OSC 2018

Citigroup Finance Canada ULC applied for an order to cease to be a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The principal regulator, the Ontario Securities Commission, found that the Filer met the requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, with no securities traded on a marketplace.

The order was granted.

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

The relief sought to permit Canadian and U.S. investment funds and managed accounts to engage in inter-fund trades of debt and exchange-traded securities, subject to certain conditions including independent review committee approval and pricing at the last sale price.

The Ontario Securities Commission granted the requested relief, finding it to be in the best interests of the clients by potentially lowering trading costs and reducing market disruption.

The Filer applied for exemptive relief on behalf of three alternative mutual funds from various provisions of National Instrument 81-102.

The requested relief would permit the funds to borrow cash, sell securities short, use specified derivatives, appoint certain sub-custodians, and pay performance-based incentive fees in excess of standard mutual fund limits, consistent with the proposed Alternative Funds Framework.

The Ontario Securities Commission granted the requested exemptions, subject to extensive conditions regarding disclosure, leverage limits, and compliance monitoring, until the Alternative Funds Framework comes into force.

Mackenzie Financial Corporation and IPC Investment Corporation applied for exemptive relief from the Fund Facts delivery requirement under National Instrument 81-101 for automatic switches between Retail Series and High Net Worth Series mutual funds.

They also sought relief to permit the use of a Consolidated Fund Facts Document for both series.

The Ontario Securities Commission granted the requested relief, subject to conditions including investor notification and specific disclosure requirements in the simplified prospectus and Consolidated Fund Facts Document.

MedReleaf Corp. applied for an order to cease being a reporting issuer in all applicable Canadian jurisdictions following its acquisition by Aurora Cannabis Inc. pursuant to a plan of arrangement.

The Ontario Securities Commission, acting as the principal regulator, granted the order, noting that MedReleaf's common shares had been delisted from the TSX and it had no intention to seek public financing.

The Filer applied for exemptive relief from the restriction in subsection 4.2(1) of National Instrument 81-102 to permit its mutual funds to purchase from, or sell to, a related dealer that acts as a principal dealer in the Canadian debt securities market.

The relief was sought in connection with the acquisition of the Filer's parent company by The Bank of Nova Scotia, which would make Scotia Capital Inc. a related dealer.

The principal regulator granted the exemption, subject to conditions including independent review committee approval and market integrity requirements.

The applicant, an investment fund manager, applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the prospectus for several of its exchange-traded funds.

The applicant sought to align the lapse date with that of other funds it managed to combine them into a single renewal prospectus, thereby reducing costs.

The Commission granted the requested relief, finding it would not be prejudicial to the public interest as no material changes had occurred and the current prospectus remained accurate.

The applicant applied for exemptive relief on behalf of proposed exchange-traded funds from certain prospectus form, underwriter's certificate, take-over bid, and sales and redemptions requirements.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including the filing of a simplified prospectus and annual information form, and compliance with specific provisions of National Instrument 81-102 for both mutual fund and ETF securities.

The Filer, Atlas Financial Holdings, Inc., applied for an order under the securities legislation to cease to be a reporting issuer in Ontario, Alberta, and British Columbia.

The Filer is a Cayman Islands company with its head office in the United States, and its securities are listed on the NASDAQ.

The Filer demonstrated that Canadian residents beneficially own less than 2% of its outstanding securities and comprise less than 2% of its total securityholders worldwide.

The Ontario Securities Commission, acting as the principal regulator, granted the order, determining that the Filer met the requirements to cease being a reporting issuer in Canada.

Brompton Funds Limited applied for exemptive relief on behalf of its exchange-traded mutual funds to permit investments in closed-end funds not offering securities under a simplified prospectus, and to pay brokerage fees for such trades.

The Ontario Securities Commission granted the requested exemptions from paragraphs 2.5(2)(a) and 2.5(2)(e) of National Instrument 81-102, subject to conditions including a 10% net asset value limit on such investments.

The applicant, BMO Investments Inc., applied for exemptive relief on behalf of its investment funds from certain provisions of National Instrument 81-102.

The relief sought to permit the funds to invest up to 10 percent of their net asset value in securities of actively-managed investment funds formed under BMO UCITS ETF ICAV, an Irish collective asset-management vehicle.

The Ontario Securities Commission granted the exemption, subject to conditions ensuring the underlying funds are subject to substantially similar regulatory requirements and that the investments comply with other applicable disclosure and concentration limits.

The applicants, MD Financial Management Inc. and 10803553 Canada Limited, applied to the Ontario Securities Commission for approval of a change of control of the Manager under subsection 5.5(1)(a.1) of National Instrument 81-102.

The change of control resulted from the indirect acquisition of the Manager by The Bank of Nova Scotia.

The principal regulator was satisfied that the test set out in the legislation was met and granted the requested approval.

Ninepoint Partners LP applied for exemptive relief on behalf of several investment funds from certain provisions of National Instrument 81-102.

The requested relief sought to permit the funds to enter into Cleared Swaps and deposit cash or other portfolio assets as margin with a Futures Commission Merchant.

The Ontario Securities Commission granted the requested relief, subject to specific conditions regarding the clearing corporations and margin deposits.

CIBC Asset Management Inc., as manager of the CIBC Multi-Asset Absolute Return Strategy, applied for exemptive relief from the 90-day deadline to file a final prospectus after the receipt of a preliminary prospectus under subsection 2.3(1.1) of NI 41-101.

The Director of the Ontario Securities Commission granted the exemption, subject to the condition that the final prospectus be filed by October 13, 2018.

Ninepoint Partners LP applied for exemptive relief from the prohibition in section 4.2(1) of National Instrument 81-102 to permit its managed investment funds to purchase and sell debt securities between each other.

The Ontario Securities Commission granted the relief, subject to conditions including that the trades are consistent with the funds' investment objectives, approved by the independent review committee, and comply with section 6.1(2) of National Instrument 81-107.

The Filer applied for exemptive relief on behalf of its mutual funds to be exempt from certain prospectus form requirements, underwriter's certificate requirements, take-over bid requirements, and sales and redemption requirements for its exchange-traded series and mutual fund series.

The Ontario Securities Commission granted the requested relief, subject to conditions including filing a simplified prospectus and annual information form, providing ETF Facts to dealers, and complying with specific parts of NI 81-102 for each respective series.

The applicant applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The applicant represented that it is not an OTC reporting issuer, its 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 securities legislation.

The principal regulator granted the requested order, finding that the statutory tests were met.

The applicant applied for exemptive relief on behalf of several exchange-traded mutual funds.

The requested relief included exemptions from the requirement to include an underwriter's certificate in the funds' prospectuses and from the take-over bid requirements for purchasers of listed securities in the normal course.

The Ontario Securities Commission granted the requested exemptions, subject to conditions regarding the delivery of ETF Facts documents and prospectus disclosure.

BMO Asset Management Inc. applied for exemptive relief under section 19.1 of National Instrument 81-102 to permit certain mutual funds to invest up to 10% of their net asset value in units of underlying alternative funds that are not subject to NI 81-102 and whose securities are not qualified for distribution in the local jurisdiction.

The Ontario Securities Commission granted the exemption, subject to conditions including compliance with specified investment restrictions and disclosure requirements.

The Filer, Charlotte's Web Holdings, Inc., applied for exemptive relief from various prospectus and continuous disclosure requirements relating to restricted securities under National Instrument 41-101, National Instrument 51-102, and OSC Rule 56-501.

The relief was sought in connection with the Filer's initial public offering and reorganization, which would result in the issuance of proportionate voting shares carrying 400 votes per share, technically rendering the common shares 'restricted securities'.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including that the Filer has no other restricted securities issued and outstanding.