Securities Law & Instruments

Headnote

Certain mutual funds designated as exchange-traded funds for the purposes of OSC Rule 48-501.

Rules Cited

Ontario Securities Commission Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions, s. 1.1.

IN THE MATTER OF

ONTARIO SECURITIES COMMISSION RULE 48-501 -- TRADING DURING DISTRIBUTIONS,

FORMAL BIDS AND SHARE EXCHANGE TRANSACTIONS (Rule)

AND

IN THE MATTER OF

RBC TARGET 2013 CORPORATE BOND ETF

RBC TARGET 2014 CORPORATE BOND ETF

RBC TARGET 2015 CORPORATE BOND ETF

RBC TARGET 2016 CORPORATE BOND ETF

RBC TARGET 2017 CORPORATE BOND ETF

RBC TARGET 2018 CORPORATE BOND ETF

RBC TARGET 2019 CORPORATE BOND ETF

RBC TARGET 2020 CORPORATE BOND ETF

(collectively, the Funds)

DESIGNATION ORDER

Section 1.1

WHEREAS the Funds are or will be listed on the Toronto Stock Exchange;

AND WHEREAS under the Universal Market Integrity Rules (UMIR), the Funds are considered Exempt Exchange-traded Funds that are not subject to prohibitions related to trading during certain securities transactions;

AND WHEREAS the definition of "exchange-traded fund" in the Rule is substantially similar to the definition of Exempt Exchange-traded Fund in UMIR, and the purpose of the Rule and UMIR are substantially similar;

THE DIRECTOR HEREBY DESIGNATES the Funds as exchange-traded funds for the purposes of the Rule.

Dated August 29, 2011

"Susan Greenglass"
Director, Market Regulation