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Bulletin #0851-P

For further information, please contact:

Brett Konyu
Director, Member Education and Membership Services
For Distribution to Relevant Parties within your Firm

CSA Issues Blanket Relief – Additional Proficiency Options for Distribution of Alternative Funds

The Canadian Securities Administrators (CSA) have issued blanket relief for mutual fund restricted individuals and supervisors, providing additional proficiency options for distributing alternative mutual funds.

The blanket relief makes available additional course options, with updated and relevant information on alternative mutual funds, that may be completed instead of the courses required under National Instrument 81-104 Alternative Mutual Funds.

Prior to relying on the relief, the dealer or distributor must provide a one-time notification to their principal securities regulator that the mutual fund restricted individual or supervisor intends to rely on the relief.

The bridge courses mentioned in the blanket relief will become available shortly from the Canadian Securities Institute and IFSE Institute.

The CSA is implementing this relief through local blanket orders that are substantially harmonized across the country. Market participants can view these orders on CSA members’ websites and are encouraged to contact their principal regulator with any questions. 

To view the Local Blanket Orders, please see the links below:

British Columbia Securities Commission

Alberta Securities Commission

Financial and Consumer Affairs Authority of Saskatchewan

Manitoba Securities Commission

Ontario Securities Commission

Autorité des marchés financiers

Financial and Consumer Services Commission (New Brunswick)

Nova Scotia Securities Commission

Office of the Superintendent of Securities (Prince Edward Island)

Office of the Superintendent of Securities, Northwest Territories

Office of the Yukon Superintendent of Securities