meta_id 3088126

On April 22, 2026, the British Columbia Securities Commission (BCSC) released an updated consolidation of Form 81-101F1 Contents of Simplified Prospectus, which establishes disclosure requirements for mutual fund simplified prospectuses under National Instrument 81-101 Mutual Fund Prospectus Disclosure. The form consolidates all amendments effective as of April 22, 2026, and provides comprehensive guidance on required disclosure across two sections: Part A (general information applicable to all mutual funds in a family) and Part B (fund-specific information). Key disclosure areas include mutual fund administration responsibilities, valuation methodologies, net asset value calculations, purchase and redemption procedures, fee structures, dealer compensation arrangements, income tax considerations, and investment risk classification methodologies. The updated form emphasises plain language disclosure requirements and encourages mutual funds to use tables, bullet points, and other organisational techniques to enhance readability. Significant provisions address governance through independent review committees, proxy voting policies, brokerage arrangements, securities lending practices, and derivative usage. For alternative mutual funds, the form requires detailed disclosure of leverage sources and maximum aggregate exposure limits. The form also mandates specific certificate requirements signed by mutual fund trustees, managers, promoters, and principal distributors. Mutual fund organisations must ensure simplified prospectuses comply with these requirements when filing with the BCSC and other Canadian securities regulators. The form applies to all mutual fund prospectus filings in British Columbia and other jurisdictions where mutual funds seek distribution. Organisations should review the updated requirements to ensure their disclosure documents reflect the April 22, 2026, effective date and incorporate all specified amendments.