If I change my mind after purchasing a fund, what can I do?
Under securities laws in some provinces and territories, investors have the right to:
- withdraw from an agreement to buy securities (including mutual funds) within two business days after receiving the prospectus;
- cancel the purchase of mutual funds within 48 hours after receiving confirmation of purchase;
- cancel the purchase of a mutual fund if the disclosure documents such as the simplified prospectus, annual information form, Fund Facts document or financial statements contain a misrepresentation or if the dealer did not send or deliver the prospectus in compliance with the regulations; or
- make a civil claim for rescission or damages if the disclosure documents contain a misrepresentation or if the dealer did not send or deliver the prospectus in compliance with the regulations.
Investors must act within the time limit set by securities law in their province or territory.
For more information, you may contact the Ontario Securities Commission (OSC) toll-free at 1-877-785-1555 or the securities regulator in your province or territory, or speak with a lawyer.