OSC 2018

The Filer, a capital pool company, applied for exemptive relief from the requirement to file certain financial statements of Heliene Inc., the reverse takeover acquirer in its Qualifying Transaction.

The Filer also requested that the application and decision remain confidential for a specified period.

The principal regulator granted the requested exemptive relief, provided the Filing Statement includes the specified financial statements and is filed on SEDAR following TSXV acceptance.

The confidentiality request was also granted.

The Filer, Abigail Capital Corporation, applied to the Ontario Securities Commission for an exemption from the requirements in NI 51-102 and Form 51-102F3 to file certain financial statements of a reverse takeover acquirer.

The Filer is completing a reverse takeover of OverActive Media Corp. The Commission granted the exemption, allowing the Filer to omit the stub period financial statements of certain acquired entities, provided the filing statement includes the specified consolidated financial statements and is filed on SEDAR.

Franklin Templeton Investments Corp. applied to the Ontario Securities Commission for exemptive relief from the inter-fund trading prohibitions in National Instrument 81-102 and National Instrument 31-103.

The applicant sought to permit certain Canadian and U.S. funds and client accounts to engage in inter-fund trades of debt and exchange-traded securities.

The principal regulator granted the requested relief, subject to conditions including independent review committee approval, compliance with U.S. inter-fund trading rules for cross-border trades, and periodic reporting requirements.

BMO Investments Inc. applied for exemptive relief on behalf of its investment funds to permit them to invest in affiliated UCITS ETFs listed on the Irish Stock Exchange and traded on the London Stock Exchange.

The Ontario Securities Commission granted the exemption from the investment restrictions in National Instrument 81-102, subject to certain conditions, including that the funds do not invest more than 10% of their net asset value in a single UCITS ETF and no more than 20% in aggregate.

RBC Global Asset Management Inc. applied for exemptive relief on behalf of its investment funds to permit them to invest in London iShares ETFs listed on the London Stock Exchange.

The exemption from paragraphs 2.5(2)(a), (a.1), (c) and (c.1) of National Instrument 81-102 was sought because the ETFs are not listed on a Canadian or US stock exchange and therefore do not qualify as index participation units.

The Ontario Securities Commission granted the relief, subject to conditions including investment limits and disclosure requirements, finding that the London Stock Exchange provides substantially equivalent regulatory oversight and the investments would provide an efficient way for the funds to achieve diversification.

The Filer applied on behalf of the Fund for exemptive relief from various provisions of National Instrument 81-102 Investment Funds.

The requested relief included exemptions related to single issuer concentration, specified derivatives, cash borrowing, short selling, incentive fees, and purchase and redemption processing frequencies.

The principal regulator granted the requested relief, subject to extensive conditions regarding disclosure, leverage limits, borrowing agreements, and distribution restrictions, to allow the Fund to operate as an alternative mutual fund.

The Filer, DBRS Limited, applied to the Ontario Securities Commission for an amended and restated decision to add DBRS Germany as a designated rating organization (DRO) affiliate and remove DBRS México.

The Commission, acting as the principal regulator under the passport system, revoked the previous 2016 designation and granted the amended designation order, designating the Filer as a DRO and DBRS US, DBRS UK, and DBRS Germany as DRO affiliates.

Galileo Global Equity Advisors Inc. applied for exemptive relief from the trading prohibitions in paragraph 13.5(2)(b) of National Instrument 31-103.

The applicant sought permission to conduct inter-fund trades and in specie transactions between various public funds, pooled funds, and managed accounts.

The Ontario Securities Commission granted the requested exemption, subject to conditions including independent review committee approval and compliance with specific pricing and valuation requirements.

Mackenzie Financial Corporation and IPC Investment Corporation applied for exemptive relief from the requirement in subsection 3.2.01(1) of NI 81-101 to deliver a Fund Facts document before accepting an instruction for the purchase of a mutual fund security.

The relief was sought for automatic switches made pursuant to the Systematic DSC to Unbundled Series Switching Program.

The Ontario Securities Commission granted the exemption, subject to conditions including initial delivery of the Fund Facts and annual notification to investors.

The applicant, Evolve Funds Group Inc., applied for exemptive relief to extend the lapse dates of the long form prospectuses for three of its exchange-traded funds to April 6, 2019.

The extension was sought to align the renewal dates with those of other funds managed by the applicant, allowing them to be combined into a single prospectus to reduce costs and streamline disclosure.

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

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 Filer, CMC Markets Canada Inc., applied to the Ontario Securities Commission for an exemption from the prospectus requirement for the distribution of contracts for difference (CFDs) and other over-the-counter (OTC) contracts to investors in applicable Canadian jurisdictions.

The Filer sought this relief to restructure its business and align its Canadian operations with its non-UK affiliates, acting as the counterparty to client trades while hedging on a back-to-back basis with its UK affiliate.

The Commission granted the requested relief, subject to conditions including that the Filer remain registered as an investment dealer, comply with IIROC rules, and provide clients with a comprehensive risk disclosure document.

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.

Gazit Canada Financial Inc. applied for an order under the securities legislation to cease to be a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The Ontario Securities Commission, acting as the principal regulator, found that the Filer met the necessary conditions, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and not being in default of securities legislation.

The application was granted.

The Filer applied to the Ontario Securities Commission for approval under subsection 5.5(1)(b) of National Instrument 81-102 to merge the Taylor North American Equity Opportunities Fund into the Brompton Global Dividend Growth ETF.

The merger required approval because the funds did not have substantially similar investment objectives.

The Commission granted the requested approval, noting the merger would provide unitholders with lower fees, increased liquidity, and a tax-deferred exchange.

The applicant, BMO Nesbitt Burns Inc., applied on behalf of two investment funds for approval under paragraph 5.5(1)(b) of National Instrument 81-102 to merge the PineBridge Investment Grade Preferred Securities Fund into the BMO PineBridge Preferred Securities TACTIC Fund.

The merger was not a qualifying exchange under the Income Tax Act and involved changes to the continuing fund's investment objectives.

The Ontario Securities Commission granted the requested exemptive relief, subject to conditions regarding press releases and unitholder notices.

The Filer applied to the Ontario Securities Commission for exemptive relief from the requirements of paragraphs 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 Investment Funds.

The relief was sought to permit the Filer to reference FundGrade A+ Awards and FundGrade Ratings in sales communications relating to its mutual funds.

The Commission granted the requested relief, subject to specific disclosure conditions and time limits on the use of the awards.

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 Filer applied to the Ontario Securities Commission for exemptive relief on behalf of several proposed exchange-traded funds (ETFs).

The Filer sought exemptions from the requirement to include an underwriter's certificate in the ETFs' prospectus and from the take-over bid requirements for purchasers of ETF securities in the normal course on a marketplace.

The Commission granted both exemptions, noting that authorized dealers and designated brokers do not perform conventional underwriting services and that the application of take-over bid requirements could adversely impact the liquidity of the ETF securities.

The applicant, RBC Global Asset Management Inc., applied for exemptive relief from the investment prohibition in section 4.1(1) of National Instrument 81-102.

The relief sought to permit the mutual funds managed by the applicant to invest in debt securities during a distribution period where a related dealer acts as an underwriter, and to increase the permitted acquisition limit from 20% to 50% of the securities distributed.

The principal regulator granted the requested relief, subject to conditions including independent review committee approval and pricing requirements.