OSC 2020

The issuer applied to the Ontario Securities Commission to revoke a failure-to-file cease trade order issued due to unfiled annual financial statements, management's discussion and analysis, and related certifications.

The issuer subsequently filed the outstanding documents, paid all required fees, and undertook to hold an annual meeting of shareholders.

The Principal Regulator found that the statutory test was met and granted the order revoking the cease trade order.

Eastmain Resources Inc. applied to the Ontario Securities Commission for an order to cease being a reporting issuer following its acquisition by Fury Gold Mines Limited through a statutory plan of arrangement.

The Commission found that the application met the legislative test and granted the order, noting that the Filer's shares had been delisted from the TSX and it had no intention to seek public financing.

The Filer, a special purpose acquisition corporation, applied for exemptive relief from various restricted security rules under National Instrument 41-101, OSC Rule 56-501, and National Instrument 51-102.

The relief was sought in connection with the Filer's proposed qualifying transaction and the issuance of common shares and proportionate voting shares.

The Ontario Securities Commission granted the requested exemptions, subject to certain conditions regarding the Filer's outstanding securities and disclosure requirements.

The Filer applied to the Ontario Securities Commission for approval of the proposed mergers of several terminating mutual funds into continuing mutual funds under section 5.5(1)(b) of National Instrument 81-102.

The proposed mergers did not meet all criteria for pre-approved reorganizations under section 5.6(1) because some would be implemented on a taxable basis to preserve unused tax losses, and the investment objectives were not substantially similar in all respects.

The Commission granted the requested approval, subject to the Filer obtaining prior approval from the unitholders of the terminating funds at a special meeting.

The Filer applied for exemptive relief from the prohibition in National Instrument 31-103 against a registered adviser knowingly causing an investment portfolio to purchase or sell a security from or to another investment portfolio managed by the same adviser.

The relief was sought to facilitate the merger of the Terminating Fund into the Continuing Fund.

The principal regulator granted the exemption, provided that the merger is approved at a special meeting of unitholders of the Terminating Fund.

The Filer applied for exemptive relief from the restriction in section 13.5(2)(a) of National Instrument 31-103 to permit a mutual fund it manages to invest in a related short-term private fixed income fund.

The relief was sought because obtaining written consent from all unitholders of the public mutual fund was impractical.

The Ontario Securities Commission granted the relief, subject to conditions including independent valuation of the underlying fund, independent review committee approval, and specific prospectus disclosure.

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

The merger could not be pre-approved under section 5.6(1) because the continuing fund is an alternative mutual fund with a different investment objective and fee structure, and the merger would be completed on a taxable basis.

The Commission granted the requested approval, provided the applicant obtains prior approval from the terminating fund's securityholders.

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

The Filer represented that its outstanding securities are beneficially owned by fewer than 51 securityholders worldwide and are not traded on any marketplace.

The principal regulator was satisfied that the statutory test was met and granted the requested order.

Dealnet Capital Corp. applied to the Ontario Securities Commission for an order that it has ceased to be a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The principal regulator found that the Filer met the requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and not being in default of securities legislation.

The order was granted.

The Filer, a French corporation, applied to the Ontario Securities Commission for exemptive relief from the prospectus and dealer registration requirements in connection with a global employee share offering.

The offering involved the issuance of units of a temporary French mutual fund (FCPE) to Canadian employees, which would later merge into a permanent FCPE holding the Filer's ordinary shares.

The Commission granted the requested relief, subject to conditions including that the first trade of the securities be made outside of Canada or to a person outside of Canada, as the Filer is a foreign issuer and not a reporting issuer in any Canadian jurisdiction.

The Issuer, 3 Sixty Risk Solutions Ltd., applied for a partial revocation of a failure-to-file cease trade order issued by the Ontario Securities Commission.

The Issuer sought the partial revocation to complete a private placement of up to $6,750,000 to raise funds necessary to prepare and file outstanding continuous disclosure documents and for working capital.

The Commission granted the partial revocation order, permitting trades necessary for the private placement, subject to conditions including providing lenders with copies of the order and obtaining written acknowledgements.

The Filer applied for exemptive relief from the requirements of Item 14.2 of Form 51-102F5 regarding disclosure for a significant acquisition in a management information circular.

The Filer argued that under upcoming amendments to National Instrument 51-102, the acquisition would not meet the new 30% significance threshold, although it met the current 20% threshold.

The Ontario Securities Commission granted the requested exemption.

Questrade, Inc. applied to the Ontario Securities Commission for an exemption from the prospectus requirement for the distribution of contracts for difference (CFDs) and over-the-counter foreign exchange contracts to investors in applicable jurisdictions.

The Commission granted the requested relief, subject to conditions including that Questrade remains registered as an investment dealer, complies with IIROC rules, and provides clients with a comprehensive risk disclosure document prior to trading.

The Filers applied for exemptive relief from the requirement to deliver Fund Facts and ETF Facts documents for purchases of mutual fund and ETF securities made in connection with rebalancing and additional investment trades within a model portfolio service.

The principal regulator granted the exemption, subject to conditions including providing clients with advance notice of the exemption, instructions on how to request the documents, and annual reminders.

The Filers applied to the Ontario Securities Commission for exemptive relief from the Prospectus Delivery Requirement and certain Prospectus Form Requirements in connection with an at-the-market (ATM) distribution of common shares.

The Commission granted the requested relief, subject to conditions including alternative disclosure requirements and reporting obligations, noting that prospectus delivery is impracticable in an ATM distribution where the identity of purchasers is unknown.

The Filer applied to the Ontario Securities Commission for exemptive relief from the requirement in subsection 6.1(1) of National Instrument 81-102, which mandates that all portfolio assets of an investment fund be held by a single custodian.

The Filer sought to appoint multiple custodians, specifically prime brokers, to facilitate short selling and securities lending strategies.

The Commission granted the exemption, subject to conditions requiring a single entity to reconcile all portfolio assets and the Filer to maintain appropriate operational systems.

The applicant, FT Portfolios Canada Co., applied for exemptive relief on behalf of the First Trust Senior Loan ETF (CAD Hedged) from certain provisions of National Instrument 81-102.

The requested relief would permit the Fund to invest up to 100% of its net asset value in the First Trust Senior Loan Fund, a U.S. exchange-traded fund, despite the U.S. fund not being subject to NI 81-102 or a reporting issuer in Canada.

The Ontario Securities Commission granted the exemption, finding that the investment objectives and strategies of both funds are substantially similar and that the relief would provide the Fund with beneficial diversification and liquidity.

PIMCO Canada Corp. applied for exemptive relief from the inter-fund trading prohibitions in NI 81-102 and NI 31-103.

The relief sought to permit Canadian funds and client accounts to engage in inter-fund trades with other Canadian funds, as well as cross-border inter-fund trades with U.S. funds managed by PIMCO affiliates.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval, compliance with U.S. inter-fund trading rules for U.S. funds, and execution at the last sale price for exchange-traded securities.

The Filer applied for exemptive relief from the Securities Act and National Instruments 31-103 and 81-102 to permit its MBS Index Funds to invest in mortgage-backed securities issued by a related issuer (Bank of Montreal) in the primary market.

The relief was sought because BMO is a major issuer of MBS in Canada, and the funds require access to these securities to replicate the performance of their target index.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval and pricing parity with arm's-length purchasers.

BNS Split Corp.II applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all jurisdictions of Canada where it is currently a reporting issuer.

The Filer 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 principal regulator found that the test under the securities legislation was met and granted the order.