Aug 31, 2021 | BLG Resource Corner
Our colleagues at BLG LLP have written a number of thought-provoking articles our readers may be interested in, including the following: OSFI updates Technology and Cyber Security Incident Reporting Advisory This is not a test….Ontario’s Not-for-Profit Corporations...
Aug 31, 2021 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) has released a proposed approach guidance, outlining its intentions with respect to how and when it will publish information about enforcement proceedings and investigations in the sectors it regulates,...
Aug 31, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On July 28, 2021, the Canadian Securities Administrators (CSA) announced a proposed new prospectus exemption for issuers listed on a Canadian stock exchange. The proposal is in response to comments received from CSA Consultation Paper 51-404 Considerations for...
Aug 31, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On August 12, the Canadian Securities Administrators (CSA) released proposed amendments to the Companion Policy to National Instrument 41-101 General Prospectus Requirements that provides an interpretation of the financial statements that are required to be included...
Aug 31, 2021 | Client-Focused Reforms (CFRs), FAQs
Answer: While some are breathing a (small) sigh of relief as the deadline for complying with the conflict-of-interest provisions of the Client Focused Reforms has passed, it is time to consider how prepared your firm is for the next phase of the CFR amendments, coming...
Aug 31, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
The Canadian Derivatives Clearing Corporation (CDCC) has proposed amendments to its Rules, Operations Manual, Risk Manual and Default Manual to introduce the Gross Client Margin Model (GCM). The changes being proposed by the CDCC are intended to align with...
Aug 31, 2021 | Investment Funds, Regulatory Compliance
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) released draft regulations under The Financial Planners and Financial Advisors Act relating to title protection. The legislation and proposed regulations are based primarily on Ontario’s framework of...
Aug 31, 2021 | Investment Funds, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) proposed amendments to Rule 2019-001 – Assessments and Fees (the Fee Rule) in late July, which sets out the structure for fees to be charged to credentialling bodies (each, a CB) with respect to the title...
Aug 31, 2021 | Regulatory Compliance
On June 29, 2021 the Ontario Securities Commission (OSC) published its 2021-2022 Statement of Priorities (the Statement of Priorities) for the financial year ending March 31, 2022. The OSC received 16 comment letters on its draft Statement of Priorities which was...
Aug 31, 2021 | Regulatory Compliance
On July 22, 2021, the Ontario Securities Commission (OSC) published OSC Staff Notice 15-707 Enforcement Investigation Guidance and OSC Staff Notice 15-708 Document Production Guidance (the Guidance) to assist individuals and companies that participate in initial...
Aug 31, 2021 | Investment Funds, Regulatory Compliance
The Department of Finance Canada released a consultation paper on July 16 relating to the complaint handling process used by consumers for banking services and products. The consultation document follows a review of the process and Canada’s external complaint handling...
Aug 31, 2021 | Client-Focused Reforms (CFRs), Regulatory Compliance
On July 15, 2021, the Canadian Securities Administrators (CSA) published final amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations that are intended to improve the protection of older and vulnerable...
Aug 31, 2021 | Client-Focused Reforms (CFRs), Investment Funds, Regulatory Compliance
On August 10, 2021, staff of the Compliance and Registrant Regulation (CRR) Branch at the Ontario Securities Commission (OSC) published OSC Staff Notice 33-752 Summary Report for Dealers, Advisers and Investment Fund Managers (Report). The Report provides an overview...
Aug 31, 2021 | Investment Funds, Regulatory Compliance
On August 3, 2021, the Canadian Securities Administrators (CSA) published CSA Position Paper 25-404 – New Self-Regulatory Organization Framework (Position Paper), announcing its plans to create a new single Self-Regulatory Organization (New SRO). The Position...
