The Canadian Securities Administrators (CSA) published final amendments that would help mutual funds that voluntarily shorten their trade settlement cycles from two trading days to one (T+1), following the transition by North American securities markets to T+1 settlement this month.
The amendments accommodate a range of settlement cycles for mutual funds, including those switching to T+1. This includes amendments that clarify payment dates for transactions and the timeframe for forced redemption of securities for non-payment. For funds moving to T+1, the timeframe for forced redemption of securities for non-payment changes from three days to two days after the pricing date.
The CSA Notice on Amendments to National Instrument 81-102 Investment Funds and changes to its Companion Policy 81-102CP can be found on CSA members’ websites.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Source: CSA
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
https://www.marketsmedia.com/as-technology-evolves-asset-managers-adapt-and-innovate/
Citi Changes Organizational Structure
https://www.marketsmedia.com/citi-changes-organizational-structure/
SEC Charges Virtu for Disclosures Relating to Information Barriers
https://www.marketsmedia.com/sec-charges-virtu-for-disclosures-relating-to-information-barriers/
ICE Futures Singapore Partners with CoinDesk Indices
https://www.marketsmedia.com/ice-futures-singapore-partners-with-coindesk-indices/
Related articles
-
Work is underway to extend retail access to private markets in model portfolios & target date funds.
-
The European fund manager reached record assets under management of €2.2 trillion.
-
There is growing institutional demand for bitcoin yield.
-
The new additions almost double the number of tradable ETFs.
-
The average pay gap at investment firms was 32%.