Investment Funds
Comprehensive legal and regulatory advice for fund managers, portfolio managers, and investors
The business of establishing and running investment funds has become increasingly complex. Our experienced investment funds lawyers and law clerks can advise you in connection with starting or acquiring an asset management business, conducting due diligence on investment managers or opportunities, and selecting, structuring and implementing public or private investment vehicles.
Our clients manage and invest through various pooled vehicles including prospectus-exempt pooled funds, mutual funds including alternative mutual funds, segregated accounts, private equity and venture capital funds, closed-end funds, real estate investment trusts (REITs), mortgage investment corporations (MICs), mortgage investment funds, and syndicated mortgage investments.
We can also prepare offering documents (such as term sheets, offering memoranda and prospectuses), subscription agreements, and investment management agreements, as well as prepare and submit filings to regulators.
AUM Law also provides practical and flexible ongoing legal and regulatory counsel to portfolio managers and investors on the issues that arise during the course of their business, including:
- Assisting clients in conducting due diligence and responding to due diligence inquiries
- Material changes to investment funds
- Independent review committee setup and support
- Exemptive relief applications
- Acquisitions of other businesses
- Restructurings and mergers
- Updates and amendments to offering documents
- Review of service provider agreements
Our Approach
AUM Law offers practical, cost-effective legal and regulatory compliance advice from a team that prioritizes your business and understands your industry. We focus on the Canadian asset management sector, and we have deep expertise in the legal and regulatory issues relevant to firms operating in Canada’s exempt and public capital markets.
Our team-based approach, fixed-fee compliance support plans, extensive experience engaging with securities regulators, and connections with other service providers in this industry will help you navigate the evolving securities regulatory environment with confidence so that you can focus on what you do best.
Investment Funds Group Insights
CSA Consults on Access to Real-Time Market Data; No Pain, No Gain
Earlier this month, the Canadian Securities Administrators (CSA) released CSA Consultation Paper 21-403 Access to Real-Time Market Data, focusing on the costs of various types of access. As defined in the Consultation Paper, ‘real-time market data’ is order and trade...
OSC Announces New Fee Rules as of April 2023 (or you Really Do Have to Pay to Play)
The Ontario Securities Commission (OSC) recently announced that new OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees and their respective companion policies will come into effect on April 2, 2023. As noted in our January 2022 bulletin article, the...
Shooting for the Stars – FSRA Proposes to Eliminate DSCs for Segregated Funds
On November 25, the Financial Services Regulatory Authority of Ontario (FSRA) proposed amendments to the existing Unfair or Deceptive Acts or Practices (UDAP) Rule. The amendments would eliminate deferred sales charges (DSC) on new segregated fund contracts effective...