Acts and Regulations

S-5.5 - Securities Act

Section 144
Disposition versions

Full text
Prohibited transactions
Repealed: 2007, c.38, s.148
2007, c.38, s.148
144Repealed: 2007, c.38, s.149
2007, c.38, s.149
Prohibited transactions
144(1)A portfolio manager shall not knowingly cause any investment portfolio managed by the portfolio manager to be made up of
(a) an investment in any issuer in which a responsible person or an associate of a responsible person is an officer or director unless that information is disclosed to the client and the written consent of the client to the investment is obtained before the purchase,
(b) a purchase or sale of the securities of any issuer from or to the account of a responsible person, an associate of a responsible person or the portfolio manager, or
(c) a loan to a responsible person, an associate of a responsible person or the portfolio manager.
144(2)Where the Commission determines that a portfolio manager is subject to by-laws or other regulatory instruments or practices or policies imposed by a self-regulatory organization which have substantially the same effect as the requirements set out in subsection (1), the Commission may, subject to such terms and conditions as the Commission considers appropriate, exempt the portfolio manager from the requirements of subsection (1).