Canada’s NI 81-102 Alternative Funds: Call for Volunteers for DDQ Module & Risk Ratings Working Groups

Published: 17 April 2018


In tandem with the working group being formed for the NI 81-102 implementation guide (see above -- call for volunteers for the guide closing April 20th), AIMA is pleased to announce that there will be two additional working groups;

  1. A DDQ Module for Canadian Alternative Funds to be included as a product module in the AIMA Illustrative Questionnaire for the Due Diligence of Investment Managers; and
  2. A Risk Rating Proposal for Alternative Funds to be presented to regulators as a recommendation on how Canadian Alternative Funds should be categorised from a risk perspective.  Although this is  related to the Implementation Guide, this work will proceed along a parallel track to allow participation from risk experts.

The implementation of final amendments, which follow on from a September 2016 proposal regarding the “Modernization of Investment Funds Product Regulations – Alternative Funds” are widely expected to become effective as part of a legislative package to be adopted near mid-year. 

These projects will be drafted by members for the benefit of members.  Accordingly, we are seeking volunteers from the membership to participate in this working group.  

If you would like to participate, please send an email to Claire Van Wyk Allan by no later than the close of business on Thursday, 3 May 2018 and include: (i) your name, (ii) your company name, and (iii) your experience, especially with respect to manager due diligence or risk analysis, respectively.  We will select a working group from among the volunteers with as diverse types of experience as we can.  Non-Canadians are welcome to volunteer, but we will ask you to be more specific in relation to your experience. 

If you do not have the time or inclination to participate on one of these working groups but you have ideas about what you think should be covered, please send any ideas you have to ClaireUzi Rosha or Jennifer Wood so they can be considered.