BCSC extends MIE registration exemption to June 2013

The British Columbia Securities Commission yesterday announced that it is extending the exemption from the dealer registration requirement for trades in securities of mortgage investment entities (MIEs) until June 30, 2013. As we discussed last year, analogous exemptions in the other Canadian jurisdictions expired on March 31, 2011 following the release of CSA guidance (CSA Notice 31-323) to clarify the circumstances in which the investment fund manager registration requirement would apply to MIEs. For more information, see BC Instrument 32-517.

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