CSA/ACVM |
Canadian
Securities Administrators |
Autorités
canadiennes en valeurs mobilières |
For Immediate Release
September 27, 2002
THE CSA PUBLISHES NEW RULES ON
INVESTMENT FUND CONTINUOUS DISCLOSURE
Toronto, Canada The Canadian Securities Administrators (the "CSA"), the umbrella organization representing Canadas provincial and territorial securities regulators, has published for comment a draft Rule on investment fund continuous disclosure.
The proposed regime is aimed at providing investors and their advisers with timely and useful information to better assess an investment funds performance, position and future prospects, by presenting financial and non-financial information for all types of investment funds in the same format. The new regime also harmonizes the reporting requirements for investment funds across jurisdictions.
The draft Rule applies to all types of investment funds, including but not limited to, mutual funds, exchange traded funds, split share corporations, labour sponsored investment funds, closed end funds and scholarship plans. Some key measures detailed in the draft Rule include:
Proposed National Instrument 81-106, Form 81-106F1 on the contents of annual and quarterly management reports of fund performance and Companion Policy 81-106, were published on September 20 for public comment.
The proposed rules may be viewed at the commission websites listed below. The public comment period ends December 19, 2002.
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Media Relations Contacts:
Joni Delaurier Communications Co-ordinator Alberta Securities Commission (403) 297-4481 www.albertasecurities.com |
Andrew Poon B.C. Securities Commission 604-899-6880 1-800-373-6393 (B.C. & Alberta only) www.bcsc.bc.ca |
Ainsley Cunningham Manitoba Securities Commission 204-945-4733 1-800-655-5244 (Manitoba only) www.msc.gov.mb.ca |
Eric Pelletier Manager, Media Relations Ontario Securities Commission (416) 595-8913 www.osc.gov.on.ca |
Barbara Timmins Commission des valeurs mobilières du Québec 514-940-2176 1-800-361-5072 (Quebec only) www.cvmq.com |