OSC 2015

The Applicant, Sintana Holdings Corp., 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, its securities are not traded on any marketplace, and it is not in default of its obligations.

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

The Filer applied to the Ontario Securities Commission for approval under subsection 5.5(1)(b) of National Instrument 81-102 to merge two terminating funds into a continuing fund.

The merger did not satisfy all criteria for pre-approved reorganizations because the fundamental investment objectives and fee structures were not substantially similar, and unitholders were not provided a right to redeem prior to the merger date.

The Commission granted the requested exemptive relief.

Alder Resources Ltd. applied to the Ontario Securities Commission and the Alberta Securities Commission for a decision that it is no longer 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 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 applied for a decision under the securities legislation of Alberta and Ontario 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 decision maker was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The Filer applied for exemptive relief from the trading prohibition in subsection 13.5(2)(b) of National Instrument 31-103.

The relief sought would permit the Filer's investment funds to engage in inter-fund trades of exchange-traded securities at the last sale price rather than the closing sale price.

The principal regulator granted the requested relief, subject to conditions including independent review committee approval and compliance with specific pricing and trading procedures.

The Filer applied for exemptive relief from the requirement to deliver the most recently filed Fund Facts document for purchases of mutual fund securities under a pre-authorized investment plan.

The Ontario Securities Commission granted the exemption, subject to conditions including the provision of a one-time notice to participants advising them of their rights and how to request the Fund Facts document.

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

The applicant, manager of a mutual fund, sought exemptive relief to extend the time limits for the renewal of the fund's simplified prospectus and annual information form.

The extension was requested to align the fund's lapse date with that of 106 other mutual funds managed by the applicant, allowing them to be combined into a single simplified prospectus to reduce costs and administrative burden.

The principal regulator granted the exemption, noting it would not affect the accuracy of the current prospectus and would not be prejudicial to the public interest.

The Filer applied for exemptive relief to be treated as a venture issuer under various National Instruments and Multilateral Instrument 61-101, despite having its common shares listed on the Lima Venture Exchange and proposing to list on the Santiago Venture Market.

The definition of venture issuer typically excludes issuers listed on foreign marketplaces.

The Ontario Securities Commission granted the relief, allowing the Filer to comply with venture issuer requirements, provided it maintains its TSX Venture Exchange listing and the foreign exchanges remain junior markets.

The Filer, Gold Reserve Inc., applied for exemptive relief to continue being treated as a 'venture issuer' under Canadian securities legislation despite obtaining a secondary listing on the Santiago Venture Market in Chile.

The definition of 'venture issuer' excludes issuers listed on a marketplace outside of Canada or the US.

The Ontario Securities Commission granted the relief, noting that the Santiago Venture Market is a venture capital market that defers to the TSX Venture Exchange's filing requirements, imposing no additional ongoing filing obligations.

The applicants, IA Clarington Investments Inc. and T.E. Investment Counsel Inc., applied for a decision that several investment funds are not reporting issuers in the applicable jurisdictions.

The funds ceased offering units under a prospectus and are now only distributed to managed account clients or accredited investors.

The Ontario Securities Commission, as principal regulator, granted the requested exemptive relief, noting that ceasing to be a reporting issuer would reduce regulatory and financial burdens for the funds.

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 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 its obligations.

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

Sun Life Global Investments (Canada) Inc. applied for exemptive relief from the prohibitions in National Instrument 81-102 and National Instrument 31-103 to permit its managed investment funds and managed accounts to engage in inter-fund trades of debt and exchange-traded securities, and to permit in-specie subscriptions and redemptions.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval, compliance with pricing requirements, and record-keeping obligations.

The Filers applied for exemptive relief from the inter-fund trading prohibitions in NI 81-102 and NI 31-103 to permit mutual funds, closed-end funds, pooled funds, and managed accounts to engage in inter-fund trades of debt securities and exchange-traded securities at the last sale price.

They also sought relief to permit in specie subscriptions and redemptions by managed accounts and pooled funds in the funds.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval and compliance with pricing and record-keeping requirements.

The applicant, Invesco Canada Ltd., applied for exemptive relief from certain provisions of National Instrument 81-102 Investment Funds on behalf of its mutual funds.

The relief sought to permit the funds to enter into cleared swaps and deposit cash and portfolio assets directly with a Futures Commission Merchant and indirectly with a Clearing Corporation as margin.

The Ontario Securities Commission granted the requested relief, subject to specific conditions regarding the clearing corporations and margin limits, until revisions to NI 81-102 addressing OTC derivatives clearing come into force.

The Applicant, Kingsway Linked Return of Capital Trust, applied to the securities regulatory authorities in multiple 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, and are not traded on any marketplace.

The Ontario Securities Commission, acting as the principal regulator, found the statutory tests were met and ordered that the Applicant is not a reporting issuer.

CI Investments Inc. applied for exemptive relief on behalf of its investment funds to permit them to invest in U.S. Blocker Corporations.

The relief was sought to avoid double-taxation on capital gains and income from investments in U.S. pass-through issuers.

The Ontario Securities Commission granted the requested relief from various provisions of National Instrument 81-102, National Instrument 31-103, and the Securities Act, subject to certain conditions regarding the structure and voting control of the U.S. pass-through issuers.

Sightline Pension Solutions Inc. applied to the Ontario Securities Commission for exemptive relief from the dealer registration and prospectus requirements in respect of trades in mutual funds to Capital Accumulation Plans (CAPs) and Non-Tax Assisted CAPs.

The Commission granted the requested relief, subject to conditions including disclosure requirements, investment decision-making tools, and contribution limits for Non-Tax Assisted CAPs.

The applicant applied for exemptive relief from paragraph 2.3(1)(h) of National Instrument 81-102 to permit a mutual fund to invest in standardized futures with underlying interests in sweet crude oil or natural gas for hedging and non-hedging purposes.

The principal regulator granted the exemption, subject to conditions including limits on the fund's aggregate underlying market exposure to physical commodities and requirements for prospectus disclosure.

RBC Global Asset Management Inc. applied for exemptive relief on behalf of its mutual funds from the prohibition in subsection 4.1(1) of National Instrument 81-102.

The relief sought to permit the funds to invest in equity securities during a distribution, or within 60 days after, even if an affiliate of the filer acts as an underwriter.

The Ontario Securities Commission granted the exemption, subject to conditions including independent review committee approval and that the distribution occurs in a foreign jurisdiction where the related dealer is regulated.