Notice of Commission Approval - Amendments to IDA By-law 5.6 Small Investments by Industry Investors in Another Member or Holding Company

AMENDMENTS TO IDA BY-LAW 5.6 SMALL INVESTMENTS
BY INDUSTRY INVESTORS IN ANOTHER MEMBER OR HOLDING COMPANY

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission has approved amendments to IDA By-law 5.6 Small Investments by Industry Investors in Another Member or Holding Company. In addition, the Saskatchewan Securities Commission approved, the Alberta Securities Commission did not disapprove and the British Columbia Securities Commission did not object to these amendments. The current rules of the IDA restrict industry investors including employees and officers of member firms from owning securities of members other than the member in which the investor is approved unless certain circumstances exist. One of the requirements is that the investment does not represent a significant equity interest. The amendments to By-law 5.6 amend how a significant equity interest is determined. A copy and description of the amendments were published on November 8, 2002 at (2002) 25 OSCB 7382. No comments were received.