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Franklin Templeton Investments Corp.

2023-09-14 | Decision | 41-101, 81-102 | Investment funds and structured products | https://www.osc.ca/en/securities-law/orders-rulings-decisions/franklin-templeton-investments-corp-18

National Instrument 41-101 - General Prospectus Requirements, ss. 3.1(2) and 19.1. National Instrument 81-102 - Investment Funds, Parts 9, 10 and 14 and s. 19.1.


The Securities Commission granted an exemption to Franklin Templeton Investments Corp. (the Filer) to facilitate the offering of exchange-traded fund (ETF) securities and conventional mutual fund securities under a single form of prospectus. The Filer is exempt from the requirement to file a long-form prospectus for ETF securities, provided that a simplified prospectus is filed in accordance with National Instrument 81-101 (NI 81-101), and additional disclosure required by Form 41-101F2 is included. The Filer must also file ETF Facts documents as prescribed by Form 41-101F4 for ETF securities and Fund Facts documents as prescribed by Form 81-101F3 for mutual fund securities.

Additionally, the Filer is granted technical relief from Parts 9, 10, and 14 of National Instrument 81-102 (NI 81-102) to allow each fund offering both ETF and mutual fund securities to treat them as separate mutual funds for compliance purposes.

This decision is based on the Filer’s representations, including its compliance with securities legislation, the structure and distribution of the funds, and the listing of ETF securities on recognized marketplaces. The exemption is conditional upon the Filer’s adherence to specific requirements for simplified prospectus filings and compliance with relevant parts of NI 81-101 and NI 81-102 for each type of security offered. The decision aims to streamline the offering process and provide clear disclosure to investors.