The Ontario Securities Commission (OSC) recently announced that it is extending the blanket relief first issued in January 2021 in regards to the proficiency requirements applicable to mutual fund restricted individuals that trade in securities of alternative mutual funds.

Recognizing that the proficiency requirements in National Instrument 81-104 Alternative Mutual Funds pre-date the introduction of the alternative mutual fund regulatory regime, the OSC’s blanket relief provides for additional course options for individuals seeking to meet the applicable proficiency requirements. The blanket relief, which was set to expire on July 28, 2022, has now been extended to January 29, 2024.

For more information, see Ontario Rule 81-507 Extension to Ontario Instrument 81-506 Temporary Exemptions from National Instrument 81-104 Alternative Mutual Funds.