Vera Nunes

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

The applicant sought relief from subsection 2.3(1), which prohibits filing a prospectus more than 90 days after the receipt for the preliminary prospectus.

The Director granted the requested exemption, permitting the final prospectus to be filed no later than January 30, 2010.

The applicant, Pathfinder Convertible Debenture Fund, applied for exemptive relief from the requirement in section 14.2(3)(b) of National Instrument 81-106 Investment Fund Continuous Disclosure to calculate its net asset value on a daily basis.

The fund uses specified derivatives and proposed to calculate its net asset value on a weekly basis instead.

The Ontario Securities Commission granted the exemption, provided the fund's units are listed on the TSX and the net asset value is calculated at least weekly.

The applicant, an investment trust, applied for exemptive relief from the requirement in section 14.2(3)(b) of National Instrument 81-106 to calculate its net asset value on a daily basis, as it uses specified derivatives.

The Ontario Securities Commission granted the exemption, permitting the fund to calculate its net asset value on a weekly basis, provided the units are not offered to the public and are only issued under prospectus and registration exemptions.

Scotia Asset Management LP applied for exemptive relief on behalf of its mutual funds to permit them to purchase non-exchange-traded debt securities of related entities in the secondary market.

The Ontario Securities Commission granted the relief, subject to conditions including that the independent review committee of the funds approves the transactions and that specific pricing requirements are met to ensure the funds do not pay more than the ask price.

Scotia Asset Management LP applied for exemptive relief on behalf of its mutual funds to permit the funds to purchase non-exchange-traded debt securities of related persons in the secondary market.

The Ontario Securities Commission granted the requested relief from the related shareholder, related party, and related issuer prohibitions in the Securities Act.

The relief was granted subject to conditions, including that the purchases be consistent with the funds' investment objectives, be approved by the funds' independent review committees, and comply with specific pricing requirements to ensure the funds do not pay more than the ask price.

The applicant, a registered portfolio manager, applied for exemptive relief from the prohibition against knowingly causing an investment portfolio to purchase or sell securities from or to a responsible person, and from the related monthly reporting requirements.

The relief was sought to allow a mortgage fund to continue purchasing and selling mortgages from and to affiliates of the portfolio manager.

The Ontario Securities Commission granted the requested relief, subject to conditions including approval and oversight by the fund's independent review committee and specific continuous disclosure requirements.

The Filer, an investment trust, applied for exemptive relief from the requirement in section 14.2(3)(b) of National Instrument 81-106 to calculate its net asset value (NAV) on a daily basis, given its use of specified derivatives.

The Filer proposed to calculate its NAV on a weekly basis and on the last business day of each month.

The Ontario Securities Commission granted the exemption, provided that the Class A Units are listed on the TSX and the Filer calculates the NAV per Unit of each class at least weekly.

The applicants, Manulife Financial Corporation, Elliott & Page Limited, and AIC Limited, applied to the Ontario Securities Commission for approval of a change of manager for various mutual funds from AIC Limited to Elliott & Page Limited.

The change of manager was part of a proposed transaction where Elliott & Page would acquire the Canadian retail investment fund business of AIC.

The Commission granted the approval, finding that the change would not materially affect the operation and administration of the funds and would not be prejudicial to the interests of the funds, their securityholders, or the public.

The Applicant, Canadian Medical Discoveries Fund Inc., applied for a decision under the securities legislation of multiple jurisdictions that it is not a reporting issuer.

The Applicant had merged with GrowthWorks Canadian Fund Ltd. and was in the process of winding up and dissolving.

The Ontario Securities Commission granted the application, finding that the Applicant met the requirements, including having fewer than 51 security holders in Canada and no securities traded on a marketplace.

The applicant applied for exemptive relief on behalf of several mutual funds from the prohibition in subsection 2.5(2) of National Instrument 81-102.

The relief sought was to permit the funds to invest in securities of a foreign ETF as if they were index participation units, despite the ETF not being traded on a stock exchange in Canada or the United States.

The Ontario Securities Commission granted the exemption, subject to conditions including that the ETF qualifies as a UCITS and its securities are listed on the London Stock Exchange.

The Filers applied for approval of a change of manager and a change of control of the manager for several mutual funds, following the acquisition of the managers by First Asset Capital Corp. They also sought an exemption from the requirement to provide notice of the change of control to securityholders.

The Ontario Securities Commission granted the requested approvals and exemptive relief, finding that the acquisition would not materially affect the operation and administration of the funds.

The applicant applied on behalf of a silver bullion trust for exemptive relief from sections 14.2(1) and 14.2(2) of National Instrument 41-101.

The relief sought to permit unlisted entities to act as sub-custodians for the trust's physical silver bullion held in Canada, London, and New York.

The principal regulator granted the exemptive relief, subject to conditions including specific prospectus disclosure regarding the risks of direct silver purchases and limitations on the sub-custodians used.

The applicant, Covington Capital Corporation, applied to the Ontario Securities Commission for approval of a change of control of the investment fund manager and an abridgement of the notice period to securityholders from 60 days to 50 days.

The Commission granted the requested relief, conditional on no changes being made to the management, administration, or portfolio management of the funds for at least 60 days following the notice date.

Mavrix Fund Management Inc. applied for exemptive relief to approve a change of control resulting from its acquisition by Growth Works Ltd., and to abridge the 60-day notice period to unitholders to 38 days.

The Ontario Securities Commission granted the relief, conditional on unitholders receiving at least 38 days' notice and no changes being made to the management, administration, or portfolio management of the mutual funds for at least 60 days following the notice date.

The Manager applied on behalf of several mutual funds for exemptive relief from certain provisions of National Instrument 81-102 to permit the funds to engage in short selling of securities up to 20% of their net assets.

The principal regulator granted the requested relief, subject to various conditions including limits on the amount of short selling, requirements for cash cover, and specific disclosure obligations in the funds' prospectuses and annual information forms.

Mackenzie Financial Corporation applied for exemptive relief to approve the mergers of several terminating mutual funds into continuing funds, and for an exemption from the requirement to deliver simplified prospectuses and financial statements to investors of the terminating funds.

The Ontario Securities Commission granted the relief, permitting the delivery of a tailored prospectus and an information circular detailing how to access the financial statements, provided the mergers are approved by investors.

NewGrowth Corp. applied for exemptive relief from certain provisions of National Instrument 81-102 relating to the calculation of redemption prices, the timing of redemption payments, the filing of compliance reports, and the setting of record dates for distributions.

The relief was sought in connection with a share capital reorganization and the issuance of Class B Preferred Shares, Series 2.

The Ontario Securities Commission granted the requested exemptions, permitting the fund to calculate and pay retraction prices as described in its prospectus, relieving it from filing prescribed compliance reports, and allowing it to set record dates in accordance with TSX requirements.

The applicant sought exemptive relief from the Ontario Securities Commission under National Instrument 81-102 to permit the merger of Sarbit US Equity Trust into IA Clarington Navellier U.S. All Cap Fund.

The merger required approval because it did not meet all pre-approval criteria, specifically as it was not a qualifying exchange under the Income Tax Act and the continuing fund's current simplified prospectus and financial statements would not be sent to terminating fund unitholders.

The Commission granted the requested relief, subject to conditions including the provision of a tailored simplified prospectus and clear disclosure on how to access financial statements.

The applicant, an investment fund that uses specified derivatives, applied for exemptive relief from the requirement under section 14.2(3)(b) of National Instrument 81-106 to calculate its net asset value on a daily basis.

The Ontario Securities Commission granted the exemption, permitting the fund to calculate its net asset value on a weekly basis, provided its Class A Units are listed on the TSX.

The Filer applied for exemptive relief from certain requirements of National Instrument 81-101 and National Instrument 81-102.

The Filer is structured similarly to a closed-end fund but is considered a mutual fund for securities law purposes.

The Ontario Securities Commission granted the requested exemptions, allowing the Filer to use a long-form prospectus, bear offering expenses, borrow money to pay offering expenses, and deviate from standard mutual fund redemption and compliance reporting requirements.