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June 19, 2014

OSC Staff Notice 33-743 - Guidance on sales practices, expense allocation and other relevant areas


Staff of the Compliance and Registrant Regulation branch of the Ontario Securities Commission today published OSC Staff Notice 33-743 - Guidance on sales practices, expense allocation and other relevant areas developed from the results of the targeted review of large investment fund managers. This notice summarizes our findings on the targeted review of large investment fund managers (IFMs) and provides practical guidance to IFMs in five key areas to ensure that IFMs comply not only with the letter of the securities law requirements but also the spirit of the requirements.

We strongly encourage you to use this notice to improve your understanding of regulatory obligations applicable to IFMs and we also suggest that you use this notice as a self-assessment tool to strengthen your compliance with Ontario securities law and to improve your systems of internal control and supervision.

If you have any questions, please contact

Noulla Antoniou, Senior Accountant
Compliance and Registrant Regulation
Tel: (416) 595-8920
Email: nantoniou@osc.gov.on.ca

Jessica Leung, Senior Accountant
Compliance and Registrant Regulation
Tel: (416) 593-8143
Email: jleung@osc.gov.on.ca

Merzana Martinakis, Senior Accountant
Compliance and Registrant Regulation
Tel: (416) 593-2398
Email: mmartinakis@osc.gov.on.ca

Estella Tong, Senior Accountant
Compliance and Registrant Regulation
Tel: (416) 593-8219
Email: etong@osc.gov.on.ca