Jun 30, 2021 | BLG Resource Corner
Our colleagues at Borden Ladner Gervais LLP publish a wealth of information every month. All are available on the BLG’s website, under Insights. Some selected Insights published in June that may be of interest to you include a primer on M&A in Canada, an update on...
Jun 30, 2021 | FAQs, Investment Funds, Regulatory Compliance
Answer: Canadian securities laws require that a registered firm manage material conflicts of interest in the best interests of its clients. The Canadian Securities Administrators have provided guidance that paid referral arrangements are an inherent conflict of...
Jun 30, 2021 | FAQs, Regulatory Compliance
Answer: GIPS standards are a recognized standard for calculating and presenting investment performance around the world. While Canadian securities laws do not require a firm to comply with GIPS standards, a firm may wish to do so in order, for example, to demonstrate...
Jun 30, 2021 | Corporate Finance, FAQs, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
Answer: As of July 1, 2021, the OSC will have regulatory oversight over the distribution of NQSMIs to persons that are not permitted clients. Firms distributing NQSMIs to investors that are not permitted clients will need to rely on another available prospectus...
Jun 30, 2021 | Investment Funds, Regulatory Compliance
The Financial and Consumer Services Commission released proposed Local Rule 81-510 Self-Dealing on June 24 for a 60-day comment period. The stated purpose of the rule is to provide additional guidance regarding the meaning of certain terms used in Part 10 of the...
Jun 30, 2021 | Investment Funds, News, Regulatory Compliance
As a follow-up to our article, All Together Now – OSC Joins DSC Ban, in the May 2021 AUM Law Bulletin, we can report that on June 23 the Canadian Securities Administrators (CSA) issued CSA Notice 31-360 Blanket Orders/Class Orders in respect of Transitional...
Jun 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On June 23, the CSA announced the final publication of National Instrument 45-110 Start-Up Crowdfunding Registration and Prospectus Exemptions (NI 45-110), along with CSA Staff Notice 45-329 Guidance for using the start-up crowdfunding registration and prospectus...
Jun 30, 2021 | Anti-Money Laundering, News, Regulatory Compliance
On June 1, 2021, amendments to the regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act took effect. The amendments to the regulations were accompanied by revised and new FINTRAC guidance dated June 1, 2021. The amendments have the...
Jun 30, 2021 | Regulatory Compliance
Clients who trade derivatives over the Bourse might be interested in proposals released in late May to amend Part 4 of the Rules of the Bourse that relate to its regulatory functions, including investigations, enforcement, and disciplinary actions. The proposed...
Jun 30, 2021 | Investment Funds, Regulatory Compliance
A friendly reminder that Ontario businesses with 20 or more employees must file a prescribed Accessibility Compliance Report due today, June 30, 2021. The purpose of the Report is to determine compliance with the accessibility requirements of the Accessibility for...
Jun 30, 2021 | Client-Focused Reforms (CFRs), News, Regulatory Compliance
On June 21, both IIROC and the MFDA published proposed guidance regarding suitability that relate to the CSA’s client-focused reforms. IIROC’s Proposed Guidance on Know-your-client and Suitability Determination, applicable to investment dealers and their...
Jun 30, 2021 | Client-Focused Reforms (CFRs), Regulatory Compliance
As the June 30th deadline for the “part one” of the Client Focused Reforms passes us in the rear-view window and we go and enjoy our long weekend, we wanted to highlight some high-level considerations for “part two”. This “part two” mainly deals with the KYC/KYP and...
Jun 30, 2021 | Cyber-security and Data Privacy, Regulatory Compliance
In case you missed it, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published a joint statement on February 1, 2021 around the time when trading in GameStop Corp., AMC Entertainment Holdings Inc.,...
