May 31, 2021 | Corporate Finance, Regulatory Compliance
The British Columbia Securities Commission has released for comment Proposed BCI 51-519 Promotional Activity Disclosure Requirements which sets out a framework for required disclosure relating to promotional activities. The proposals stem from problematic promotional...
May 31, 2021 | News, Regulatory Compliance
On May 18, 2021, the securities regulatory authorities in Ontario, Manitoba, New Brunswick, Nova Scotia, Quebec and Saskatchewan (the “participating securities regulators”) published the underlying data used to prepare the sixth-year review of women on boards and in...
May 31, 2021 | Client-Focused Reforms (CFRs), Corporate Finance, FAQs, Regulatory Compliance
Answer: Registrants are often asked by their clients, as trusted advisors, to act as their trustee under family trusts, executors under their will or as powers of attorney. The potential issue with accepting any of these roles for a registrant is that they may present...
May 31, 2021 | Anti-Money Laundering, FAQs, Regulatory Compliance
Answer: While it may be considered industry standard to conduct ongoing monitoring annually, FINTRAC allows registrants to determine the frequency with which a registrant will monitor its clients’ accounts. Accordingly, every firm should have policies and procedures...
May 31, 2021 | BLG Resource Corner
Our friends at BLG invite you to scan information from their CFR Communication Series – Surging through 2021 to 2022, starting with a conflicts of interest summary and the new rules relating to titles and misleading communications that are coming into force on...
May 31, 2021 | News, Regulatory Compliance
We are pleased to have been recognized once again by Lexology as the exclusive Legal Influencer for financial services commentary in Canada for the first quarter of 2021. These awards are designed to recognize law firms that provide subscribers with relevant,...
May 31, 2021 | News, Regulatory Compliance
On May 12, AUM Law’s Chris Tooley participated as a speaker at the Portfolio Management Association of Canada (PMAC) Spring Regulatory & Compliance Webcast on FINTRAC audits and Richard Roskies spoke on the topic of OSC audits. If you are interested in a copy of...
May 31, 2021 | News, Regulatory Compliance
Richard Roskies and Chris Tooley will be participating as panelists at the Compliance Officers’ Network hosted by PMAC and Borden Ladner Gervais (BLG) on various topics related to client focused reforms and AML changes. This event will take place on June 2 for members...
May 31, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On May 20, the CSA proposed amendments to NI 51-102 Continuous Disclosure Obligations in order to streamline and clarify continuous disclosure requirements for reporting issuers other than investment funds. The proposed amendments would include consolidating the...
May 31, 2021 | Investment Funds, Regulatory Compliance
IIROC is currently seeking input into a proposed framework for its new Expert Investor Issues Panel, including with respect to the panel’s creation, structure, and operation. The panel is intended to enhance IIROC’s current robust investor outreach efforts and help it...
May 31, 2021 | Corporate Finance, Regulatory Compliance
The CSA has proposed certain amendments to the National Instrument which sets out definitions that apply across various other national instruments, including the definition of “Canadian financial institution”, and consequential amendments resulting from the change....
May 31, 2021 | Investment Funds, Regulatory Compliance
Certain of the securities regulatory authorities are proposing changes to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators to provide for a securities regulatory regime for commodity benchmarks and administrators. MI 25-102, which was...
May 31, 2021 | Investment Funds
For clients who are registered as investment fund managers, a friendly reminder that your initial investment funds survey responses are due on May 31. Additionally, your completed fund data spreadsheet will be due on July 30. Please contact us if you have any...
May 31, 2021 | Client-Focused Reforms (CFRs), News, Regulatory Compliance
A number of new regulatory requirements regarding conflicts of interest, including referral arrangements, come into effect on June 30. These requirements are part of the Client Focused Reforms initiative and require new internal processes and disclosure to clients. If...
