Minister of Finance Approves T+2 Settlement for Mutual Funds

November 27, 2017

Ontario’s Minister of Finance has approved amendments to the following National Instruments which came into force on November 14, 2017:

  • National Instrument 81-102 Investment Funds
  • National Instrument 81-104 Commodity Pools

As previously discussed, the amendments shorten the standard settlement cycle for conventional mutual funds from three days after the date of a trade (T+3) to two days after the date of a trade (T+2) and harmonize the payment of redemption proceeds under NI 81-104 on a T+2 settlement cycle.

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