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

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

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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.

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