Order Execution Only (“OEO”) Switches – Discount Broker Trailer Fee Ban

Effective June 1, 2022, fund managers will be prohibited from paying trailer fees to accounts that are designated as OEO, often referred to as ‘discount broker’ or ‘self-directed’ accounts.  The Canadian Securities Administrators’ (CSA) Order-Execution-Only (OEO) trailer ban applies to products under the Ontario Securities Commission’s National Instrument 81-105 Mutual Fund Sales Practices (NI 81-105).

OEO accounts currently holding units in a trailer paying class/series in Marquest Explorer Fund and Marquest Flex Dividend & Income Growth Fund (collectively “Mutual Fund”) are switching into a non-trailer paying class/series effective on May 1, 2022.

For OEO accounts holding Flow-Through Limited Partnership Class A units (“FT units”), when the Flow-Through Limited Partnership rolls over to the Mutual Fund, the FT units will be rolled over to Mutual Fund Series F effective June 1, 2022.

If you have any questions, please contact Marquest Client Services by email (clientservices@marquest.ca) or by phone at 1-888-964-3533 or 416-365-4077.