The Ontario Securities Commission (OSC) has granted an application for the Manulife EAFE Equity Fund to cease being a reporting issuer in all Canadian jurisdictions where it previously held this status. The application was made by Manulife Investment Management Limited, with the OSC acting as the principal regulator under the National Policy 11-206 Process for Cease to be a Reporting Issuer Applications.
Key factors influencing this decision include:
– The Fund is not an OTC reporting issuer as per Multilateral Instrument 51-105.
– The Fund’s securities are held by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 securityholders worldwide.
– The securities are not traded on any public marketplace in Canada or internationally.
– Manulife Investment Management Limited sought to have the Fund cease its reporting issuer status across Canada.
– The Fund is compliant with all securities legislation requirements in the jurisdictions of concern.
The decision was made under the authority of section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended. The OSC concluded that the application satisfied the legislative requirements for ceasing to be a reporting issuer, and thus the requested order was granted.