The Investment Funds Branch of the Ontario Securities Commission has published the second issue of its newsletter for the fund industry, the Investment Funds Practitioner.

The Practitioner is an overview of recent issues that have arisen in connection with applications for discretionary relief, prospectuses and continuous disclosure documents filed by investment funds with the OSC. It’s written primarily for investment fund managers and their staff, or advisors who regularly prepare public disclosure documents and applications for exemptive relief on behalf of investment funds.

Topics covered in the current issue include: the reissue of discretionary exemptions previously granted from the conflicts provisions, following the adoption of the requirement for Independent Review Committees; relief to permit purchases of asset-backed commercial paper; approval to act as trustee; and trades in pooled fund units to managed accounts. It also discusses several prospectus disclosure issues that the OSC has dealt with in the past several months.

The first issue was published in April on a trial basis, and the OSC indicates that it will continue to publish it. “Your comments indicated that you find the Practitioner useful and that you are interested in seeing more editions,” the OSC noted.