TORONTO, May 23, 2024
/CNW/ - The Canadian Securities Administrators (CSA) today
published final amendments that would help mutual funds that
voluntarily shorten their trade settlement cycles from two trading
days to one (T+1), following the transition by North American
securities markets to T+1 settlement this month.
The amendments accommodate a range of settlement cycles for
mutual funds, including those switching to T+1. This includes
amendments that clarify payment dates for transactions and the
timeframe for forced redemption of securities for non-payment. For
funds moving to T+1, the timeframe for forced redemption of
securities for non-payment changes from three days to two days
after the pricing date.
The CSA Notice on Amendments to National Instrument 81-102
Investment Funds and changes to its Companion Policy
81-102CP can be found on CSA members' websites.
The CSA, the council of the securities regulators of
Canada's provinces and
territories, co-ordinates and harmonizes regulation for the
Canadian capital markets.
For media inquiries, please contact:
Ilana
Kelemen
Canadian Securities
Administrators
media@acvm-csa.ca
|
Andy
McNair-West
|
Ontario Securities
Commission
media_inquiries@osc.gov.on.ca
|
For investor inquiries, please contact your local
securities regulator.
SOURCE Canadian Securities Administrators