The Canadian Securities Administrators has published a list of frequently asked questions that aims to demystify the amendments to mutual fund rules concerning funds of funds.

The rules came into effect in every jurisdiction except Quebec at the end of 2003. The CSA says that over the last several months its staff has been responding to a number of questions surrounding the transition to the new fund of funds regime. It is publishing this notice in order to address the frequently asked questions.

The notice addresses issues such as required disclosure, the application of the new rules to an existing fund of funds, among other issues.

The CSA has also issued a notice revising an earlier FAQ concerning continuous disclosure obligations.

The original notice was first published March 26, as new rules concerning continuous disclosure obligations took effect on March 30. The CSA says that its question list is not exhaustive, but does represent the types of inquiries they have received on the new rules.

The continuous disclosure FAQ addresses issues around: definitions, financial statements, MD&A, annual information forms, business acquisition reports, information circulars and proxy solicitations, filing material documents, and transition.