Apr 30, 2020 | Client-Focused Reforms (CFRs), COVID-19, Regulatory Compliance
As we discussed in our October 2019 special bulletin, the Canadian Securities Administrators (CSA) have finalized their client-focused reforms (CFRs) to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103)....
Apr 30, 2020 | COVID-19, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
As we discussed in our March 2019 bulletin and December 2019 bulletin, the Canadian Securities Administrators (CSA) have proposed changes to the securities regulatory framework affecting participants in syndicated mortgage markets. Last December, the CSA announced...
Apr 30, 2020 | COVID-19, Cyber-security and Data Privacy, Regulatory Compliance
As we mentioned in last month’s article on business continuity plans (BCPs), the COVID-19 pandemic has brought with it heightened cyber-security risks. Now more than ever, registered firms need to maintain robust cyber-security policies and procedures, monitor...
Apr 30, 2020 | Anti-Money Laundering, Regulatory Compliance
In July 2019, we reported that the Canadian Government had finalized amendments (Amendments) to regulations made under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA Regulations). The Amendments provided for implementation in phases. The...
Apr 30, 2020 | COVID-19, Regulatory Compliance
April 15, the Compliance and Registrant Regulation (CRR) Branch at the Ontario Securities Commission (OSC) emailed registrants to indicate that it had enhanced and clarified its processes to lift close supervision and strict supervision terms and conditions (T&Cs)...
Apr 30, 2020 | COVID-19, FAQs, Regulatory Compliance
With so many registered firms operating remotely and avoiding in-person meetings with potential clients wherever possible during the COVID-19 pandemic, the question has arisen again whether electronic signatures (e-signatures) are acceptable for various agreements...
Apr 30, 2020 | COVID-19, Regulatory Compliance
On April 17, the Ontario Securities Commission (OSC) announced that it is waiving all late fees that would otherwise accumulate between April 17 and June 1, 2020. The OSC also signalled its willingness to consider ad hoc requests for late fee relief for the pandemic...
Apr 30, 2020 | COVID-19, Investment Funds
On April 17, the Canadian Securities Administrators (CSA) issued blanket orders permitting mutual funds that invest a portion of their assets in fixed income securities to engage in additional short-term borrowing between April 17 and July 31, 2020. Ordinarily, mutual...
Apr 30, 2020 | COVID-19, Regulatory Compliance
This is the time of year when the Ontario Securities Commission (OSC) usually publishes a substantive consultation paper requesting feedback on its proposed statement of priorities (SOP) for the coming fiscal year. On April 30, the OSC announced that, in light of the...
Apr 30, 2020 | Regulatory Compliance
In late March, the Ontario Securities Commission (OSC) submitted to the Minister of Finance amendments to National Instrument 24-101 Institutional Trade Matching and Settlements (NI 24-101) to provide for a three-year moratorium on the trade match exception reporting...
Apr 30, 2020 | COVID-19, News, Regulatory Compliance
As a proud member of the Canadian Association of Alternative Strategies and Assets (CAASA), AUM Law is pleased to contribute to CAASA’s ongoing educational programming. On April 21, our very own Stacey Long contributed her expertise to CAASA’s webinar Marketing Your...
