Oct 31, 2022 | Investment Funds, Regulatory Compliance
On October 17, 2022, the Ontario Securities Commission (OSC) published its 2021-2022 Annual Report – Responding to Change; Preparing for the Future (the Report), along with its financial statements for the year ended March 31, 2022, and the accompanying...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
Registrants should be mindful of an uptick in regulatory scrutiny relating to conflicts of interest, as we first noted in our June 2022 bulletin here. As a reminder, the Client Focused Reforms (CFRs) pursuant to National Instrument 31-103 Registration Requirements,...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
On October 13, 2022, the Financial Services Regulatory Authority of Ontario (FSRA) launched a public consultation on its proposed 2023-2024 statement of priorities and recommended financial plan (the Statement of Priorities). FSRA’s proposed priorities continue to...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
On October 19, 2022, the OSC published Staff Notice 81-733 Summary Report for Investment Fund and Structured Product Issuers (the Report). The Report provides an overview of the key activities and initiatives of the OSC’s Investment Funds and Structured Products...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
On October 14, 2022, the Compliance and Registrant Regulation (CRR) Branch of the Ontario Securities Commission (OSC) published its annual summary report in OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers (the Report). The...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
On September 25, 2022, the Ontario Securities Commission (OSC) announced that it had adopted an exemption from the prospectus requirements on a pilot basis. The exemption in effect broadens the accredited investor exemption to persons who have relevant proficiency...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
Earlier this month, the Investment Industry Regulatory Organization of Canada (IIROC) released a request for Expressions of Interest for potential future vendors who wish to provide educational services in connection with IIROC’s proficiency regime. IIROC has already...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
In early October, the Canadian Securities Administrators (CSA) announced the development of a proposal for public comment which would provide the Ombudsman for Banking Services and Investments (OBSI) with binding authority. Currently, all registered advisers and...
Oct 31, 2022 | Regulatory Compliance
A friendly reminder that registered firms in Ontario and foreign firms that rely on certain exemptions from the registration requirements are required to pay annual capital markets fees in Ontario for 2022. The fee forms used to calculate these capital market...
Oct 31, 2022 | Regulatory Compliance
As we also described in our June bulletin, it is expected that it may take some firms a significant amount of time to amend an individual registrant’s Form 33-109F4 to update any “other activities” as required by amendments to National Instrument 33-109 Registration...
Oct 31, 2022 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: Winter and FATCA/CRS audits are coming for financial institutions Proposed access-based model for investment funds’ financial disclosure Cybersecurity framework and...
Oct 31, 2022 | 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 third quarter of 2022. These awards are designed to recognize law firms that provide subscribers with relevant,...
Oct 31, 2022 | Events, News
We are proud to be sponsoring the Portfolio Management Association of Canada (PMAC) Annual Conference, alongside Borden Ladner Gervais (BLG) on November 16 at the Fairmont Royal York in Toronto. Click here to see the agenda and register for the event, and please stop...
