From the Regulators

A review led by OSC and AMF staff is being conducted this year with a target for mid-2018 for proposed rule amendments and comments

By James Langton |

 

Canada's regulators are targeting mid-2018 to produce proposals designed to reduce the regulatory burden for investment funds.

The Ontario Securities Commission (OSC) indicates in the latest edition of its newsletter for the investment funds industry that the initiative, which is being called the Rationalization of Investment Fund Disclosure (Project RID), "will review the existing disclosure requirements to identify potentially redundant or obsolete disclosures that should be reconsidered by the [Canadian Securities Administrators (CSA)]."

The review, which is being led by staff of the OSC and the Autorité des marchés financiers, will be conducted during 2017, "and staff is targeting mid-2018 for publication of any proposed rule amendments for comment."

Recently, the CSA launched an initiative to reduce the burden for public company issuers (which is out for comment until July 28). This will be followed by the investment fund project and a similar effort for registrant requirements will represent the third phase of the effort.

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