Ontario Securities Commission

The Applicant applied for a decision under the securities legislation of multiple jurisdictions that it is not a reporting issuer.

The Decision Maker found that the Applicant met the statutory test, as its outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and its securities are not traded on any marketplace.

The application was granted, and the Applicant was ordered to no longer be a reporting issuer.

The Manager, Redwood Asset Management Inc., applied to the Ontario Securities Commission for approval of a change of control pursuant to subsection 5.5(1)(a.1) of National Instrument 81-102.

The proposed transaction involves the purchase of shares by Extra Medium Inc., resulting in Peter Shippen increasing his indirect ownership from 23.72% to 55.81%.

The Commission was satisfied that the transaction would not result in material changes to the business or operations of the Funds or the Manager.

The application for exemptive relief was granted.

The Filers applied for exemptive relief from the prohibition on making listing representations under the securities legislation of multiple Canadian jurisdictions.

The relief was sought to allow the Filers to refer to their intention to apply to list shares of a newly formed entity on the London Stock Exchange in connection with a proposed demerger.

The principal regulator granted the exemptive relief and also granted a confidentiality request regarding the application and decision.

The applicant applied to the Ontario Securities Commission for exemptive relief from the investment fund conflict of interest and reporting provisions of the Securities Act.

The relief was sought to permit a fund-on-fund structure where the top funds would invest in a related underlying partnership, becoming substantial securityholders.

The Commission granted the requested relief, subject to conditions ensuring no duplication of fees and adequate disclosure to investors.

The Filers applied for exemptive relief from paragraphs 15.3(4)(c) and 15.3(4)(f) of Regulation 81-102 to permit the referencing of Lipper Awards and Lipper Leader ratings in sales communications for their mutual funds.

The principal regulator granted the exemption, subject to specific disclosure conditions, finding that the Lipper ratings provide an objective and transparent measure of performance that is useful to investors.

The applicant sought approval under paragraph 5.5(1)(b) of National Instrument 81-102 to merge several terminating mutual funds into continuing funds.

The mergers did not qualify for pre-approval under section 5.6 because they would not be implemented as tax-deferred qualifying exchanges under the Income Tax Act.

The principal regulator granted the requested exemptive relief, subject to the applicant obtaining prior securityholder approval for the mergers.

The Filer applied on behalf of several mutual funds for an exemption from the requirement in section 5.1(c) of National Instrument 81-102 to obtain securityholder approval before changing their fundamental investment objectives.

The changes were proposed in response to federal budget proposals that eliminated the tax efficiency of the funds' forward agreements.

The Ontario Securities Commission granted the exemption, provided the funds send written notice to securityholders at least 60 days prior to the effective date of the change.

The filer applied for exemptive relief from the requirements of sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 to permit the use of Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds.

The exemption was required because Lipper ratings are not calculated for a one-year period, making it impossible to comply with the matching requirement, and the timing of the awards publication conflicts with the timing restrictions in the instrument.

The principal regulator granted the exemption subject to specific disclosure conditions.

The Applicant, Augusta Resource Corporation, applied for a decision under the securities legislation of multiple Canadian jurisdictions that it is not a reporting issuer.

The Decision Makers were satisfied that the Applicant met the statutory test, as its outstanding securities are beneficially owned by fewer than 51 securityholders worldwide and are not traded on any marketplace.

The application was granted, and the Applicant was ordered to no longer be a reporting issuer.

The filers applied for exemptive relief from the insider reporting requirements under subsection 107(2) of the Securities Act and section 3.3 of National Instrument 55-104.

The relief was sought in connection with the disposition of common shares by the insider pursuant to an automatic securities disposition plan, which was established to allow the insider to maintain its proportionate ownership during the company's normal course issuer bid.

The Ontario Securities Commission granted the exemption, subject to the condition that the insider file an annual summary report of all dispositions under the plan.

The applicant sought exemptive relief from the requirements of sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 to permit the reference of Lipper Awards and Lipper Leader ratings in sales communications relating to its mutual funds.

The Ontario Securities Commission granted the exemption, subject to specific disclosure conditions, noting that the ratings provide an objective and transparent measure of performance.

The Applicant applied to the Ontario Securities Commission 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 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.

BMO Investments Inc. applied for exemptive relief from the performance rating matching and publication timeframe requirements in sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102.

The relief was sought to permit the funds to reference Lipper Awards and Lipper Leader ratings in their sales communications, which otherwise could not comply with the strict matching and timing rules.

The Ontario Securities Commission granted the exemption, subject to specific disclosure conditions regarding the ratings and awards.

Franklin Templeton Investments Corp. applied for exemptive relief from the requirements of sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 Investment Funds.

The applicant sought permission to reference Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds, despite the ratings not being available for the one-year period and the timing of the awards publication conflicting with the rule's requirements.

The Ontario Securities Commission granted the exemption, subject to specific disclosure conditions and requirements regarding the presentation of the ratings.

CIBC Asset Management Inc. applied for exemptive relief from sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 to permit the inclusion of Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds.

The exemption was required because Lipper ratings are not calculated for a one-year period, making it impossible to comply with the matching requirement, and the timing of the awards conflicted with the publication restrictions.

The Ontario Securities Commission granted the requested relief, subject to specific disclosure conditions ensuring investors receive adequate context about the ratings and awards.

Blackrock Asset Management Canada Limited applied for exemptive relief from the performance rating requirements in sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102.

The relief was sought to permit the use of Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds.

The Ontario Securities Commission granted the exemption, subject to specific disclosure conditions and time limits on the use of the awards.

BMO Asset Management Inc. applied for exemptive relief from the performance rating matching and publication timeframe requirements in sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102.

The relief was sought to permit the use of Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds.

The Ontario Securities Commission granted the exemption, subject to specific disclosure conditions, noting that the Lipper ratings provide an objective and transparent measure of performance.

Fidelity Investments Canada ULC applied for exemptive relief from the requirements of sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102.

The relief was sought to permit the Funds to reference Lipper Awards and Lipper Leader ratings in their sales communications, despite the ratings not being available for the one-year period and the awards being published outside the prescribed time limits.

The Ontario Securities Commission granted the exemption, subject to specific disclosure conditions ensuring the ratings are presented transparently and objectively.

The filer applied for exemptive relief from the requirements of sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 to permit the reference to Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds.

The exemption was required because Lipper ratings are not calculated for a one-year period, making it impossible to comply with the matching requirement, and the timing of the awards publication conflicts with the timing restrictions in the instrument.

The Ontario Securities Commission granted the requested relief, subject to specific disclosure conditions.

Manulife Asset Management Limited applied for exemptive relief from the requirements of sections 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102.

The relief was sought to permit the use of Lipper Awards and Lipper Leader ratings in sales communications for its mutual funds.

The principal regulator granted the exemption, subject to specific disclosure conditions, finding that the objective and quantitative nature of the ratings alleviated concerns about misleading communications.