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<p><span>The Ontario Securities Commission (OSC) today announced the membership of its Seniors Expert Advisory Committee (SEAC) for the 2021-2022 term.</span></p>
Melissa Shin
After a two-year break, the federal government is pressing forward with proposed changes to how mutual fund trusts allocate income and capital gains when unitholders make redemptions.
The 2021 budget implementation bill tabled on April 30 contains legislation nearly identical to what was tabled in July 2019, except the new bill does not apply to tax years beginning before Dec. 16 for any exchange-traded mutual fund trusts i.e., ETFs.
The Department of Finance “hasn’t managed to sort out what the appropriate rules should be with respect to ETFs, and want to give themselves more time to work it out,” said Nigel Johnston, partner at McCarthy Tétrault LLP in Toronto. “In the meantime, ETFs can continue on as they were.”
Ontario Regulator To Ban Deferred Sales Charges On Mutual Funds Advertisment The Ontario Securities Commission (OSC) says it is planning to ban deferred sales charges on mutual funds starting next year.
The securities regulator has announced that it is preparing to prohibit the payment of upfront sales commissions by fund organizations to dealers. The move will harmonize the watchdog s policy on such fees with the rest of Canada.
Deferred sales charges are paid by investors when they withdraw money from mutual funds before a set date. Critics have long opposed such fees because advisers earn upfront commissions higher than they would on other types of mutual funds, potentially incentivizing them to push deferred sales charge funds over ones with lower costs.