Nov 29, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
The Ontario Securities Commission (OSC) has released OSC Notice 11-799 – Statement of Priorities: Request for Comments Regarding Statement of Priorities for Fiscal Year 2025-2026. The proposed Statement of Priorities is intended to reflect the OSC’s key priorities...
Nov 29, 2024 | Regulatory Compliance
On November 5, the Ontario Securities Commission (OSC) released OSC Staff Notice 81-736 Summary Report for Investment Fund and Structured Product Issuers (the Report) for the OSC Investment Management Division (IM Division) for the fiscal year ended March 31, 2024....
Nov 29, 2024 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
The Canadian Investment Regulatory Organization (CIRO) is proposing reforms to its Arbitration Program. The Investment Industry Regulatory Organization of Canada (IIROC), one of CIRO’s predecessor organizations, had previously sought comments on the program, which...
Nov 29, 2024 | Regulatory Compliance
The Canadian Securities Administrators (CSA) except for the British Columbia Securities Commission (pending governmental approval post-election) have published proposed amendments (Proposed Amendments) to Multilateral Instrument 13-102 System Fees (MI 13-102). As a...
Nov 29, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) announced on November 20 that as part of an effort to create efficiencies and reduce regulatory burden its members are considering delegating select registration functions to the Canadian Investment Regulatory Organization...
Nov 29, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Investment Regulatory Organization (CIRO) released its summary of rule exemptions granted by CIRO in 2023. Some common exemptions granted included: exemptions from UMIR provisions granted by CIRO staff from the rules relating to...
Nov 29, 2024 | Regulatory Compliance
Investment funds that utilize the option in National Instrument 45-106 – Prospectus Exemptions (NI 45-106) to file Reports of Exempt Distribution on Form 45-106F1 (Reports) once a year should start to consider populating the required information now. As you may...
Nov 29, 2024 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
At the time of this publication, there is an ongoing postal strike across Canada. Various regulators have issued statements or other guidance, reminding market participants that securities law contains various requirements with respect to the filing of documents with...
Nov 29, 2024 | BLG Resource Corner
Our colleagues at BLG have provided a variety of insights we thought might interest our readers: No certification for Boal investors – Fiduciary duty ruled individual issue Investing in the long game Cleaning up disclosure: CSA provides guidance on AI washing and...
Oct 31, 2024 | Investment Funds, Regulatory Compliance
The Ontario Securities Commission (OSC) has released an interesting discussion paper with respect to a potential new type of public investment fund that could hold long-term assets. In Consultation Paper 81-737 Opportunity to Improve Retail Investor Access to...
Oct 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On October 17, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Phase 4 of its Rule Consolidation Project proposal (Proposal) relating to the consolidation of the two sets of rules currently applicable to investment dealers and mutual...
Oct 31, 2024 | Investment Funds, Regulatory Compliance
Last month, the Ontario Securities Commission (OSC) released a report on research performed in conjunction with the Behavioral Insights Team (the BIT) into the role that artificial intelligence (AI) plays in supporting retail investor decision making. The OSC then...
Oct 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Earlier this month, CIRO released an Amendment regarding individual Approved Person proficiencies. The purpose of the amendment is to eliminate a conflict between National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and...
