Legal and Regulatory Counsel to Asset Managers

AUM Law is a Canadian law firm focused on serving the asset management sector in the areas of regulatory compliance and investment funds. We also support clients in this sector by providing legal advice and services to clients for structuring entities (including corporations, partnerships, and trusts), raising capital, business combinations, and compliance with reporting issuers’ and investors’ disclosure obligations.

We have the expertise and substantial experience advising clients on Canadian securities laws and regulations, especially the registrant regulation framework including National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103). Our clients include Canadian and foreign investment fund managers, portfolio managers, dealers, and the managers of public and private investment vehicles including real estate funds, mortgage investment vehicles, mutual funds, closed-end funds, alternative funds, and private equity funds who operate in or have investors in Canadian capital markets. We offer fixed-fee quotes for services whenever practicable.

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How Can We Help You?

Our legal and regulatory compliance Solutions

Are you planning to start, acquire or grow an asset management business? Do you have questions about whether your business needs to be registered with Canadian securities regulators or about you and your firm’s ongoing obligations under Canadian securities laws? Are you planning to launch a private or public investment vehicle or do you need legal or regulatory compliance advice about its operations? Are you looking to leverage your existing team by outsourcing some general counsel or compliance functions to a law firm that understands your business? AUM Law has the expertise, experience and connections to help you efficiently navigate Canada’s securities regulatory landscape.

See How We Can Help
  • Registration / licensing of firms and individuals
  • Compliance documentation including compliance manuals
  • Ongoing registrant obligations, including know-your-client (KYC), know-your-product (KYP), suitability and conflicts of interest rules
  • Compliance training
  • Compliance risk assessments (aka “mock audits”)
  • Assistance with implementing the Client-Focused Reforms (CFRs) to National Instrument 31-103 (including regulatory gap analyses, developing implementation plans, updating compliance documentation and customer-facing documents, and training)
  • NRD and other regulatory filings
  • Assistance in completing the Ontario Securities Commission's 2020 Risk Assessment Questionnaire (RAQ)
  • Assistance with regulatory audits and other regulatory examinations
  • Exemptive relief applications and interpretations of securities law
  • Registrant misconduct matters

Learn More About our Regulatory Compliance Practice

  • Formation of public and private, pooled investment vehicles
  • Establishment and acquisition of asset management businesses
  • Drafting prospectus, offering memoranda, terms sheets and other investor disclosure documents
  • Ongoing support for investment fund managers, portfolio managers and dealers
  • Exemptive relief applications and interpretations of securities law
  • SEDAR, SEDI and exempt trade report filings

Learn More about Our Investment Funds Practice

  • Private placements
  • Formation and organization of business entities including corporations, medical professional corporations (MPCs), veterinary professional corporations (VPCs), limited and general partnerships, and trusts
  • Mergers, acquisitions and restructurings
  • Material business agreements
  • Due diligence
  • Custody and maintenance of minute books and corporate record books
  • Corporate governance and compliance
  • Organization of board of directors and shareholder meetings

Learn More About our Corporate Law Practice

Our Approach

AUM Law offers practical, cost-effective legal and regulatory compliance advice from a team that prioritizes your business and understands your industry. We focus on the Canadian asset management sector, and we have deep expertise in the legal and regulatory issues relevant to firms operating in Canada’s exempt and public capital markets.

Our team-based approach, fixed-fee compliance support plans, extensive experience engaging with securities regulators, and connections with other service providers in this industry will help you navigate the evolving securities regulatory environment with confidence so that you can focus on what you do best.

Latest Insights and News

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Bulletin | Staycation Edition | June 2020

Jun 30, 2020

As everyone gets ready for summer, we report on the CSA’s request for feedback on potential changes to the SRO framework, a change in regulatory practice designed to make it easier for client relationship managers to get registered, a significant Federal Court of Appeal ruling on the constitutionality and interpretation of Canada’s Anti-Spam Legislation, the OSC’s plans for the year ahead, and an IOSCO consultation focusing on the use of artificial intelligence by asset managers and market intermediaries. Read about these topics and more in our Staycation edition.

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The RAQ is Back on Track

In March, the Ontario Securities Commission (OSC) announced that due to COVID-19, it was postponing the 2020 Risk Assessment Questionnaire (RAQ) cycle until further notice. On May 28, chief compliance officers (CCOs) of registrants were notified that they will receive...

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