Certain mutual funds designated as exchange-traded funds for the purposes of OSC Rule 48-501.
Ontario Securities Commission Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions, s. 1.1.
IN THE MATTER OF ONTARIO SECURITIES COMMISSION RULE 48-501 -- TRADING DURING DISTRIBUTIONS, FORMAL BIDS AND SHARE EXCHANGE TRANSACTIONS (Rule) AND IN THE MATTER OF BMO LOW VOLATILITY INTERNATIONAL EQUITY ETF, BMO EUROPE HIGH DIVIDEND COVERED CALL HEDGED TO CAD ETF, BMO US PUT WRITE ETF, BMO INTERNATIONAL DIVIDEND HEDGED TO CAD ETF (and collectively, the Funds)
DESIGNATION ORDER (Section 1.1)
WHEREAS each of the Funds is or will be listed on the Toronto Stock Exchange;
AND WHEREAS under the Universal Market Integrity Rules (UMIR), each Fund is an Exempt Exchange-traded Fund that is not subject to prohibitions related to trading during certain securities transactions;
AND WHEREAS the definition of "exchange-traded fund" in the Rule is substantially similar to the definition of Exempt Exchange-traded Fund in UMIR;
AND WHEREAS the purpose of the Rule and UMIR are substantially similar;
AND WHEREAS each Fund would be subject to prohibitions relating to trading during certain securities transactions under the Rule if it is not designated by the Director;
THE DIRECTOR HEREBY DESIGNATES each of the Funds as an exchange-traded fund for the purposes of the Rule.
DATED August 5, 2015