Canada:
Minister Of Finance Approves T+2 Settlement For Mutual Funds
29 November 2017
Stikeman Elliott LLP
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Ontario's Minister of Finance has approved amendments to the following National
Instruments which came into force on November 14, 2017:
- National Instrument 81-102
Investment Funds
- National Instrument 81-104
Commodity Pools
As previously discussed, the amendments shorten
the standard settlement cycle for conventional mutual funds from
three days after the date of a trade (T+3) to two days after the
date of a trade (T+2) and harmonize the payment of redemption
proceeds under NI 81-104 on a T+2 settlement cycle.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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