Poonam Puri

Telecom Italia S.p.A. applied to the Ontario Securities Commission for an order to cease being a reporting issuer in Canada.

The Filer demonstrated that Canadian residents hold a de minimis percentage of its securities and that its securities are not traded on any Canadian marketplace.

The Commission granted the order, noting that the Filer will continue to provide Canadian securityholders with the same disclosure required under Italian law.

The Filer applied for exemptive relief on behalf of its mutual funds that offer both ETF and mutual fund securities.

The requested relief included exemptions from the long-form prospectus requirement for ETF securities, the underwriter's certificate requirement, and the take-over bid requirements for secondary market purchasers.

The Ontario Securities Commission granted the requested relief, allowing the funds to use a simplified prospectus and annual information form, and exempting them from the underwriter's certificate and take-over bid requirements.

The Filer, Tobias Lütke, applied to the Ontario Securities Commission for an exemption from the prospectus requirement to sell Class A Shares of Shopify Inc. under an automatic securities disposition plan (ASDP).

The Filer, deemed a control person, argued that complying with the prospectus exemption conditions for control trades would impede the ASDP's operation.

The Commission granted the exemption, subject to conditions including trading limits, reporting requirements, and restrictions on the Filer's involvement in the sales.

The Commission also granted confidentiality relief until the earlier of public disclosure of the ASDP or 60 days from the decision.

The Filer, a special purpose entity that issues credit card receivables-backed notes, applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The Filer has no outstanding common shares and its issued notes are held by sophisticated investors or on a private placement basis.

The Commission granted the order, satisfied that the statutory test was met, and the Filer will no longer be a reporting issuer in Canada.

Ava Trade Ltd., a British Virgin Islands-based entity, opened and operated approximately 1400 accounts for Ontario investors to trade contracts for differences (CFDs) without being registered or filing a prospectus.

Staff of the Commission and Ava Trade reached a settlement agreement acknowledging these breaches of the Securities Act.

The Commission approved the settlement, which included an administrative penalty of $550,000, disgorgement of $3.7 million, and costs of $25,000, finding it to be in the public interest.

The applicant, an investment fund manager, applied for exemptive relief from the investment restrictions in the Securities Act and National Instrument 31-103.

The relief was sought to permit the applicant's top funds to invest in underlying funds managed by the applicant, creating a fund-on-fund structure.

The Ontario Securities Commission granted the requested relief, subject to several conditions including that the top funds are distributed solely pursuant to prospectus exemptions, investments are made at an objective price, and there is no duplication of management or sales fees.

BMO Asset Management Inc. applied for exemptive relief on behalf of certain top funds to permit them to invest in underlying funds managed by the same manager or its affiliates.

The relief sought exemptions from the related issuer investment restrictions and the consent requirement for investments in issuers where a responsible person has a significant interest.

The Ontario Securities Commission granted the requested relief, subject to several conditions including objective pricing, fee duplication prohibitions, and specific disclosure requirements.

The Filer applied to the Ontario Securities Commission for an exemption from the prospectus requirement for the distribution of contracts for difference (CFDs) and over-the-counter foreign exchange contracts to investors in Ontario and other applicable jurisdictions.

The Filer operates a proprietary online trading platform allowing clients to trade CFDs on an execution-only basis.

The Commission granted the requested relief, subject to conditions including that the Filer remain registered as an investment dealer, comply with IIROC rules, and provide clients with a comprehensive risk disclosure document prior to their first transaction.

Ninepoint Partners LP applied for exemptive relief on behalf of certain top funds to permit them to invest in underlying funds managed by third-party managers, even if such investments would result in the top funds becoming substantial security holders of the underlying funds.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the investments are consistent with the top funds' objectives, no duplicative fees are charged, and appropriate disclosure is provided to investors.

The Filers applied to the Ontario Securities Commission for an exemption from the requirement to file an insider report within 5 days of a disposition of common shares pursuant to automatic securities disposition plans (ASDPs).

The Commission granted the exemption, subject to conditions including that the insiders file an annual report of all acquisitions and dispositions under the ASDPs by March 31 of each calendar year.

The filer, McEwen Mining Inc., applied to the Ontario Securities Commission for an exemption from the prospectus requirement under s. 74(1) of the Securities Act.

The exemption was sought to permit investment dealers to use standard term sheets, marketing materials, and conduct road shows in connection with future offerings under a final Canadian MJDS shelf prospectus, which are not expressly permitted by NI 71-101.

The Commission granted the exemption, provided the conditions and requirements set out in Part 9A of NI 44-102 are complied with.