The Securities Commission has granted SLGI Asset Management Inc. (the Filer) an exemption from self-dealing restrictions under paragraph 13.5(2)(b) of National Instrument 31-103. This exemption allows the Filer to facilitate a one-time reorganization by transferring assets in-specie from managed accounts of Sun Life Assurance Company of Canada (SLA) to newly established mutual funds under the Filer’s management. The exemption is subject to conditions ensuring fair valuation and consent from SLA, among others. The decision is based on the Filer’s representations that the reorganization is in the best interests of the managed accounts and will not result in compensation to the Filer for the issuance of fund securities. The exemption is contingent on compliance with specific valuation and record-keeping requirements.
