On May 27, 2005, the Canadian securities regulators released for comment proposed National Instrument 81-107 Independent Review Committee for Investment Funds, as well as related amendments to existing rules. Consistent with the January 2004 publication of NI 81-1071, this version focuses on independent oversight over conflicts of interest of fund managers, but it contains substantively different and additional requirements. In many ways, it is a direct response to the perceived need for enhanced oversight and governance for investment funds in light of the findings from the regulatory scrutiny of investment funds over the past couple of years in Canada and the United States.

type Investment Management Advisory - June 2005