The Ontario Securities Commission has published its Investment Management Division Annual Summary Report, outlining key supervisory and policy work undertaken in fiscal 2024–2025. The report is positioned as a resource for investment fund managers, advisers and service providers, and reflects the division’s expanded scope to include regulatory policy matters affecting both investment fund managers and portfolio advisers. Operationally, the volume of prospectus reviews was stable but included reviews tied to the launch of the first Solana exchange-traded funds, while exemptive relief applications and targeted continuous disclosure reviews increased. Targeted reviews included assessing disclosures related to artificial intelligence and sales communications for accuracy and compliance. On policy, the report points to final rules modernizing the investment fund prospectus filing model coming into force, proposals to review the principal distributor model and the chargeback model, and ongoing work to modernize continuous disclosure documents; emerging initiatives include consultation on a new investment fund product structure to improve investor access to long-term assets and continued development of the Investment Fund Survey.

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