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Bulletin #0621-P

For further information, please contact:

Aamir Mirza
Senior Legal and Policy Counsel
Policy
For Distribution to Relevant Parties within your Firm

Point of Sale Disclosure for Mutual Funds – Publication of Final Rules Related to Pre-Sale Delivery of Fund Facts

On December 11, 2014 the Canadian Securities Administrators (“CSA”) published final rule amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure (“NI 81-101”) and the Companion Policy to the Instrument. These amendments are intended to implement pre-sale delivery of the Fund Facts document for mutual funds subject to NI 81-101.

Currently, under securities legislation, a Fund Facts document is required to be delivered to investors within two days of buying a mutual fund. Once the final rule amendments become effective, delivery of the most recently filed Fund Facts document, subject to certain exceptions set out under NI 81-101, will be required to be made to a purchaser before a dealer accepts an instruction for the purchase.

In Force Date and Transition

The CSA have indicated that, subject to Ministerial approval, the final NI 81-101 rule amendments will come into force on March 11, 2015. These amendments are subject to a transition period and, as a result, will become effective on May 30, 2016.

To view Implementation of the Final Stage of Point of Sale Disclosure for Mutual Funds: Pre-Sale Delivery of Fund Facts – CSA Notice of Amendments to NI 81-101 and 81-101CP, please go to: www.osc.gov.on.ca.

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