Investors Group Inc. has received a decision from regulators expanding its relief from the prohibitions on holding related-party securities.

The latest decision revokes and replaces of a decision document dated July 9, 2003. That earlier decision allowed three IG Funds to hold securities of Canada Life Financial Corp. and Canada Life Assurance Company following the completion of Great-West Lifeco Inc.’s acquisition of all the common shares of CLFC.

The new decision document grants the same relief, but expands it to include new related parties — Power Financial Corp. and Power Corp. of Canada — and additional funds. Investors Group Inc. is a subsidiary of Power Financial.

Mutual funds are allowed to make and hold investments in securities of related parties subject to the establishment of a fund governance mechanism to ensure the holdings, purchases and sales of securities of related companies for the funds have been made free from any influence by a related company.