Atrium Mortgage Investment Corporation is Not Affected by Recently-Announced Changes to Securities Regulations
24 September 2013 - 10:00PM
Atrium Mortgage Investment Corporation (TSX:AI) is not affected by
recently-announced changes to Canadian securities regulations.
The Canadian Securities Administrators reviewed mortgage
investment corporations in Canada and concluded that certain
mortgage investment corporations should not be characterized as
investment funds under applicable Canadian securities laws due to
the nature of their investment activities. Atrium has always been a
regular reporting issuer, and not an investment fund, under
applicable Canadian securities laws and, as such, is already in
compliance with those new requirements. Although certain
competitors of Atrium may be required to reorganize as a result, no
action is required by Atrium.
Furthermore, the Canadian Securities Administrators have
recently published proposed regulatory changes that would prevent
any investment fund from investing in mortgages other than
mortgages that are fully and unconditionally guaranteed by the
government of Canada, the government of a province or territory of
Canada or by an agency of such government, among other things. As
Atrium is not an investment fund, those proposed regulatory changes
will not apply to Atrium.
About Atrium
As a mortgage investment corporation, Atrium is a non-bank
provider of residential and commercial mortgages that lends in
major urban centres in Canada where the stability and liquidity of
real estate are high. Atrium's objectives are to provide its
shareholders with stable and secure dividends and preserve
shareholders' equity by lending within conservative risk
parameters.
CONTACT: For further information, please contact
Atrium Mortgage Investment Corporation
Robert G. Goodall
President and Chief Executive Officer
Atrium Mortgage Investment Corporation
Jeffrey D. Sherman
Chief Financial Officer
(416) 607-4200
ir@atriummic.com
www.atriummic.com
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