Oct 31, 2023 | Investment Funds, Regulatory Compliance
The Canadian securities regulators adopted a business conduct rule for derivatives dealers and advisers which will become effective on September 28, 2024 (the rule or MI 93-101). British Columbia intends to adopt substantially similar rules and when they do so, the...
Oct 31, 2023 | Anti-Money Laundering, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
As noted in our June, 2023 bulletin article, the Department of Finance Canada is considering sweeping amendments to Canada’s anti-money laundering and anti-terrorist financing regime (AML/ATF regime) primarily contained in the Proceeds of Crime (Money Laundering) and...
Oct 31, 2023 | Regulatory Compliance
On October 5, 2023, the Canadian Securities Administrators (CSA) released CSA Multilateral Staff Notice 58-316 (the Notice) – their ninth notice summarizing the responses provided by issuers obligated to disclose information relating to women on boards and in...
Oct 31, 2023 | Client-Focused Reforms (CFRs), Corporate Finance, Investment Funds, Regulatory Compliance
It appears that the long promised regulatory KYC, KYP and suitability audits have begun. Regulators have started reaching out to conduct focused compliance reviews to ensure compliance with the Client Focused Reform requirements that were enacted in 2021. Considering...
Oct 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) and the government of Quebéc announced the approval of delegation of powers to the Canadian Investment Regulatory Organization (CIRO). As described in our May 2022 bulletin, it had already been contemplated that all mutual...
Oct 31, 2023 | Regulatory Compliance
After many consultations and years of discussion, it was announced by the Deputy Prime Minister and Minister of Finance on October 17 that the Ombudsman for Banking Services and Investments (OBSI) would be the single external complaints body for banking effective...
Oct 31, 2023 | Investment Funds, Regulatory Compliance
Earlier this month on October 5th, the Ontario Securities Commission (OSC) released Rule 33-509 Exemption from Underwriting Conflicts Disclosure Requirements. Provided the rule is approved by the Minister of Finance, it will provide an exemption from the requirement...
Oct 31, 2023 | Corporate Finance, Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) have indicated they are not immediately moving forward with proposed amendments to modernize the continuous disclosure requirements for non-investment fund reporting issuers. These proposed amendments, published for comment...
Oct 31, 2023 | Investment Funds, Regulatory Compliance
As per our reminder last month, if you are a firm registered in Ontario under the Securities Act or the Commodity Futures Act, or relying on international exemptions from the registration requirements, be sure to file your 2023 fee forms and pay the applicable capital...
Oct 31, 2023 | Investment Funds, News
We would like to congratulate the following AUM Law clients for their outstanding investment performance, which was recognized at the 16th Annual Canadian Hedge Fund Awards IP Asset Management Inc. (AIP Convertible Private Debt Fund LP) Ewing Morris & Co....
Oct 31, 2023 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: ETFs in the spotlight: The CSA review exchange-traded funds What does a managed service look like in the legal world? Gender diversity in the Canadian boardroom: Where...
