Mar 28, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
On March 13, 2024, the Canadian Investment Regulatory Organization (CIRO) released its compliance priorities for the year. There is much in the document for CIRO members to note. Dealers need to pay special attention to the emphasis on compliance with the Client...
Mar 28, 2024 | Investment Funds, Regulatory Compliance
The CSA published additional guidance on ESG investment fund disclosure practices on March 7, 2024. CSA Staff Notice 81-334 (Revised) ESG-Related Investment Fund Disclosure (Staff Notice) replaces and augments the guidance published in January 2022. The 2024 guidance...
Mar 28, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Regulatory Compliance
Since the CFRs in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations came into effect the other year, firms have been making serious efforts to meet their enhanced conduct obligations. This includes taking reasonable...
Mar 28, 2024 | Client-Focused Reforms (CFRs), Regulatory Compliance
Registrants are reminded that your basement is not the only thing that may need some spring cleaning – it may be time to dust off the product shelf and review your Know-Your-Product (KYP) documentation to ensure it is up to date. With securities regulators likely...
Mar 28, 2024 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 6, 2024, the Financial Services Regulatory Authority of Ontario (FSRA) released proposed guidance (Proposed Guidance) outlining FSRA’s interpretation of the licensing suitability requirements and FSRA’s approach to assessing an applicant’s suitability to hold...
Mar 28, 2024 | Anti-Money Laundering, Counter-Terrorist Financing, Regulatory Compliance
On February 24, 2024, the Ministerial Directive on Financial Transactions Associated with Russia (the Directive) took effect. The Directive applies to various entities regulated under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act),...
Mar 28, 2024 | Regulatory Compliance
On March 13, the Canadian Sustainability Standards Board (CSSB) released Canadian Sustainability Disclosure Standards (CSDS) for public consultation. These standards are based on the standards released by the International Sustainability Standards Board (ISSB) last...
Mar 28, 2024 | Canadian Investment Regulatory Organization (CIRO), COVID-19, Regulatory Compliance
Back in the early (and dark) days of the pandemic, we published our April 2020 Bulletin Working From Home Edition. We followed that up with an article in our May 2020 Bulletin titled “May an associate advising representative work remotely or in a one-person branch...
Mar 28, 2024 | Corporate Finance, Investment Funds, Regulatory Compliance
A friendly reminder to registrants of the requirement under Part 12 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations to file the firm’s annual audited financial statements with the firm’s principal securities...
Mar 28, 2024 | Regulatory Compliance
In our February bulletin, we wrote about the importance of updating your SEDAR+ profile if the information contained in the profile is inaccurate. Generally, information must be updated no later than 10 days after the date on which the transmitter knew, or reasonably...
Mar 28, 2024 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: Responsible use of artificial intelligence: Best practices for Canadian asset managers Updated guidance on preparing a modern slavery report in Canada Canadian Securities...
Mar 21, 2024 | Regulatory Compliance
In a busy dealer compliance department, it is always difficult to find time to update and maintain dealer policies and procedures, conflict of interest policies or disclosure documentation. We can review and update your policies and disclosures. Reach out to AUM Law...
Mar 8, 2024 | Regulatory Compliance
Securities registrations can be complex and time consuming, especially if experienced staff are not available to manage the process. Outsourcing the registration process is an efficient and cost-effective way to manage registrations. AUM Law’s team can manage your...
