CI Financial Income Fund announced on Tuesday that its subsidiaries, CI Investments Inc. and United Financial Corp., are fully compliant with national securities regulations requiring independent review committees for public investment funds.

CI’s board of governors has taken the final steps to implement National Instrument 81-107, Independent Review Committee for Investment Funds, effective April 2.

CI’s board of governors has followed the general principles set out in NI 81-107 since Canadian securities regulators proposed the policy in early 2004. Relatively minor recent changes to the Board’s mandate were required to bring the Board into full compliance with NI 81-107.

“The board of governors is an important part of the wide-ranging policies and procedures we have put in place to ensure the good governance of our funds,” said Stephen A. MacPhail, president and chief operating officer. “The governors are experienced in business and finance and familiar with our operations and will continue to be effective advocates for investors under the new mandate.”

CI’s board of governors is comprised of four members, all of whom are independent of CI and its affiliates. Their tenures on the board range from 21 months to over five years. The governors are:

– William Harding, managing partner, Alpine Asset Advisors AG;
– Stuart P. Hensman, corporate director;
– Stephen T. Moore, Managing Director, Newhaven Asset Management Inc.;
– Sharon M. Ranson, President, The Ranson Group.