OSC Staff Notice 11-763 - A Focused Review of the Securities Valuation and Expense Allocation Practices of Fund Managers
The OSC has published Staff Notice 11-763 to summarize findings from its 2007 review of securities valuation and operating expense allocation of fund managers.
In reviewing the methodologies used to value portfolio securities and practices related to charging of expenses, the Staff Notices states that overall the fund managers reviewed had adequate policies and procedures, used appropriate valuation techniques, followed practices consistent with their disclosure and were adequately overseeing service providers.
