November 2024

November 2024

Securities – CSA Notice and Request for Comment Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, National Instruments 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Investment Funds and National Instrument 81-105 Mutual Fund Sales Practices and Proposed Changes to Companion Policy 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, Companion Policy 81-102 Investment Funds and Companion Policy 81-105 Mutual Fund Sales Practices – The Principal Distributor Model

November 28, 2024 – Today the Financial and Consumer Affairs Authority of Saskatchewan are publishing CSA Notice and Request for Comment Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, National Instruments 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Investment Funds and National Instrument 81-105 Mutual Fund Sales Practices and Proposed Changes to Companion Policy 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, Companion Policy 81-102 Investment Funds and Companion Policy 81-105 Mutual Fund Sales Practices – The Principal Distributor Model.

The Proposed Amendments address the principal distributor model for mutual funds and seek to improve investor protection and maintain investor confidence in our capital markets. The Proposed Amendments clarify that a principal distributor may only act for mutual funds in the same mutual fund family, require disclosure of principal distributor arrangements and compensation and ensure that the DSC option (as defined in the documents below) is not available to investors purchasing mutual fund securities distributed by principal distributors.

• CSA Notice and Request for Comment - The Principal Distributor Model
• Annex A – Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions, and Ongoing Registrant Obligations
• Annex B – Proposed Changes to Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations
• Annex C – Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Annex D – Proposed Amendments to National Instrument 81-102 Investment Funds
• Annex E – Proposed Changes to Companion Policy 81-102CP Investment Funds
• Annex F – Proposed Amendments to National Instrument 81-105 Mutual Fund Sales Practices
• Annex G – Proposed Czhanges to Companion Policy 81-105CP Mutual Fund Sales Practices
• Annex H – Specific Consultation Questions
• Annex I – Local Matters

Comment Period Ends: February 27, 2025.

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca

 

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Securities - CSA Notice of Amendments to National Instrument 41-101 General Prospectus Requirements, National Instrument 81-101 Mutual Fund Prospectus Disclosure, and Related Consequential Amendments and Changes – Modernization of the Prospectus Filing Model for Investment Funds

November 28, 2024 - The Financial and Consumer Affairs Authority of Saskatchewan is publishing CSA Notice of Amendments to National Instrument 41-101 General Prospectus Requirements, National Instrument 81-101 Mutual Fund Prospectus Disclosure, and Related Consequential Amendments and Changes – Modernization of the Prospectus Filing Model for Investment Funds.

Implementation of the Amendments will modernize the prospectus filing model for investment funds, with a particular focus on investment funds in continuous distribution. The CSA’s modernization will better reflect the shift from the delivery of the prospectus to the delivery of the Fund Facts and ETF Facts to investors and reduce unnecessary regulatory burden imposed by the current prospectus filing requirements under securities legislation on investment funds without affecting the currency or accuracy of the information available to investors to make an informed investment decision. The fund facts document and the ETF facts document will continue to be filed annually and will continue to be delivered to investors under the current delivery requirements.

• CSA Notice November 28, 2024
• Annex A - Summary of Comments and Responses 
• Annex B – Amendments to National Instrument 41-101 General Prospectus Requirements
• Annex C – Changes to Companion Policy 41-101CP General Prospectus Requirements
• Annex D – Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Annex E – Changes to Companion Policy 81-101CP Mutual Fund Prospectus Disclosure
• Annex F – Amendments to National Instrument 81-106 Investment Fund Continuous Disclosure
• Annex G – Local Matters

For more information contact:

Heather Kuchuran 
Financial and Consumer Affairs Authority of Saskatchewan
Director, Corporate Finance, Securities Division 
400-2365 Albert Street
Regina, SK, S4P 4K1
Bus: 306-787-1009 
Fax: 306-787-5899
Email: heather.kuchuran@gov.sk.ca

 

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Securities – CSA Notice and Request for Comment, Proposed Amendments to Multilateral Instrument 13-102 System Fees

November 21, 2024 – Today the Financial and Consumer Affairs Authority of Saskatchewan are publishing CSA Notice and Request for Comment, Proposed Amendments to Multilateral Instrument 13-102 System Fees. The CSA is proposing to introduce an updated system fee regime with annual increases in system fees over a 5-year period commencing late 2025. 

• CSA Notice and Request for Comment, Proposed Amendments to Multilateral Instrument 13-102 System Fees
• Annex A - Proposed amendments to Multilateral Instrument 13-102 System Fees
• Annex B - Local Matters

Comment Period Ends: February 19, 2025.

For more information, contact:

Sonne Udemgba
Financial and Consumer Affairs Authority of Saskatchewan
Director, Legal, Securities Division
4th Floor, 2365 Albert Street
Regina, SK  S4P 4K1
Tel: 306-787-5879
Fax: 306-787-5899
Email: sonne.udemgba@gov.sk.ca

 

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Securities – CSA Notice of Republication and Request for Comment – Proposed Amendments and Proposed Changes to Implement an Access Model for Certain Continuous Disclosure Documents of Non-Investment Fund Reporting Issuer

November 19, 2024 – Today the Financial and Consumer Affairs Authority of Saskatchewan are publishing CSA Notice of Republication and Request for Comment – Proposed Amendments and Proposed Changes to Implement an Access Model for Certain Continuous Disclosure Documents of Non-Investment Fund Reporting Issuer.

If implemented, this will introduce an access model for annual financial statements, interim financial reports and related management's discussion & analysis (MD&A) for non-investment fund reporting issuers. This provides alternative procedures whereby electronic access may be provided to annual financial statements, interim financial reports and related MD&A instead of following the delivery requirements currently found in securities legislation.

• CSA Notice of Republication and Request for Comment – Proposed Amendments and Proposed Changes to Implement an Access Model for Certain Continuous Disclosure Documents of Non-Investment Fund Reporting Issuers
• Annex A: List of Commenters and Summary of Comments and CSA Responses
• Annex B: Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations
• Annex C: Proposed Changes to Companion Policy 51-102CP Continuous Disclosure Obligations
• Annex D: Proposed Amendments to National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer
• Annex E: Proposed Changes to Companion Policy 54-101CP to National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer
• Annex F: Local Matter

Comment Period Ends: February 17, 2025.

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca

 

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Securities – CSA Staff Notice 51-365 Continuous Disclosure Review Program Activities for the fiscal years ended March 31, 2024 and March 31, 2023

November 7, 2024 – The Canadian Securities Administrators is publishing CSA Staff Notice 51-365 Continuous Disclosure Review Program Activities for the fiscal years ended March 31, 2024 and March 31, 2023.

• CSA Staff Notice 51-365 Continuous Disclosure Review Program Activities for the fiscal years ended March 31, 2024 and March 31, 2023

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca