The Ontario Securities Commission (OSC) recently published its Summary Report for Investment Fund and Structured Product Issuers (The Summary Report), which provides an overview of key activities undertaken by the Investment Management division in fiscal 2023-2024.
The Summary Report is intended as a resource for investment fund managers and entities performing services on their behalf, and other stakeholders, including investors. Highlights from the Investment Management division, formerly the Investment Funds and Structured Products Branch, include:
- Operational Highlights – the volume of prospectus reviews and exemptive relief applications remained stable while continuous disclosure reviews continued to increase. These reviews primarily focused on fair disclosure practices to ensure investors are given accurate information and covered areas such as environmental, social and governance funds and reviews of marketing materials and yield disclosure.
- Regulatory Policy Initiatives – the Investment Management division continued to work on rule proposals and amendments that align with our commitment to reducing regulatory burden and streamlining regulation while maintaining investor protection.
- Emerging Issues and Initiatives – key initiatives impacting the investment funds industry include the launch of SEDAR+ and the cessation of the Canadian Dollar Offered Rate. The Investment Fund Survey continues to be a critical data-gathering tool and has undergone some changes to streamline it with other regulatory filings and expand the scope of data collected.
The Summary Report for Investment Fund and Structured Product Issuers is available for download from the website of the Ontario Securities Commission.
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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