Sep 30, 2020 | Investment Funds, News, Regulatory Compliance
On September 14, staff of the Compliance and Registrant Regulation (CRR) Branch at the Ontario Securities Commission (OSC) published their Annual Summary Report for Dealers, Advisers and Investment Fund Managers (Report). The OSC encourages registrants to use the...
Sep 30, 2020 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles
On September 17, the Canadian Securities Administrators (CSA) published for comment proposed changes to the offering memorandum (OM) prospectus exemption (OM Exemption) in National Instrument 45-106 Prospectus Exemptions (NI 45-106) and related guidance in Companion...
Sep 30, 2020 | Investment Funds, Regulatory Compliance
On September 17, the Canadian Securities Administrators (CSA) published final rule amendments (Amendments) to National Instrument 81-105 Mutual Fund Sales Practices (NI 81-105) and certain other instruments to prohibit: The payment of trailing commissions by members...
Sep 30, 2020 | Investment Funds, Regulatory Compliance
On September 18, the Canadian Securities Administrators (CSA) published Staff Notice 81-333 Guidance on Effective Liquidity Risk Management for Investment Funds (Guidance) to help funds develop and maintain an effective liquidity risk management (LRM) framework. The...
Sep 30, 2020 | Cyber-security and Data Privacy, Regulatory Compliance
On September 15, the Office of the Superintendent of Financial Institutions (OSFI) published Developing Financial Sector Resilience in a Digital World: Selected Themes in Technology and Related Risks (Discussion Paper) for comment. Although OSFI’s mandate concerns...
Sep 30, 2020 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
As readers of our bulletin know, the Financial Services Regulatory Authority of Ontario (FSRA) is a relatively new regulatory agency that, in 2019, took over regulatory oversight of mortgage brokers and administrators from the Financial Services Commission of Ontario....
Sep 30, 2020 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On September 24, the Financial Services Regulatory Authority of Ontario (FSRA) published for comment 22 proposed service standards (Standards) for its operations. They include, among other things, performance targets for handling individual applications for mortgage...
