Securities Law & Instruments

Headnote

 

Clause 213(3)(b) of the Loan and Trust Corporations Act – application by manager, with no prior track record acting as trustee, for approval to act as trustee of pooled funds and future pooled funds to be established and managed by the applicant and offered pursuant to a prospectus exemption.

 

Statutes Cited

 

Loan and Trust Corporations Act, R.S.O. 1990, c. L.25, as am., s. 213(3)(b).

 

April 21, 2017

 

AUM Law Professional Corporation

175 Bloor Street East

Suite 303, South Tower

Toronto, ON M4W 3R8

 

Attention: Sandy Psarras

 

Dear Sirs/Mesdames:

 

Re:         Raintree Wealth Management Inc. (the “Applicant”)

 

Application pursuant to clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario) for approval to act as trustee

 

Application No. 2017/0169

 

Further to your application dated March 17, 2017 (the “Application”) filed on behalf of the Applicant, and based on the facts set out in the Application and the representation by the Applicant that assets of investment funds to be organised as trusts that the Applicant may establish and manage from time to time (the “Funds”) will be held in the custody of a trust company incorporated and licensed or registered under the laws of Canada or a jurisdiction, or a bank listed in Schedule I, II, or III of the Bank Act (Canada), or a qualified affiliate of such bank or trust company, the Ontario Securities Commission (the “Commission”) makes the following order:

 

Pursuant to the authority conferred on the Commission in clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that the Applicant act as trustee of the Original Funds and any other future mutual fund trusts which may be established and managed by the Applicant from time to time, the securities of which will be offered pursuant to prospectus exemptions.

 

Yours truly,

 

“Frances Kordyback”

Commissioner

 

“Janet Leiper”

Commissioner