The Securities Commission has granted an order for the Horizons US 7-10 Year Treasury Bond CAD Hedged ETF (the Horizons Fund), managed by Horizons ETFs Management (Canada) Inc. (the Filer), to cease being a reporting issuer. This decision is based on the following key points:
1. The Horizons Fund is not a reporting issuer for over-the-counter markets in the U.S.
2. The number of security holders is below the threshold, with fewer than 15 in each Canadian jurisdiction and fewer than 51 worldwide.
3. The Horizons Fund’s securities are not traded on any public marketplace or facility in Canada or internationally.
4. The Filer has requested the Horizons Fund to cease being a reporting issuer in all Canadian jurisdictions where it currently has this status.
5. The Horizons Fund is compliant with all securities legislation requirements in every jurisdiction.
The order is supported by the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The Ontario Securities Commission, acting as the principal regulator, has determined that the order satisfies the criteria set out in the applicable securities legislation.