OSC 2013

The Filers applied for exemptive relief from certain prospectus disclosure, dealer registration, and prospectus delivery requirements under the Securities Act in connection with a proposed equity line of credit transaction.

The transaction involves the Issuer selling newly issued securities to the Purchaser at a discount to the market price, with the Purchaser subsequently reselling the securities in the secondary market.

The Ontario Securities Commission granted the requested relief, subject to conditions including restrictions on the number of securities distributed, limitations on the Purchaser's activities, and specific disclosure requirements.

The applicant, a real estate investment trust, applied for exemptive relief from the requirement to file a business acquisition report under Part 8 of National Instrument 51-102 for two recent property acquisitions.

The applicant argued that the acquisitions were not significant from a practical, commercial, business, or financial perspective, and that the required significance tests produced anomalous results due to its short operating history.

The Ontario Securities Commission granted the requested exemption.

The Filers applied for exemptive relief from the prohibition in section 4.1(1) of National Instrument 81-102 to permit their dealer-managed mutual funds to invest in non-government debt securities during a distribution, or the 60-day period following, where a related dealer acts as an underwriter and the securities lack a designated rating.

The Ontario Securities Commission granted the relief, subject to conditions including independent review committee approval, independent underwriter participation, and pricing and volume restrictions.

The Filers applied for exemptive relief on behalf of certain mutual funds to permit the continuing funds to use the historical performance data and financial highlights of the existing funds following a merger.

The Ontario Securities Commission granted the relief, finding that the continuing funds would be managed in a substantially similar manner and that treating them as fungible with the existing funds for financial data purposes would benefit investors and prevent confusion.

The applicants sought exemptive relief under various National Instruments to permit continuing mutual funds to use the start dates, past performance data, and financial highlights of existing funds following a merger, and to be exempt from seed capital requirements.

The principal regulator granted the requested relief, finding it would be beneficial to investors and would not be misleading, provided the continuing funds comply with specified disclosure conditions.

The applicants, a registered dealer and an investor communications provider, applied for exemptive relief from the prospectus delivery requirements under the Securities Act.

They sought permission to use proprietary technology to deliver the most recently filed Fund Facts document instead of a simplified prospectus to satisfy delivery requirements for mutual fund purchases.

The Ontario Securities Commission granted the relief, subject to conditions including that investors be provided with equivalent rights of withdrawal and rescission upon receipt of the Fund Facts, and that the relief would terminate on the effective date of the Stage 2 Amendments to the point of sale disclosure project.

The Filer applied for exemptive relief from the mutual fund self-dealing restrictions in the Securities Act to allow its top funds to invest in underlying funds under common management.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the top funds are distributed solely pursuant to prospectus exemptions, the investments are compatible with the top funds' objectives, and appropriate disclosure is provided to investors regarding potential conflicts of interest.

The applicant sought exemptive relief from certain derivatives and custodial requirements under National Instrument 81-102 to permit its mutual funds to enter into swap transactions cleared through a clearing corporation.

The relief was required due to new U.S. requirements under the Dodd-Frank Act to clear over-the-counter derivatives, including swaps.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the deposit of cash and portfolio assets as margin with Futures Commission Merchants, treating cleared swaps similarly to other cleared derivatives.

The Filer, an SEC foreign issuer, applied for exemptive relief on behalf of its wholly-owned indirect subsidiary, the Issuer, to allow the Issuer to issue debt securities guaranteed by the Filer without complying with continuous disclosure, certification, insider reporting, audit committee, and corporate governance requirements.

The Ontario Securities Commission granted the relief, subject to conditions, including that the Filer continues to comply with U.S. foreign private issuer disclosure regimes and files material change reports for events not reported on SEC Form 6-K.

The Filer applied for exemptive relief from the requirement under section 8.4 of National Instrument 51-102 to include certain historical financial statements in a business acquisition report.

The Filer had acquired properties but was unable to obtain the necessary historical accounting records for one of the properties despite making every reasonable effort.

The Ontario Securities Commission granted the requested relief, subject to the condition that the Filer include alternative specified financial statements in the report.

The applicant, Raymond James & Associates, Inc., applied for exemptive relief from certain disclosure requirements under National Instrument 33-105 and OSC Rule 45-501.

The relief sought pertained to the Connected Issuer Disclosure, Related Issuer Disclosure, and Right of Action Disclosure in offering memorandums for foreign security private placements to permitted clients in Canada.

The Ontario Securities Commission granted the requested relief subject to specific conditions, including the provision of a notice to prospective purchasers and compliance with U.S. disclosure requirements for underwriter conflicts of interest.

The Filer, Gazit-Globe Ltd., applied for an exemption from the requirement under National Instrument 44-101 to incorporate by reference certain Non-Incorporated Exhibits into a short form prospectus.

The Filer argued that incorporating these lengthy exhibits, which are attached to its Form 20-F, would impose a disproportionately burdensome translation obligation under Quebec securities law.

The Principal Regulator granted the requested relief, provided the Filer complies with specified conditions, including filing the exhibits on SEDAR and disclosing the exemption in its prospectus.

The applicant, 1832 Asset Management L.P., applied for exemptive relief on behalf of existing and future mutual funds from certain derivatives and custodial requirements under National Instrument 81-102.

The relief was sought to permit the funds to enter into swap transactions cleared through a clearing corporation, in response to new U.S. requirements under the Dodd-Frank Act to clear over-the-counter derivatives.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the deposit of cash and portfolio assets as margin with Futures Commission Merchants, treating cleared swaps similarly to other cleared derivatives.

The applicant, a reporting issuer, applied for exemptive relief from continuous disclosure, certification, and audit committee requirements under the applicable securities legislation and the Business Corporations Act.

The applicant proposed a reorganization that would result in it no longer satisfying the conditions of a previous exemptive relief decision regarding its credit support issuer structure.

The Ontario Securities Commission granted the requested exemptions, subject to several conditions, including that the parent real estate investment trust continues to beneficially own all voting securities and provides a full and unconditional guarantee of the applicant's convertible debentures.

The Filer, Dundee Industrial Limited Partnership, applied for exemptive relief from continuous disclosure and certification requirements under National Instruments 51-102 and 52-109.

The Filer proposed a corporate reorganization that would result in it becoming a reporting issuer by virtue of becoming a co-obligor for convertible debentures.

The principal regulator granted the requested exemptions, subject to several conditions, including that the Filer's parent entity continues to provide a full and unconditional guarantee of the debentures and that the Filer does not issue other securities except as specified.

The Filers applied to the Ontario Securities Commission for approval of a change of manager for the Redwood Energy Growth Class mutual fund from Redwood Asset Management Inc. to Aston Hill Asset Management Inc. The Commission granted the exemptive relief, finding that the change of manager was not detrimental to unitholders or contrary to the public interest, provided that prior securityholder approval is obtained.

The filer, Hillsdale Investment Management Inc., applied for exemptive relief from the prohibitions in National Instrument 31-103 to permit in specie subscriptions and redemptions between managed accounts and pooled funds, and between different pooled funds.

The Ontario Securities Commission granted the relief subject to conditions, including obtaining client consent, ensuring the portfolio securities are acceptable and consistent with investment objectives, and maintaining written records of the transfers.

The Filer applied to the Ontario Securities Commission for exemptive relief from subsection 2.3(1.1) of National Instrument 41-101, which prohibits filing a final 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 by January 31, 2014.

The applicant real estate investment trust applied for exemptive relief from the requirement to file a business acquisition report under Part 8 of National Instrument 51-102 following its initial public offering.

The applicant argued that applying the significance tests using its pre-IPO financial statements produced anomalous results, and that the acquisition was not significant from a practical, commercial, business, or financial perspective.

The principal regulator granted the requested exemption.

The applicant, manager of two mutual funds, applied to the Ontario Securities Commission for exemptive relief under section 6.1 of National Instrument 81-101.

The applicant sought an exemption from subsection 2.1(2) of NI 81-101, which prohibits filing a prospectus more than 90 days after the receipt of a preliminary prospectus.

The Director granted the requested exemption, subject to the condition that the prospectus be filed no later than December 16, 2013.