TD Waterhouse Canada Inc. has been granted regulatory relief to use Fund Facts disclosure to satisfy its mutual fund prospectus delivery obligations.

Thursday’s OSC Bulletin includes a decision by the Ontario Securities Commission (OSC) granting exemptive relief to TD Waterhouse and InvestorPOS Inc. to allow the dealer to use InvestorPOS’ FFxpress service to deliver the new Fund Facts disclosure documents instead of the simplified prospectus.

Dealers will be required to use the Fund Facts instead of the prospectus as of June 13, 2014; but the Canadian Securities Administrators (CSA) have encouraged dealers to file applications to allow the early use of Fund Facts to satisfy prospectus requirements.

In its decision, the OSC notes that any dealer relying on the ability to send Fund Facts in lieu of the prospectus grants investors the same rights of withdrawal and rights of rescission as they would with a prospectus.