(January 31 – 08:30 ET) – The Ontario Securities Commission has approved an old rule regarding mutual fund prospectus requirements, and sent it to the Minister of Finance for final ascent.

The rule was last published for comment way back on June 27, 1997. No comments were received back then, but the OSC has made a number of changes to the rule since then to reflect changes to other rules and the introduction of new rules since that last comment period.

The purpose of the rule is to set out a number of form, content and filing requirements for mutual fund prospectuses. It is to be read together with several other OSC rules governing prospectus disclosure requirements which were published in final form on October 13, 2000 and came into force on December 31.

If the Minister does not approve the rule, reject it or return it to the commission for further consideration by March 19, or if he approves it, it will come into force on April 5.