Securities Law & Instruments

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NOTICE OF MINISTERIAL APPROVAL
OF CONSEQUENTIAL AMENDMENTS TO
REGISTRATION, PROSPECTUS AND
CONTINUOUS DISCLOSURE RULES RELATED TO
NATIONAL INSTRUMENT 25-101
DESIGNATED RATING ORGANIZATIONS



Ministerial approval of certain rules

On May 13, 2013, the Minister of Finance approved, pursuant to section 143.3 of the Securities Act (Ontario) (the Act) consequential amendments to the following instruments:

  • National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations
  • Form 31-103F1 Calculation of Excess Working Capital
  • Form 33-109F6 Firm Registration
  • National Instrument 41-101 General Prospectus Requirements
  • National Instrument 44-101 Short Form Prospectus Distributions
  • Form 44-101F1 Short Form Prospectus
  • National Instrument 44-102 Shelf Distributions
  • National Instrument 45-106 Prospectus and Registration Exemptions
  • National Instrument 51-102 Continuous Disclosure Obligations
  • National Instrument 81-101 Mutual Fund Prospectus Disclosure
  • National Instrument 81-102 Mutual Funds
  • National Instrument 81-106 Investment Fund Continuous Disclosure
    (collectively, the Amendment Instruments).

Notice of redundancy

In the course of the subsequent review of Schedule L-1 – Amendments to National Instrument 81-102 Mutual Funds, OSC staff have noticed that paragraph 2(g) should not have been included in the Schedule. This amendment is no longer necessary as a result of the revised definition of “money market fund” which came into force on October 30, 2012. There is no need, however, to take any corrective action in respect of this redundancy because, as a result of the prior amendment, paragraph 2(g) has no legal effect. This notice is simply for the information of stakeholders and in the interests of transparency.

Commission approval of related policies

In connection with this initiative, the Ontario Securities Commission adopted on March 12, 2013, pursuant to section 143.8 of the Act, changes to the following policies:

  • Companion Policy 21-101CP Marketplace Operation
  • Companion Policy 44-101CP Short Form Prospectus Distributions
  • Companion Policy 44-102CP Shelf Distributions
  • National Policy 51-201 Disclosure Standards
  • Companion Policy 81-102CP Mutual Funds
    (collectively with the Amendment Instruments, the DRO Consequential Amendments).

The DRO Consequential Amendments were published in the Bulletin on March 14, 2013 at (2013) 36 OSCB 2619 and have an effective date of May 31, 2013.