OSC 2014

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

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

The decision maker was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The applicant applied for exemptive relief from the prohibitions in National Instrument 81-105 regarding commission rebates.

The applicant sought to allow its dealers and representatives to pay commission rebates to clients switching to affiliated mutual funds, which is otherwise prohibited.

The Ontario Securities Commission granted the exemption, subject to conditions ensuring that rebates are not conditional on purchasing affiliated funds and that clients receive proper disclosure.

The Applicant, Citation Minerals Inc., applied for a decision under the securities legislation of multiple jurisdictions that it is no longer a reporting issuer.

The Applicant 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 Ontario Securities Commission granted the application, ordering that the Applicant is not a reporting issuer.

The applicant, True North Apartment Real Estate Investment Trust, applied for exemptive relief from the financial statement requirements for a business acquisition report under subsections 8.4(1) and (3) of National Instrument 51-102.

The applicant had acquired 29 properties, but complete historical financial records for certain properties were unavailable.

The Ontario Securities Commission granted the exemption, permitting the applicant to file alternative disclosure, including pro forma financial statements and audited annual carve-out financial statements that excluded the unavailable information.

The Filer, Interactive Brokers Canada Inc., applied for a decision to be exempt from the prospectus requirement in respect of the distribution of over-the-counter foreign exchange contracts to investors resident in Canada.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the Filer remains registered as an investment dealer, complies with IIROC rules, and provides clients with a risk disclosure document prior to their first transaction.

The Filers applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the simplified prospectus and annual information form of the Fidelity Floating Rate High Income Fund from September 26, 2014, to October 30, 2014.

The extension was requested to align the Fund's prospectus renewal with that of 96 affiliated mutual funds managed by the same manager, thereby reducing costs and allowing investors to more easily compare the funds.

The Commission granted the requested relief, noting that there had been no material changes to the Fund and that the extension would not be prejudicial to the public interest.

The applicant, Tangerine Investment Management Inc., applied for exemptive relief on behalf of its mutual funds from sections 4.1(1) and 4.1(2) of National Instrument 81-102.

The relief sought to permit the funds to invest in debt securities of an issuer during or shortly after a distribution underwritten by an affiliate, and to invest in securities of a related person despite the funds being dealer-managed.

The Ontario Securities Commission granted the requested relief subject to several conditions, including independent review committee approval and pricing requirements.

The applicant, Northwest & Ethical Investments L.P., applied for exemptive relief on behalf of its Corporate Classes from paragraph 2.5(2)(b) of National Instrument 81-102.

The relief sought to permit each Corporate Class to invest in a Trust Fund that holds more than 10% of its net asset value in other Underlying Funds, creating a multi-tier fund structure.

The Ontario Securities Commission granted the exemption, finding it would be more efficient and less costly for the Corporate Classes, provided the investments otherwise comply with section 2.5 of NI 81-102 and the simplified prospectus discloses the name of the Trust Fund.

The Filer, Agilent Technologies, Inc., applied for an exemption from the prospectus requirements under Ontario securities legislation in connection with the spin-off of its subsidiary, Keysight Technologies, Inc. The spin-off involved a distribution of Keysight shares by way of a dividend in specie to the Filer's shareholders, including a de minimis number of Canadian shareholders.

The Ontario Securities Commission granted the exemption, provided that the first trade in the Keysight shares acquired pursuant to the spin-off is deemed a distribution unless the conditions in National Instrument 45-102 are satisfied.

The Filer applied on behalf of the Fund for exemptive relief from the borrowing restrictions in subsection 2.6(a) of National Instrument 81-102.

The Fund sought permission to borrow up to 35% of its net asset value to implement a leveraged investment strategy and hedge market risk.

The principal regulator granted the requested relief, subject to conditions including compliance with National Instrument 81-104 and specific limits on the use of borrowed funds for portfolio investments and margin.

The Applicant, McGraw-Hill Ryerson Limited, applied to the securities regulatory authorities in several Canadian jurisdictions for a decision that it is no longer a reporting issuer.

The Applicant represented that its outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, its securities are not traded on any marketplace, and it is not in default of any obligations under securities legislation.

The Ontario Securities Commission granted the application and ordered that the Applicant is not a reporting issuer.

Marquest Asset Management Inc. applied to the Ontario Securities Commission for approval to merge several mutual funds under its management pursuant to subsection 5.5(1)(b) of National Instrument 81-102.

The applicant could not rely on the pre-approval criteria in section 5.6(1) because the investment objectives of the merging and continuing funds were not substantially similar, among other reasons.

The Principal Regulator found that the proposed mergers would reduce duplication, increase operational efficiencies, and achieve a fair and reasonable result for securityholders.

The application for merger approval was granted.

The Applicant, DDS Wireless International Inc., applied to the Ontario Securities Commission and other provincial regulators for a decision that it is no longer a reporting issuer.

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

The Commission was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The Applicant, PNI Digital Media ULC, applied to the Ontario Securities Commission and other jurisdictions for a decision that it is no longer a reporting issuer.

The Applicant 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 Commission was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The applicant filed for exemptive relief under section 13.1 of National Instrument 51-102 to be exempt from the requirement to include certain historical financial statements in its business acquisition report.

The applicant demonstrated that it had made every reasonable effort to obtain the historical accounting records for the acquired properties but was unable to do so.

The Ontario Securities Commission granted the requested relief, provided the applicant includes alternative financial statements and incorporates by reference its financial forecast and appraisals description.

The applicant, RBC Global Asset Management Inc., applied for exemptive relief from certain provisions of National Instrument 81-102 to permit its mutual funds (Top Funds) to invest in exchange-traded mutual funds (Underlying ETFs) managed by the applicant or its affiliates.

The relief sought exemptions from concentration restrictions, control restrictions, and prohibitions on paying brokerage commissions for trades in affiliated ETFs.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including that the Top Funds do not short sell the Underlying ETFs and that neither use leverage.

The applicant applied for exemptive relief on behalf of a mutual fund to change its fundamental investment objective without securityholder approval and to permit a three-tier investment structure.

The fund sought to invest directly in a trust fund, which in turn invests in third-tier funds, due to the elimination of tax benefits associated with character conversion transactions.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including providing written notice to securityholders at least 60 days before the effective date of the change.

Diversinet Corp. applied to the Ontario Securities Commission for a decision that it be deemed to have ceased to be a reporting issuer.

The Filer had previously announced a voluntary winding-up, delisted its shares, and appointed a liquidator.

The Commission granted the requested exemptive relief, deeming the Filer to have ceased to be a reporting issuer.

The applicants, 1832 Asset Management L.P. and Aurion Capital Management Inc., applied for exemptive relief on behalf of several mutual funds to permit the funds to invest in a secondary offering of CI Financial Corp. shares.

The relief was required because The Bank of Nova Scotia, a substantial securityholder of the applicants, held a significant interest in CI Financial Corp., triggering the investment prohibition in National Instrument 81-102.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval, maximum investment limits, and pricing requirements.

The Applicant, Canada Bread Company, Limited, applied for a decision that it is no longer a reporting issuer under the securities legislation of several provinces.

The Ontario Securities Commission, satisfied that the outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and that no securities are traded on a marketplace, granted the order.