Ontario Securities Act
Part XXI Insider Trading and Self-Dealing
Section 119

Trades by mutual fund insiders

No person or company that has access to information concerning the investment program of a mutual fund or the investment portfolio managed for a client by a registered adviser or registered dealer through discretionary authority provided by the client shall purchase or sell securities of an issuer for his, her or its own account if,

(a) the portfolio securities of the mutual fund or the investment portfolio managed for the client by the registered adviser or registered dealer include securities of that issuer; and

(b) the person or company has used the information for his, her or its direct benefit or advantage.