Weekly Reports

• BC Notice 2002/38 - Request for Comment - Proposed National Instrument 81-106 Investment Fund Continuous Disclosure

  • National Instrument 81-106 - Investment Fund Continuous Disclosure
  • Form 81-106F1 - Contents of Annual and Quarterly Management Report of Fund Performance
  • Companion Policy 81-106CP - Investment Fund Continuous Disclosure
  • National Instrument 81-101 - Amendment to National Instrument 81-101 Mutual Fund Prospectus Disclosure, Form 81-101F1 Contents of Simplified Prospectus and Form 81-101F2 Contents of Annual Information Form
  • Companion Policy 81-101CP - Amendment to Companion Policy 81-101CP Mutual Fund Prospectus Disclosure
  • National Instrument 81-102 - Amendment to National Instrument 81-102 Mutual Funds
  • Companion Policy 81-102CP - Amendment to Companion Policy 81-102CP Mutual Funds
  • National Instrument 13-101 - Amendment to National Instrument 13-101 System for Electronic Document Analysis and Retrieval (SEDAR)
  • Consequential Amendments to the BC Securities Rules

  This notice requests comments on proposed new continuous disclosure rules for investment funds. Th e proposed national instrument consolidates disclosure requirements currently found in NI 81-102 mutual funds, harmonizes financial statement requirements, and proposes a new requirement for fund managers to prepare management reports of fund performance. We are also seeking comment on related consequential amendments.

• BC Notice 2002/39 - Proposed Amendments to Multilateral Instrument 45-103 Capital Raising Exemptions and Proposed Adoption in Additional Jurisdictions
  • Multilateral Instrument 45-103 - Capital Raising Exemptions
  • Form 45-103F1 - Offering Memorandum for Non-Qualifying Issuers
  • Form 45-103F2 - Offering Memorandum for Qualifying Issuers
  • Form 45-103F3 - Risk Acknowledgement
  • Form 45-103F4 - Report of Exempt Distribution
  • Form 45-103F5 - Risk Acknowledgement
  • Companion Policy 45-103CP - Capital Raising Exemptions

  This notice announces the publication for comment of amendments to Multilateral Instrument 45-103 Capital Raising Exemptions (Proposed MI 45-103); 45-103CP Companion Policy; Form 45-103F1 Offering Memorandum for Non-Qualifying Issuers; Form 45-103F2 Offering Memorandum for Qualifying Issuers and Form 45-103F3 Risk Acknowledgement. This BCN also announces the publication for comment of new Form 45-103F4 Report of Exempt Distribution and Form 45-103F5 Risk Acknowledgement - Saskatchewan Close Personal Friends and Close Business Associates.

MI 45-103 (Current MI 45-103) was originally adopted in British Columbia and Alberta in Spring 2002. Amendments have been made to allow the adoption by the securities regulatory authorities in Saskatchewan, Manitoba, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Northwest Territories and Nunavut.

Current MI 45-103 continues to be in force in British Columbia and Alberta. If Proposed MI 45-103 is adopted, it will replace the Current MI 45-103. The most significant proposed amendments to Current MI 45-103 are:

• the participation of the additional jurisdictions;
• the terms of the proposed offering memorandum exemption to be adopted in each of the additional jurisdictions;
• the proposed restrictions on commissions payable under the private issuer and family, friends and business associates exemption;
• the introduction of a new report of exempt distribution (Form 45-103F4) that will replace BC Form 45-902F when reporting distributions under exemptions in Proposed MI 45-103;
• the addition of the Saskatchewan Risk Acknowledgement (Form 45-103F5) for use in Saskatchewan for distributions based on close personal friendship and close business association.

A summary of each of the proposed amendments to the Current MI 45-103 and the reasons for them are set out in Appendix B to the BCN.

Comment letters received on or before November 19, 2002 will be considered.

• CSA Staff Notice 31-305 - Canadian Securities Administrators Staff Notice 31-305Registration Streamlining System

  On October 1, 2002 the Registration Streamlining System will change administrative practices by allowing salespersons of IDA- or MFDA-member firms registered in any province or territory other than Quebec to apply for additional registrations in another province or territory using copies of a completed registration form from another jurisdiction.