Month: December 2020
Dec 11, 2020 | Featured
In this bulletin: Regulatory Highlights from 2020 OSC Publishes Corporate Finance Branch Report Reminder! Investment Funds Have till January 30 to File Reports of Exempt Distribution OSC Seeks Comment on Proposed Priorities for 2021-22 MFDA and IIROC Publish Proposed...
Dec 11, 2020 | Client-Focused Reforms (CFRs), 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 November 23, our very own Jason Streicher contributed his expertise to CAASA’s webinar Client...
Dec 11, 2020 | News, Regulatory Compliance
On December 10, the Canadian Securities Administrators published guidance (including “recommended best practices”) for issuers and insiders on the establishment, use and disclosure of automatic securities disposition plans. These plans enable insiders to make...
Dec 11, 2020 | Corporate Law, Regulatory Compliance
On December 10, the OSC published a report on recent capital raising activity in the exempt market by corporate (i.e., non investment-fund issuers). As noted in CSA press release, the report revealed that while there has been notable year-over-year growth in the...
Dec 11, 2020 | Client-Focused Reforms (CFRs), News, Regulatory Compliance
The Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) have both published a set of proposed changes to self-regulatory rules designed to conform to the provisions of the Canadian Securities...
Dec 11, 2020 | Investment Funds, Regulatory Compliance
On December 3, the Canadian Securities Administrators (CSA) published Consultation Paper 25-403 Activist Short Selling “to facilitate discussion” about this activity in Canada. As described by the CSA, activist short selling involves an individual or entity that takes...
Dec 11, 2020 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On December 7, the Ontario Securities Commission (OSC) released the final amendments to OSC Rule 45-501 Ontario Prospectus and Registration Exemptions (Amendments). The Amendments are a part of the proposed changes across Canada which, in Ontario, will have as one of...
Dec 11, 2020 | Investment Funds, Regulatory Compliance
In some welcome news for investor advocates, the OSC recently announced that it will provide $3.75 million to FAIR Canada (FAIR), a national charitable organization dedicated to advancing the interests of individual investors. This funding will be provided to FAIR in...
Dec 11, 2020 | Regulatory Compliance
On November 17, the Ontario Securities Commission (OSC) announced that it has awarded a total of $585,000 to three whistleblowers, each of whom provided timely, specific and creditable information that helped advance enforcement action resulting in monetary payments...
Dec 11, 2020 | COVID-19, Investment Funds, Regulatory Compliance
On November 12, the Ontario Securities Commission (OSC) published OSC Notice 13-708 whereby it informed market participants that after reviewing current fee levels and projected cash flows, it has determined that no changes to OSC Rule 13-502 (Fees) and OSC Rule...
Dec 11, 2020 | Investment Funds, Regulatory Compliance
Earlier this year, the Canadian Securities Administrators proposed amendments that will require registrants to take reasonable steps to obtain the name and contact information of a TCP from their clients, as well as the client’s written consent to contact the TCP in...
Dec 11, 2020 | Investment Funds, News, Regulatory Compliance
Welcome news for International Firms! Currently, certain international firms doing business in Ontario in reliance on statutory registration exemptions must also manually apply for discretionary relief from certain registration requirements in the Commodity Futures...
Dec 11, 2020 | Cyber-security and Data Privacy, Regulatory Compliance
The Government of Canada has big plans for privacy protection in Canada. It has proposed the Digital Charter Implementation Act, which is a Bill that would enable the government to establish a new privacy law for the private sector called the Consumer Privacy...
Dec 11, 2020 | Investment Funds, News, Regulatory Compliance
The Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan are proposing an interesting new prospectus exemption as a three-year pilot project as set out in CSA Multilateral Notice and Request for Comment 45-327 Proposed...
Dec 11, 2020 | News, Regulatory Compliance
On November 16, the Ontario Securities Commission (OSC) published OSC Notice 11-791 Statement of Priorities seeking comment on its draft 2021-2022 Statement of Priorities (SoP) to inform its business planning for the 2021-2022 fiscal year ending on March 31, 2022. The...
