Regulatory Relief: Renewed temporary blanket relief for investment funds

The Canadian Securities Administrators (the CSA) recently published a blanket order providing registrants and investment funds with renewed temporary blanket relief from certain regulatory filings and delivery obligations imposed by securities laws (the Relief). 

The Relief provides a 60-day extension for certain filing, delivery and prospectus renewal obligations normally required to be made between the period of June 2, 2020, and September 30, 2020. The Relief essentially extends the previously issued temporary blanket order that applied to obligations falling during the period between March 23, 2020, and June 1, 2020 (the Previous Relief). Investment funds that have already relied on the Previous Relief may not rely on the Relief to further extend a deadline. 

The conditions of the Relief are substantially similar to the Previous Relief. To rely on the Relief, investment funds must as soon as reasonably practicable: (i) notify the director of the investment funds and structured products branch by email; and (ii) post a statement on its public website, or the public website of its investment fund manager, stating that the investment fund is relying on the order and each applicable requirement for which it is relying on the order.

Should you have any questions on the implementation of any of the above or questions about ongoing filing obligations, do not hesitate to contact our team.