CANADA: OSC Amend National Instrument 81-102 on Investment Funds

Tuesday June 12 2018

The Ontario Securities Commission (OSC) amend National Instrument 81-102 on Investment Funds.

Please see below changes:

Designated rating organization means, if designated under securities legislation, any of

(a) DBRS Limited, Fitch Ratings, Inc., Moody’s Canada Inc. or S&P Global Ratings Canada, or

(b) a successor credit rating organization of a credit rating organization listed in paragraph (a);.

Successor credit rating organization means, with respect to a credit rating organization, any credit rating organization that succeeded to or otherwise acquired all or substantially all of another credit rating organization’s business in Canada, whether through a restructuring transaction or otherwise, if that business was, at any time, owned by the first-mentioned credit rating organization.

OSC also changed the Companion Policy 81-102CP on Investment Funds by repealing section 3.1.

This Instrument comes into force on June 12, 2018.

Please click on the above link for more information.