The Ontario Securities Commission granted the exemption, allowing the ETF to engage in short selling up to 40% of its net assets, subject to specified conditions.

The filer, RBC Global Asset Management Inc., applied for exemptive relief on behalf of its mutual funds from paragraphs 2.5(2)(a), (c), and (f) of National Instrument 81-102.

The relief was sought to permit the funds to invest in certain European exchange-traded funds (ETFs) that are not traded on a Canadian or U.S. stock exchange.

The Principal Regulator granted the exemption, finding that the foreign ETFs are subject to a robust regulatory framework under the UCITS directive and that the investment would benefit the funds through targeted asset allocation and diversification.

The relief was granted subject to several conditions, including limits on the percentage of net assets invested in the foreign ETFs.

The applicant sought exemptive relief under National Instrument 81-102 to approve the merger of the Terminating Fund into the Continuing Fund.

The merger required approval because it did not meet the criteria for pre-approved reorganizations, as the funds did not have substantially similar fee structures and the merger was not a qualifying exchange or tax-deferred transaction under the Income Tax Act.

The principal regulator granted the requested relief, finding that the merger was beneficial to unitholders and that adequate disclosure had been provided.

BMO Asset Management Inc. applied for exemptive relief on behalf of the BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF from the concentration restriction in section 2.1(1) of National Instrument 81-102.

The ETF sought to invest more than 10 percent of its net asset value in a single issuer included in the Dow Jones Industrial Average to replicate the index's performance while employing a covered call option writing strategy.

The Ontario Securities Commission granted the relief, subject to conditions including that the ETF's investment in any issuer not exceed its weight in the index and that appropriate prospectus disclosure be made.

The filer, BlackRock Investments Canada Inc., applied for exemptive relief under National Instrument 81-102 to permit the merger of the iShares Natural Gas Commodity Index Fund into the iShares Broad Commodity Index Fund (CAD-Hedged).

Approval was required because the merger did not meet the pre-approval criteria, specifically because the investment objectives of the terminating fund were not substantially similar to those of the continuing fund.

The principal regulator granted the requested approval, noting that unitholders would be provided with all necessary information and the opportunity to vote on the merger, and that the independent review committee had provided a positive recommendation.

The applicant, RBC Global Asset Management Inc., applied for exemptive relief from the mutual fund conflict of interest investment restrictions, management reporting requirements, and self-dealing prohibitions under the Securities Act and National Instrument 31-103.

The relief was sought to permit pooled funds to invest using a fund-of-fund structure and to revoke and replace prior relief to remove a multi-tier restriction for certain top pooled funds.

The Ontario Securities Commission granted the requested exemptions, subject to specific conditions regarding disclosure, fee duplication, and voting rights.

The filer, Vanguard Investments Canada Inc., applied on behalf of several Vanguard ETFs for exemptive relief from the requirement in subsection 5.1(c) of National Instrument 81-102 to obtain prior unitholder approval before changing the fundamental investment objectives of the ETFs.

The proposed changes involved switching the indices tracked by the ETFs to new indices, which were highly correlated with the existing ones, as part of a global change by the U.S. parent company.

The Ontario Securities Commission granted the relief, subject to conditions including 60 days' prior notice to unitholders and approval by the independent review committee.

The Filer applied for exemptive relief on behalf of mutual funds from certain restrictions in National Instrument 81-102 Mutual Funds regarding securities lending transactions.

The funds invest in Canadian equity securities pledged to a counterparty for forward contracts.

The relief permits the funds to lend up to 100% of their equity portfolio, use an agent other than the custodian, and not hold the collateral under the custodian, provided certain conditions are met.

The principal regulator granted the requested exemptions.

The applicant, the investment fund manager of a scholarship plan, applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the plan's current prospectus to November 30, 2012.

The extension was requested to allow OSC staff sufficient time to review a pro forma prospectus and a consultant's report without forcing the plan to cease distribution of its units.

The principal regulator granted the exemption, noting that there had been no undisclosed material changes to the plan and the extension would not prejudice the public interest.

The Filer applied for exemptive relief under National Instrument 81-102 to permit its actively managed exchange-traded mutual funds to invest up to 10% of their net assets in gold and silver ETFs, as well as physical silver.

The Filer also sought relief from the cover requirements for specified derivatives to permit the funds to use put options or short positions to cover long positions in futures, forwards, or swaps.

The Ontario Securities Commission granted the requested relief, subject to various conditions including disclosure requirements, limits on commodity exposure, and specific cover and margin requirements for derivative positions.