New Rules for Closed-End Funds and Mutual Funds Under Phase 2 Fund Modernization Amendments

On June 19, 2014, the Canadian Securities Administrators (CSA) released, in final form, amendments that will apply a number of new requirements and restrictions to closed-end funds (Phase 2 amendments).  These include: a prohibition against issuing any warrants (whether as part of an initial public offering, or subsequently to existing unitholders), a prohibition against investments... Continue Reading