Darren McKall

The Filer applied for exemptive relief to extend the lapse date of the simplified prospectus for the Ninepoint Capital Appreciation Fund from February 2, 2025, to May 10, 2025.

The extension was sought to align the Fund's prospectus renewal with the renewal of other mutual funds managed by the Filer, thereby reducing costs and streamlining disclosure.

The principal regulator granted the requested relief, noting that there had been no material changes to the Fund and that the extension would not prejudice the public interest.

The applicant, Global Growth Assets Inc., applied for exemptive relief from paragraphs 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 Investment Funds.

The relief sought was to permit the applicant's mutual funds to reference FundGrade A+ Awards and FundGrade Ratings in their sales communications.

The principal regulator granted the exemption, subject to specific disclosure requirements and conditions regarding the timing and calculation of the referenced awards and ratings.

The applicant, Russell Investments Canada Limited, applied for exemptive relief on behalf of certain investment funds (the Top Funds) from the prohibitions in paragraphs 2.5(2)(a), (b), and (c) of National Instrument 81-102.

The relief sought would permit the Top Funds to invest in certain underlying funds that are not subject to NI 81-102, which in turn may hold more than 10% of their net asset value in other investment funds.

The Ontario Securities Commission granted the requested relief, subject to several conditions including independent valuation, independent review committee approval, and compliance with other requirements of section 2.5 of NI 81-102.

The applicant, Canada Life Investment Management Ltd., applied for exemptive relief from the margin restrictions in subsections 6.8(1) and 6.8(2)(c) of National Instrument 81-102.

The relief sought to permit the alternative mutual funds managed by the applicant to deposit up to 35% of their net asset value as margin with a single dealer, and up to 70% in aggregate across all dealers, for transactions involving exchange-traded specified derivatives.

The Ontario Securities Commission granted the requested relief, finding it would allow the funds to pursue their investment strategies more efficiently and flexibly without prejudicing the public interest.

The applicant, CI Investments Inc., applied for exemptive relief on behalf of several mutual funds and ETFs.

The requested relief included extending the lapse dates for various prospectuses to align with other affiliated funds, permitting the consolidation of simplified prospectuses for alternative and conventional mutual funds, allowing ETFs to use a simplified prospectus form instead of a long form prospectus, and treating ETF and mutual fund securities as separate funds for compliance with certain investment fund rules.

The Ontario Securities Commission granted the requested exemptions subject to specified conditions.

The applicant, an investment fund manager, applied for exemptive relief on behalf of a top fund from the annual and interim financial statement filing and delivery deadlines under National Instrument 81-106.

The top fund invests in a master fund, which in turn invests in underlying funds, causing unavoidable delays in obtaining the necessary financial information to prepare its own statements.

The Ontario Securities Commission granted the requested relief, extending the annual deadline to 180 days and the interim deadline to 120 days, subject to certain conditions including investor notification.

The applicant, EHP Funds Inc., applied on behalf of EHP Global Multi-Strategy Alternative Fund for exemptive relief from the multi-tier fund prohibition in paragraph 2.5(2)(b) of National Instrument 81-102.

The relief was sought to permit the top fund to invest in underlying alternative mutual funds that in turn invest more than 10% of their net asset value in third-tier investment funds.

The Ontario Securities Commission granted the exemption, subject to conditions including no duplication of fees, fair allocation of transaction costs, and specific continuous disclosure requirements.

The Filer applied for exemptive relief on behalf of its mutual funds to permit them to invest up to 10% of their net asset value in securities of certain U.S. investment companies (Underlying Funds) that are not subject to NI 81-102 and are not reporting issuers in Canada.

The principal regulator granted the relief, subject to conditions including that the investments align with the funds' objectives and that the Underlying Funds are subject to the U.S. Investment Company Act.

The Filer, RP Investment Advisors LP, applied for exemptive relief on behalf of certain mutual funds from various provisions of National Instrument 81-102 Investment Funds.

The requested relief sought to permit the funds to increase their short sale exposure to government securities, including those of the U.K. and Germany, as part of an interest rate risk hedging strategy, and to deposit portfolio assets with borrowing agents that are not the funds' custodians.

The Ontario Securities Commission granted the requested relief, revoking and replacing previous decisions, subject to specific conditions regarding risk management, internal controls, and disclosure.

The applicant, Global X Investments Canada Inc., applied for exemptive relief on behalf of several exchange-traded mutual funds from the concentration restriction in subsection 2.1(1) of National Instrument 81-102.

The relief was sought to permit the funds to invest more than 10% of their net asset value in securities of a single issuer in order to replicate the performance of equal-weighted indices.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the transactions align with the funds' investment objectives and that the indices contain a minimum of three constituent issuers.

The Filer applied to the Ontario Securities Commission for exemptive relief under section 19.1 of National Instrument 41-101.

The Filer sought relief from subsection 2.3(1.1), which prohibits filing a prospectus more than 90 days after the receipt for the preliminary prospectus.

The Director confirmed the intention to grant the requested exemption, subject to the condition that the prospectus be filed no later than November 8, 2024.

The Filer and Representative Dealer applied for exemptive relief from the Fund Facts and ETF Facts delivery requirements under NI 81-101 and NI 41-101.

The relief was sought for purchases of mutual fund and ETF securities made in connection with rebalancing, weighting changes, or additional investments within managed model portfolios.

The Ontario Securities Commission granted the exemption, subject to conditions including prior written notice to clients, annual reminders of their right to request the documents, and the provision of the documents upon request.

The Filer applied for exemptive relief on behalf of an alternative mutual fund from the leverage limits in NI 81-102 and related disclosure requirements in NI 81-101.

The fund's strategy, managed by a sub-advisor, involves a quantitative long-short equity strategy that regularly exceeds the 300% NAV leverage limit.

The Filer proposed using a Relative Value-at-Risk (VaR) methodology to measure and manage leverage risk, consistent with EU and US regulatory frameworks.

The Ontario Securities Commission granted the relief, subject to conditions including the adoption of a comprehensive risk management policy, regular stress testing, and reporting requirements.

Franklin Templeton Investments Corp. applied for exemptive relief on behalf of existing and future investment funds to permit them to invest in securities of exchange-traded funds listed in the United States that are not index participation units.

The Ontario Securities Commission granted the exemption from paragraphs 2.5(2)(a), (a.1), and (c) of National Instrument 81-102, subject to conditions including a 10% net asset value limit on such investments and prospectus disclosure requirements.

The Filer applied for exemptive relief on behalf of several mutual funds to permit the filing of a simplified prospectus and ETF Facts for ETF Securities, rather than a long form prospectus.

The Filer also sought relief to treat ETF Securities and Mutual Fund Securities as separate funds for the purpose of compliance with the sales and redemptions requirements of National Instrument 81-102.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including compliance with specific disclosure and filing requirements.

BMO Investments Inc. applied for exemptive relief from the requirement under subsection 3.2.01 of National Instrument 81-101 to deliver a Fund Facts document before accepting instructions for purchases of F-Series and A-Series mutual fund securities made pursuant to a fee-based program.

The program automatically switches investors between series based on asset thresholds to lower total fees.

The Ontario Securities Commission granted the exemption, subject to conditions including prior written disclosure to investors and the provision of Fund Facts upon request.

Purpose Investments Inc. applied for exemptive relief on behalf of existing and future mutual funds offering ETF Securities.

The relief sought to revoke a previous decision, exempt the funds from filing a long form prospectus for ETF Securities, and permit the funds to treat ETF and Mutual Fund Securities as separate funds for compliance with sales and redemption rules under NI 81-102.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding prospectus disclosure and compliance with applicable provisions of NI 81-102.

The Filer, AGF Investments Inc., applied to the Ontario Securities Commission for exemptive relief under section 6.1 of National Instrument 81-101.

The Filer sought an exemption from subsection 2.1(2) of NI 81-101, which prohibits filing a prospectus more than 90 days after the receipt of a preliminary prospectus.

The Director granted the requested exemption, permitting the prospectus to be filed no later than October 15, 2024.

The applicant applied for exemptive relief from the prohibitions in National Instrument 31-103 to permit in specie transfers between managed accounts and funds, as well as between private funds and other funds.

The principal regulator granted the requested exemption, subject to several conditions including obtaining prior written consent from clients, ensuring the portfolio securities are acceptable and consistent with investment objectives, and valuing the securities appropriately.

The applicant, FT Portfolios Canada Co., applied for exemptive relief on behalf of an exchange-traded mutual fund from certain provisions of National Instrument 81-102.

The requested relief would permit the fund to invest more than 10% of its net asset value in a U.S. exchange-traded fund that is not subject to NI 81-102 and is not a reporting issuer in Canada.

The Ontario Securities Commission granted the exemption, subject to conditions including that the U.S. fund remains subject to the U.S. Investment Company Act and does not use leverage.