On September 12, 2019, the Canadian Securities Administrators (the "CSA") published a Notice of Consultation: Reducing Regulatory Burden For Investment Fund Issuers - Phase 2, Stage 1 (the "Publication") (PDF), for a 90-day comment period, which proposes draft amendments aimed at reducing the regulatory burden for investment fund issuers (the "Draft Amendments"). For a summary of this notice, please consult Fasken's bulletin: Reducing Regulatory Burden for Investment Fund Issuers.

The CSA did not publish blackline versions of the regulations and the policy statements that are affected by the Draft Amendments. As Fasken thought it would be useful for those wishing to comment on the Publication to be able to review the Draft Amendments in blackline versions, we are pleased to make available the following:

These blackline versions were created from the current official versions of the above Regulations and Policy Statements available on the website of the Autorité des marchés financiers. Please note that the versions of the equivalent National Instruments and Companion Policies in the other provinces and territories may differ slightly. Also note that, although we used reasonable efforts to ensure the above versions accurately reflect the Draft Amendments, Fasken does not guarantee such accuracy.

Fasken is working on a comment letter to the CSA. If you have comments on the Draft Amendments, but do not wish to submit a comment letter, we invite you to send your comments to us and we will consider whether we can include them in our letter.