Raymond Chan

The applicant manager applied on behalf of the restructuring fund for approval under paragraph 5.5(1)(b) of National Instrument 81-102 of a proposed plan of arrangement.

The arrangement involved exchanging units of the restructuring fund for shares of a newly formed publicly-listed corporation.

Regulatory approval was required because the arrangement did not satisfy all criteria for pre-approved reorganizations under section 5.6 of NI 81-102.

The Principal Regulator granted the requested approval, allowing the restructuring to proceed.

The applicant, BMO Investments Inc., applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the simplified prospectus for several BMO Ascent Portfolios from April 18, 2018, to April 24, 2018.

The extension was requested to align the renewal of the Funds' prospectus with the renewal of the simplified prospectus for 121 other BMO mutual funds, thereby facilitating consolidated disclosure and operational efficiency.

The Commission found that the requested relief would not affect the currency or accuracy of the information available to investors and would not be prejudicial to the public interest.

The application for exemptive relief was granted.

The filer, Beutel, Goodman & Company Ltd., applied for exemptive relief from the trading prohibition in paragraph 13.5(2)(b) of NI 31-103.

The relief sought to permit inter-fund trades between mutual funds, pooled funds, and managed accounts managed by the filer, as well as in specie subscriptions and redemptions.

The Ontario Securities Commission granted the exemption subject to conditions, including independent review committee approval and specific pricing requirements.

The applicant, a registered portfolio manager and exempt market dealer, applied for exemptive relief from the prohibitions in sections 13.5(2)(b)(ii) and 13.5(2)(b)(iii) of National Instrument 31-103.

The relief sought would permit in-specie subscriptions and redemptions by managed accounts in pooled funds managed by the applicant.

The Ontario Securities Commission granted the requested relief, subject to conditions including obtaining prior written consent from managed account clients and ensuring the transferred securities are acceptable to the portfolio manager and consistent with the investment objectives.

The Filer applied for a decision to revoke and replace an existing order granting relief from the conflict of interest provisions in section 13.5 of NI 31-103.

The variance amends a condition of the original order that limited investment in the funds to permitted clients, allowing investment by key executive officers, directors, and certain key employees of the fund manager or its affiliates who are accredited investors.

The principal regulator granted the exemptive relief subject to conditions.

The applicant, a registered adviser and investment fund manager, applied for exemptive relief from the self-dealing prohibitions in sections 13.5(2)(a) and 13.5(2)(b) of National Instrument 31-103.

The relief was sought to permit an Ontario limited partnership fund to invest in a Cayman Islands master fund, and to permit in-specie transactions between the two funds.

The principal regulator granted the relief, subject to conditions ensuring the transactions are executed at objective prices, do not duplicate fees, and are in the best interests of the funds.

The applicant, East Coast Fund Management Inc., applied for exemptive relief from certain investment restrictions under the Securities Act and National Instrument 31-103 to permit its top funds to invest in underlying funds managed by the same manager.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the top funds are distributed solely pursuant to prospectus exemptions, investments are made at an objective price, and appropriate disclosure is provided to investors.

The Filer applied to the Ontario Securities Commission for approval of a proposed merger of the Terminating Fund into the Continuing Fund under subsection 5.5(1)(b) of National Instrument 81-102.

Regulatory approval was required because the merger did not satisfy all criteria for pre-approved reorganizations, as the funds' investment objectives were not substantially similar and the transaction was not tax-deferred.

The Commission granted the requested approval, conditional upon the Filer obtaining prior approval from the shareholders of the Terminating Fund.

The Filer applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The Filer represented that it had fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and its securities were not traded on any marketplace.

The principal regulator granted the order, finding that the Filer met the test set out in the legislation.

The Filer applied for exemptive relief on behalf of several proposed exchange-traded funds (ETFs) from the Underwriter's Certificate Requirement, the Prospectus Form Requirement, and the Take-Over Bid Requirements.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including the filing and delivery of a Summary Document (and eventually an ETF Facts document) to purchasers, and the incorporation of the Summary Document by reference into the ETFs' prospectuses.

The Filer, U.S. Tactical Allocation Fund, applied to the Ontario Securities Commission for an order declaring that it has ceased to be a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The Filer represented that its outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and that its securities are not traded on any marketplace.

The principal regulator was satisfied that the test under the legislation was met and granted the requested order.

The Filer applied for exemptive relief from the trading prohibition in section 13.5(2)(b) of National Instrument 31-103 to permit certain investment funds and managed accounts to engage in inter-fund trades and in specie transactions.

The principal regulator granted the relief, subject to conditions including independent review committee approval and compliance with pricing and valuation requirements.

The decision also revoked and replaced a prior exemptive relief decision.

The Filer applied for exemptive relief under subsection 5.5(1)(b) of National Instrument 81-102 to approve the proposed reorganization of several terminating mutual funds into continuing mutual funds.

The Principal Regulator granted the requested relief, provided that the Filer obtains the prior approval of the securityholders of the terminating funds at a special meeting.

The applicant, BMO Nesbitt Burns Inc., applied on behalf of existing and future investment funds for an exemption from the requirement under NI 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The applicant sought to use the Notice-and-Access Procedure instead.

The Ontario Securities Commission granted the exemption, subject to conditions, noting that the procedure is already permitted for corporate finance issuers and would not be detrimental to investor protection.

The Filer applied to the Ontario Securities Commission for exemptive relief on behalf of existing and future investment funds it manages.

The requested relief sought an exemption from the requirement under NI 81-106 to send an information circular to each registered securityholder whose proxy is solicited, allowing the funds to use a Notice-and-Access Document instead.

The Commission granted the exemption, subject to numerous conditions regarding the content, timing, and procedure for sending the Notice-and-Access Document, ensuring securityholders maintain access to the same quality of disclosure material.

The Filer, Next Edge Capital Corp., applied for exemptive relief from the requirement under NI 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The Filer sought to use a Notice-and-Access Procedure similar to that permitted for corporate finance issuers under NI 51-102 and NI 54-101.

The Ontario Securities Commission granted the exemption, subject to conditions ensuring securityholders receive a Notice-and-Access Document and retain the ability to request printed copies of the information circular.

Several investment fund managers applied to the Ontario Securities Commission for exemptive relief from the requirement under paragraph 12.2(2)(a) of National Instrument 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The applicants sought to use a Notice-and-Access Document instead, similar to the procedure available to corporate finance issuers under National Instruments 51-102 and 54-101.

The Commission granted the exemption, subject to conditions ensuring that securityholders receive adequate notice, instructions on how to access the information circular electronically, and the ability to request a printed copy without charge.

The Manager applied for exemptive relief to approve the mergers of several terminating mutual funds into continuing funds under paragraph 5.5(1)(b) of NI 81-102.

The mergers did not meet all pre-approval criteria because the investment objectives were not substantially similar and one merger was not a qualifying exchange under the Income Tax Act.

The principal regulator granted the requested approval, finding the mergers beneficial to securityholders due to reduced costs and increased portfolio size.

The applicant sought approval under paragraph 5.5(1)(a) of National Instrument 81-102 for a proposed change of manager of several mutual funds from the applicant to a new manager following an acquisition.

The Principal Regulator granted the approval, subject to the applicant obtaining prior approval from the securityholders of the funds and providing them with a management information circular containing sufficient information to make an informed decision.

The applicant applied for exemptive relief from the requirement under NI 81-106 to send an information circular to each registered holder of securities of an investment fund whose proxy is solicited.

The applicant sought to use the Notice-and-Access Procedure to send a Notice-and-Access Document instead.

The Ontario Securities Commission granted the exemption, subject to conditions, noting that the procedure is already permitted for corporate finance issuers and would not be detrimental to investor protection.