OSC 2022

The Filer applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the long form prospectus for two of its exchange-traded funds.

The extension was requested to allow the Filer to combine the renewal prospectus of the existing funds with a new fund currently being developed, thereby streamlining disclosure.

The Commission granted the requested relief, extending the lapse date to September 8, 2022.

The filer applied for exemptive relief to extend the lapse dates of the prospectuses for the Mackenzie Series Funds and the Laurentian Series Funds.

The extension was requested to align the renewal dates of these funds with other funds managed by the filer, thereby reducing renewal, printing, and related costs.

The principal regulator granted the requested exemption, finding that it would not affect the accuracy of the information contained in the prospectuses and would not be prejudicial to the public interest.

The applicant, TD Asset Management Inc., applied for exemptive relief from subsection 5.1(4) of National Instrument 81-101 to permit the consolidation of simplified prospectuses for its alternative mutual funds with those of its conventional mutual funds.

The principal regulator granted the requested relief, noting that a similar consolidation is permitted for exchange-traded funds under National Instrument 41-101.

The Filer applied for exemptive relief on behalf of several funds to be exempt from filing a long form prospectus for ETF Securities, provided they file a simplified prospectus and an ETF facts document.

The Filer also sought relief to treat ETF Securities and Mutual Fund Securities as separate funds for compliance with the sales and redemptions requirements of NI 81-102.

The Ontario Securities Commission granted the requested relief, subject to conditions including compliance with specific disclosure and filing requirements.

Fidelity Investments Canada ULC and Sterling Mutuals Inc. applied to the Ontario Securities Commission for exemptive relief from the Fund Facts Delivery Requirement under National Instrument 81-101.

The relief was sought for purchases of initial sales charge (ISC) series of securities made in connection with a Change of Systematic Instructions, following the implementation of the deferred sales charge (DSC) ban.

The Commission granted the requested relief, subject to conditions including that no ISC is charged and investors are notified they will not receive the Fund Facts but may request it.

The Filer applied for exemptive relief on behalf of its investment funds to permit them to invest up to 10% of their net asset value in securities of SICAV Funds, which are Luxembourg-based UCITS funds.

The principal regulator granted the relief, revoking and replacing previous decisions, on the condition that the investments are consistent with the funds' objectives, the SICAV Funds remain subject to substantially similar regulatory restrictions, and the total investment in SICAV Funds does not exceed 10% of the investing fund's net asset value.

CIBC Asset Management Inc. applied for exemptive relief on behalf of CIBC Alternative Credit Strategy and future alternative mutual funds to permit the funds to short sell government securities up to a maximum of 300% of their net asset value.

The Ontario Securities Commission granted the requested relief, exempting the funds from the short selling restrictions in subparagraph 2.6.1(1)(c)(v) and section 2.6.2 of National Instrument 81-102, subject to certain conditions including that the aggregate exposure to short selling, cash borrowing, and specified derivatives does not exceed 300% of the fund's net asset value.

The Filer applied for exemptive relief from subsection 5.1(4) of National Instrument 81-101, which prohibits consolidating a simplified prospectus for an alternative mutual fund with one for a conventional mutual fund.

The Filer sought to combine the prospectuses for its alternative and conventional mutual funds to reduce costs and streamline disclosure, noting that exchange-traded funds are permitted to do so under National Instrument 41-101.

The Ontario Securities Commission granted the requested exemptive relief.

The Ontario Securities Commission and other provincial securities regulators revoked exemptive relief previously granted to Kinross Gold Corporation in 2009.

The original relief exempted certain insiders from insider reporting requirements for sales under an automatic securities disposition plan (ASDP).

Following the publication of CSA Staff Notice 55-317, which provided new guidance on ASDPs to promote transparency, the regulators determined that the prior relief was inconsistent with the new principles and revoked it in the public interest.

The Filer, Noront Resources Ltd., applied to the Ontario Securities Commission for an order that it has ceased to be a reporting issuer in all jurisdictions of Canada in which it is a reporting issuer.

The principal regulator was satisfied that the Filer met the test set out in the legislation, noting that its outstanding securities are beneficially owned by fewer than 15 securityholders in each jurisdiction of Canada and fewer than 51 worldwide, and are not traded on any marketplace.

The order was granted.

The applicant, an investment fund manager, applied to the Ontario Securities Commission for an order exempting certain mutual funds from the annual filing and delivery deadlines for audited financial statements under National Instrument 81-106.

The applicant argued that the funds invest in underlying funds with varying financial year-ends and reporting deadlines, making it impossible to complete the audits within the standard 90-day period.

The Commission granted the requested relief, extending the filing and delivery deadline to 180 days after the funds' financial year-end, subject to certain conditions.

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

The relief was sought to permit the Filer's mutual funds to reference FundGrade A+ Awards, FundGrade Ratings, Lipper Awards, and Lipper Leader Ratings in their sales communications.

The principal regulator granted the exemption, subject to specific disclosure conditions, finding that the ratings provide objective and transparent performance measures that are helpful to investors.

The applicant sought exemptive relief on behalf of its investment funds to permit them to invest up to 10 percent of their net asset value in certain foreign investment funds (UCITS) formed in Luxembourg and Ireland.

The principal regulator granted the exemption, revoking a previous decision, on the condition that the underlying funds qualify as UCITS and are distributed in accordance with UCITS Regulations, which subject them to substantially similar investment restrictions as the applicant's funds.

The Filer, Hochschild Mining Brazil Holdings Corp., 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, and granted the order.

The Filer, Sustainable Real Estate Dividend Fund, applied to the Ontario Securities Commission for an exemption from the prospectus requirement in connection with the distribution of units repurchased or redeemed by the Filer.

The Commission granted the exemption, subject to conditions including that the units are sold through the facilities of the TSX, the Filer complies with resale restrictions under National Instrument 45-102, and the Filer limits the aggregate number of units resold in a calendar year to 5% of outstanding units.

The Filer, Admiral Markets Canada Limited, applied to the Ontario Securities Commission for an exemption from the prospectus requirement in respect of 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 terms and conditions, including that the Filer remains registered as an investment dealer and a member of IIROC, and that all CFD transactions are conducted pursuant to IIROC Rules.

The Filer applied to the Ontario Securities Commission for exemptive relief from the dealer registration and prospectus requirements in respect of trades in exchange-traded funds to capital accumulation plans (CAPs) and non-tax assisted CAPs.

The Commission granted the requested relief, revoking and replacing a previous decision to include exchange-traded funds as an investment choice, subject to various conditions regarding disclosure, fees, performance reporting, and contribution limits.

Engagement Labs Inc. 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 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, with no securities traded on a marketplace.

The order was granted.

The applicant, a foreign issuer, 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 allows qualifying Canadian employees to invest in units of a French collective shareholding vehicle (FCPE) that holds shares of the applicant.

The Commission granted the requested relief, subject to conditions including that the first trade of the acquired securities must be made through an exchange or market outside of Canada or to a person outside of Canada.

The Filer, California Gold Mining Inc., applied for an order to cease being a reporting issuer in all applicable Canadian jurisdictions following its acquisition by Stratabound Minerals Corp. via a plan of arrangement.

The Filer became an indirect wholly owned subsidiary of Stratabound and its shares were delisted.

The Filer was subject to a failure-to-file cease trade order but concurrently applied for its revocation.

The Ontario Securities Commission granted the requested relief, ordering that the Filer has ceased to be a reporting issuer.