James Turner

Kinross Gold Corporation applied for an exemption from the insider reporting requirements under the Securities Act for its senior executives participating in an automatic securities disposition plan (ASDP).

The ASDP facilitates the automatic sale of common shares issued under a restricted share plan.

The Ontario Securities Commission granted the exemption, permitting participating insiders to file an annual summary report of their dispositions under the ASDP rather than reporting each transaction within 10 days, provided they comply with the plan's restrictions and representations regarding material undisclosed information.

The filer, a UK public company, applied for an exemption from the prospectus requirement for the first trade of ordinary shares distributed to Canadian shareholders under a scrip dividend scheme.

The filer did not fully meet the conditions of the first trade exemption in section 2.14 of National Instrument 45-102 because Canadian residents held more than 10% of the total issued and outstanding shares.

The Ontario Securities Commission granted the requested relief, provided that the first trade is made through an exchange or market outside of Canada or to a person or company outside of Canada.

The applicant, on behalf of a closed-end investment trust that will convert into an exchange-traded fund, applied for exemptive relief from certain requirements under the Securities Act and National Instruments.

Specifically, the applicant sought relief from dealer registration requirements for disseminating sales communications, the requirement for an underwriter's certificate in the prospectus, and take-over bid requirements for normal course purchases of units on the TSX.

The Ontario Securities Commission granted the requested exemptions, subject to compliance with Part 15 of NI 81-102 and provided the fund remains an ETF.

The applicant, Claymore Investments, Inc., applied on behalf of Claymore Gold Bullion Trust for exemptive relief from dealer registration requirements, underwriter's certificate requirements, and take-over bid requirements.

The relief was sought in connection with the fund's conversion from a closed-end fund to an exchange-traded fund.

The Ontario Securities Commission granted the requested exemptions, subject to compliance with Part 15 of NI 81-102 and provided that normal course purchases on the TSX are exempt from take-over bid requirements.

The applicant, Jones Heward Investment Counsel Inc., applied for exemptive relief under the Securities Act for its exchange-traded funds.

The requested relief included exemptions from the dealer registration requirement for disseminating sales communications, the requirement for an underwriter's certificate in the prospectus, and take-over bid requirements for normal course purchases.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including compliance with Part 15 of NI 81-102 and an undertaking by unitholders not to exercise votes representing more than 20% of outstanding units.