September 02, 2015
The Canadian Securities Administrators has launched several proposals and amendments to overhaul the fee structure on mutual funds in Canada. In a piece looking at these developments—which includes lifting the extra disclosure requirements for foreign issuers, known as a “wrapper”—Advisor.ca sought comment from corporate associate Adam Freedman, whose practice includes investment funds and managed assets. Below is an excerpt of the article.
“In certain circumstances, an underwriter or foreign issuer would decide not to extend that offering into Canada, because there are expenses in preparing the wrapper and related documents,” explains Adam Freedman at Torys in Toronto. “I think the regulators saw that sophisticated investors in Canada would not be able to get a hold of potentially excellent investment opportunities.”
To read the full article, click here.