NIN 97/33 - The Investment Funds Institute of Canada Code of Sales Practices For the Mutual Fund Industry [NIN - Rescinded]

Published Date:	1997-07-25
Effective Date:	1997-07-25

The Commission is publishing for comment under NIN#97/32 proposed National Instrument 81-105 and Companion Policy 81-105CP. The proposed National Instrument and Companion Policy deal with mutual fund sales practices. As noted in NIN#97/32, the proposed National Instrument has its origins in the Code of Sales Practices released by the Investment Funds Institute of Canada ("IFIC") on March 29, 1996. "Recommendations for a Code of Sales Practices for the Mutual Fund Industry" released by The Investment Funds Institute of Canada on March 29, 1996. The IFIC Code was published as an appendix to the Investment Funds Steering Group - Status Report of April 29, 1996 ((1996), 19 OSCB 2170). The Commission supports the restrictions on sales practices recommended by IFIC in its Code of Sales Practices. Until the proposed National Instrument and its Companion Policy have been adopted by the Canadian Securities Administrators, the Commission strongly encourages participants in the distribution of mutual funds to comply with the IFIC Code of Sales Practices.

DATED at Vancouver, British Columbia, on July 25, 1997.

Douglas M. Hyndman
Chair