The Securities Commission has granted an application by The Manufacturers Life Insurance Company (the Filer) to cease being a reporting issuer in all Canadian jurisdictions. The decision was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, specifically section 1(10)(a)(ii). The Ontario Securities Commission served as the principal regulator, and the Filer indicated reliance on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System for all provinces and territories outside Ontario.
The decision was based on several key representations by the Filer:
1. The Filer is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The Filer’s securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. The Filer’s securities are not traded on any public marketplace in Canada or elsewhere.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has that status.
5. The Filer is not in default of any securities legislation in any jurisdiction.
Given these representations, the principal regulator concluded that the Filer met the legislative requirements to cease being a reporting issuer and approved the application.