Industry


Specialized Funds


Other investment funds that are subject to the OSC’s regulatory requirements include:

  • Scholarship Plans
  • Labour Sponsored Investment Funds
  • Commodity Pools

Scholarship Plans

Scholarship Plans are investment funds designed to facilitate savings for future education. For more information, see National Policy Statement 15 Conditions Precedent to Acceptance of Scholarship or Educational Plan Prospectuses. These funds are also subject to:

NI 81-106 outlines requirements regarding the on-going calculation of a fund’s net asset value. NI 81-107 requires investment funds to appoint an independent review committee that is responsible for reviewing the fund manager’s conflicts of interest. NI 41-101 contains requirements regarding the custody of assets.

Labour Sponsored Investment Funds

Labour Sponsored Investment Funds are investment funds registered under the Community Small Business Investment Funds Act designed to promote investment in smaller companies. These funds are subject to unique provisions in Part XIV of Regulation 1015 made under the Securities Act (Ontario).

These funds are also subject to:

NI 81-102 details requirements regarding conflicts of interest, securityholder voting rights and meetings, custody of assets, and sales communications. NI 81-106 outlines requirements regarding the on-going calculation of a fund’s net asset value. NI 81-107 requires investment funds to appoint an independent review committee that is responsible for reviewing the fund manager’s conflicts of interest. NI 41-101 contains requirements regarding the custody of assets.

Commodity Pools

Commodity Pools are investment funds that are permitted to invest in specified derivatives or physical commodities in a manner not typically permitted under National Instrument 81-102 Mutual Funds. Commodity Pools are subject to National Instrument 81-104 Commodity Pools. They are also subject to:

NI 81-102 details important investment restrictions and other requirements regarding the creation of new funds, conflicts of interest, securityholder voting rights and meetings, custody of assets, incentive fees, subscriptions and redemptions, and sales communications. NI 81-106 outlines requirements regarding the on-going calculation of a fund’s net asset value. NI 81-107 requires investment funds to appoint an independent review committee that is responsible for reviewing the fund manager’s conflicts of interest. NI 41-101 contains requirements regarding the custody of assets.