Mutual funds in Saskatchewan have received an exemption from financial statement delivery requirements.

The director of the Securities Division of the Saskatchewan Financial Services Commission has made a general ruling/order GRO 81-901 Exemption for Mutual Funds from Delivering Financial Statements that grants an exemption to mutual funds in Saskatchewan from the requirement to deliver both interim and annual financial statements to their security holders, on certain conditions.

One of the conditions is that the firms must provide financial statements to any security holder who requests them.

The director had previously granted exemption orders to some mutual funds from the requirement to deliver financial statements, based on similar provisions in proposed new rules regarding investment fund continuous disclosure.

The SFSC says that the director felt it was appropriate and expedient to make an general order exempting all mutual funds in Saskatchewan from the delivery requirement on similar terms.

The order expires when the new rules come into force.