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COVID-19: CSA extends relief for mutual funds

By Alain Thériault | May 25 2020 03:30PM

Photo: Freepik

As a result of the COVID-19 pandemic, the Canadian Securities Administrators (CSA) are extending the temporary relief for some regulatory filings, including mutual fund prospectuses.

The conditions of the relief are substantially the same as the temporary relief announced on March 23, 2020. The CSA then granted a 45-day extension for periodic filings normally required to be made by issuers, investment funds, registrants, certain regulated entities and designated rating organizations on or before June 1, 2020.

Up to 60 days

The current relief is only applicable to issuers and investment funds with filing deadlines that fall after the prior relief ends. It provides a 60-day extension for mutual funds whose filing, delivery and prospectus renewal obligations must normally be made between June 2, 2020 and September 30, 2020.

For non-investment fund issuers, the blanket relief provides a 45-day extension for certain filing, delivery and base shelf prospectus renewal obligations normally due or required to be made during the period from June 2, 2020 to August 31, 2020,” the CSA adds.

Exceptions

Investment funds and non-investment fund issuers that have already used the prior relief cannot use this relief to further extend the deadline, the regulators say.

Non-investment fund issuers that have not used the prior relief issue yet can apply for it if they comply with certain conditions.

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