Stephen Paglia

The Filer applied for exemptive relief to extend the lapse dates of the prospectuses for three of its exchange-traded funds.

Due to an inadvertent calculation error, the Filer filed the Year 2 ETF Facts after the applicable deadlines, causing the prospectuses to lapse.

The Ontario Securities Commission granted the requested relief, extending the lapse dates and bringing the late filings within the applicable window, subject to conditions including public disclosure of the circumstances.

The Filers applied for exemptive relief from the Underwriting Conflict Restriction in subsection 4.1(1) of National Instrument 81-102 to permit their dealer managed investment funds to invest in debt securities of non-reporting issuers during a distribution underwritten by an affiliate, or within 60 days thereafter.

The Ontario Securities Commission granted the exemption, subject to conditions requiring independent review committee oversight and specific conflict mitigation policies, and revoked prior relief.

The Filers applied for exemptive relief from the requirement to deliver Fund Facts and ETF Facts documents for purchases of mutual fund and ETF securities made in connection with rebalancing and additional investment trades within a model portfolio service.

The principal regulator granted the exemption, subject to conditions including providing clients with advance notice of the exemption, instructions on how to request the documents, and annual reminders.

The applicant, Fidelity Investments Canada ULC, applied for exemptive relief from the multi-layering restriction in paragraph 2.5(2)(b) of National Instrument 81-102 Investment Funds.

The relief sought to permit certain mutual funds and exchange-traded funds to invest in three-tier or four-tier fund-of-funds structures.

The Ontario Securities Commission granted the requested relief, subject to conditions including that there be no duplication of management or administrative fees, and that the funds comply with specific portfolio holdings disclosure requirements.

The applicant, Fidelity Investments Canada ULC, applied for exemptive relief from the multi-layering restriction in paragraph 2.5(2)(b) of National Instrument 81-102 Investment Funds.

The relief sought to permit certain mutual funds and exchange-traded funds to invest in a three-tier or four-tier fund-of-funds structure.

The Ontario Securities Commission granted the requested relief, subject to conditions including that there be no duplication of management or administrative fees, and that the funds comply with specific portfolio holdings disclosure requirements.

SEI Investments Canada Company and Richardson GMP Limited applied for exemptive relief from the bundling restrictions in National Instrument 81-101.

The applicants sought to deliver a single document containing the Fund Facts for all mutual funds forming part of an SEI Portfolio, along with a cover page, rather than delivering separate documents.

The Ontario Securities Commission granted the exemption, finding that combining the documents would facilitate investor review and understanding without compromising accessibility.

PIMCO Canada Corp. applied for exemptive relief on behalf of its current and future investment funds from the concentration restrictions in subsections 2.1(1) and 2.1(1.1) of National Instrument 81-102.

The relief sought to permit the funds to invest more than 10% (or 20% for alternative mutual funds and non-redeemable investment funds) of their net asset value in debt obligations issued or guaranteed by Fannie Mae or Freddie Mac.

The Ontario Securities Commission granted the relief, subject to conditions including minimum credit rating requirements and specific prospectus disclosure.

The applicant sought approval under paragraph 5.5(1)(b) of National Instrument 81-102 to merge two terminating mutual funds into two continuing mutual funds.

The mergers did not meet all pre-approval criteria because the investment objectives were not substantially similar and one merger would be effected on a taxable basis.

The principal regulator granted the requested exemptive relief, finding the mergers would achieve a fair and reasonable result for the funds and provide benefits such as a simplified product line-up and reduced administrative costs.

The Filer applied for exemptive relief to merge the Terminating Fund into the Continuing Fund on a taxable basis.

The merger did not meet all pre-approval criteria under NI 81-102 because it was not a qualifying exchange under the Income Tax Act.

The principal regulator granted the requested relief, finding that the merger was in the best interest of securityholders as it preserved capital losses and reduced duplication.

The Filer applied to the Ontario Securities Commission for approval to merge the Exemplar LEADERS Fund into the Exemplar Growth and Income Fund.

Regulatory approval was required because the investment objectives of the two funds were not substantially similar, as required for a pre-approved reorganization under National Instrument 81-102.

The Commission granted the requested exemptive relief, permitting the merger to proceed.

The Manager, BMO Investments Inc., applied to the Ontario Securities Commission for exemptive relief under paragraph 5.5(1)(b) of National Instrument 81-102 to approve the mergers of three terminating mutual funds into three continuing mutual funds.

The mergers did not meet all pre-approval criteria under section 5.6 because the investment objectives and fee structures were not substantially similar.

The Commission granted the requested approval, noting the mergers would be effected on a tax-deferred basis and were recommended by the independent review committee.

The Filer, Ninepoint Partners LP, applied for exemptive relief under subsection 5.5(1)(b) of National Instrument 81-102 to approve the merger of certain mutual funds.

The proposed mergers did not meet all criteria for pre-approved reorganizations under section 5.6 because the investment objectives of the continuing funds were not substantially similar to the terminating funds, and the mergers would not be completed as qualifying exchanges under the Income Tax Act.

The principal regulator granted the requested approval, finding that the mergers would achieve a fair and reasonable result for the funds and provide benefits such as a streamlined product line-up and lower management fees.

The filer applied for exemptive relief to extend the lapse date of the simplified prospectus for several mutual funds.

The extension would allow the filer to consolidate the renewal of these funds' prospectus with another group of funds managed by the filer, reducing costs and streamlining disclosure.

The principal regulator granted the exemption, finding it would not be prejudicial to the public interest.

The Filer applied for exemptive relief on behalf of several existing and future mutual funds to permit the filing of a single prospectus for both ETF and mutual fund securities under National Instrument 41-101, rather than separate prospectuses.

The Filer also sought relief to treat the ETF and mutual fund securities as separate funds for the purposes of the sales and redemption requirements under Parts 9, 10, and 14 of National Instrument 81-102.

The Ontario Securities Commission granted the requested exemptions, subject to conditions ensuring appropriate disclosure and compliance with applicable provisions for each security type.

The Filer applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the simplified prospectus for several mutual funds.

The extension was sought to align the lapse date with that of other mutual funds managed by the Filer, allowing them to be combined into a single prospectus to reduce costs and streamline disclosure.

The Commission granted the requested relief, finding it would not be prejudicial to the public interest.

Mackenzie Financial Corporation applied for exemptive relief under section 5.5(1)(b) of National Instrument 81-102 to permit the reorganization and merger of several terminating mutual funds into continuing funds.

The relief was required because the fundamental investment objectives of the continuing funds were not substantially similar to the terminating funds, certain mergers were taxable, and current simplified prospectuses were not sent to all securityholders.

The Ontario Securities Commission granted the requested relief, subject to the filer obtaining prior approval from the securityholders of the terminating funds at a special meeting.

The applicant, an investment fund manager, sought approval for a change of control pursuant to section 5.5(1)(a.1) of National Instrument 81-102.

The change of control resulted from the acquisition of all outstanding shares of the applicant by a foreign purchaser.

The Ontario Securities Commission, acting as principal regulator, granted the requested approval, noting that the acquisition was not expected to result in material changes to the business, operations, or affairs of the funds managed by the applicant.

The applicants applied to the Ontario Securities Commission for approval of a change of manager for an investment fund.

The proposed manager was already acting as the sub-advisor for the fund and was responsible for all investment decisions.

The Commission found that the proposed transaction would not be prejudicial to the public interest or the unitholders, as the proposed manager was knowledgeable about the fund's portfolio and the unitholders had approved the change.

The requested approval was granted.

The applicants, Franklin Templeton Investments Corp. and FTC Investor Services Inc., applied to the Ontario Securities Commission for exemptive relief from the requirement to deliver a Fund Facts document when automatically switching investors from a retail series to a high net worth series of mutual funds (Lower Fee Switches).

The applicants also sought to revoke a previous decision related to this matter.

The Commission granted the requested relief, subject to several conditions, including that investors receive prior notification of the automatic switch program, that the simplified prospectus and Fund Facts contain specific disclosure about the program, and that investors receive an annual reminder notice regarding their rights and the availability of the Fund Facts document.

The applicant applied for an exemption from the Fund Facts Delivery Requirement under section 5.2 of National Instrument 81-101.

The exemption was sought for purchases of mutual fund securities made in connection with Rebalancing Trades and Weighting Change Trades executed with respect to a Model Portfolio.

The Ontario Securities Commission granted the exemption, subject to conditions including providing investors with specific notices regarding their rights and how to access the Fund Facts documents.