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SEI Investments Canada Company and Long Duration Credit Bond Fund

2022-09-12 | Order | Securities Act | Investment funds and structured products | https://www.osc.ca/en/securities-law/orders-rulings-decisions/sei-investments-canada-company-and-long-duration-credit-bond-fund

Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii).


The Securities Commission has granted an application for the Long Duration Credit Bond Fund to cease being a reporting issuer. The decision is based on the Fund meeting several conditions: it is not an OTC reporting issuer, its securities are owned by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 worldwide, its securities are not traded on any public marketplace, and it is not in default of any securities legislation. The Ontario Securities Commission, acting as the principal regulator, determined that the Fund satisfied the criteria outlined in the Securities Act and relevant securities legislation, specifically section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended. The decision allows the Fund to stop complying with the reporting obligations in all Canadian jurisdictions where it was previously a reporting issuer.