Ontario’s Minister of Finance has approved amendments to the following National Instruments which came into force on November 14, 2017:

  • National Instrument 81-102 Investment Funds
  • National Instrument 81-104 Commodity Pools

As previously discussed, the amendments shorten the standard settlement cycle for conventional mutual funds from three days after the date of a trade (T+3) to two days after the date of a trade (T+2) and harmonize the payment of redemption proceeds under NI 81-104 on a T+2 settlement cycle.