Manager responsibility for fund investments now includes joint liability with investment committee and investor consent for external members. AIF regulations now require the Manager's key investment team to include at least one person with five years' relevant experience and one person with specified professional qualifications (or the same person may satisfy both). The Manager retains primary responsibility for investment decisions but may form an Investment Committee whose members are jointly and severally responsible with the Manager; external committee members not disclosed at onboarding require consent of investors holding at least seventy five percent by value. The Board may add further conditions.
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Provisions expressly mentioned in the judgment/order text.
Manager responsibility for fund investments now includes joint liability with investment committee and investor consent for external members.
AIF regulations now require the Manager's key investment team to include at least one person with five years' relevant experience and one person with specified professional qualifications (or the same person may satisfy both). The Manager retains primary responsibility for investment decisions but may form an Investment Committee whose members are jointly and severally responsible with the Manager; external committee members not disclosed at onboarding require consent of investors holding at least seventy five percent by value. The Board may add further conditions.
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