Category: Canadian Investment Regulatory Organization (CIRO)
Sep 27, 2024 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
On September 19, 2024, the Canadian Investment Regulatory Organization (CIRO) released its Annual Report for 2023-2024 (the Annual Report), alongside the inaugural Investor Advisory Panel (IAP) Annual Report (the IAP Report). These reports provide a comprehensive...
Sep 27, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On September 12, 2024, CIRO released a Rule Consolidation Project Update, providing very useful information on the project status, comment period participation and decisions made to date by CIRO. Of note, rather than wait until the completion of the project, CIRO...
Aug 27, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On July 4, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Rule Amendments which include significant changes to the proficiencies required for every registered position in an investment dealer. Fundamentally, the proposed changes...
Jul 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Investment Regulatory Organization (CIRO) released for comment proposed amendments to its proficiency rules, which would apply to Approved Persons of investment dealers. CIRO’s proposed model would shift from a course centric model...
Jul 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
The Canadian Investment Regulatory Organization (CIRO) recently released a bulletin setting out its priority report, describing CIRO’s focus for the 2025 fiscal year (running from April 2024 – March 2025). For this fiscal year, CIRO is focused on three key areas:...
Jul 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
In the most recent 2023-2024 Enforcement Report, the Canadian Investment Regulatory Organization (CIRO) describes recent changes to enforcement policies as well as notable case highlights. The report begins with a description of the new harmonized Sanction Guidelines...
Jun 27, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Early this month, the Office of the Investor at the Canadian Investment Regulatory Organization (CIRO) released the results of its first investor survey (together with the Innovative Research Group), which was intended to provide insights into trends and financial...
May 30, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On April 25, 2024, the Canadian Investment Regulatory Organization (CIRO) proposed a new integrated fee model for investment dealers and mutual fund dealers, to be effective April 1, 2025. The model is comprised of three components: the Annual Dealer Member Fee, Fees...
May 9, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Click the link to access a PDF of the article >> AUM Law | CIRO’s Proposed Integrated Fee Model | May 2024 On April 25, 2024, the Canadian Investment Regulatory Organization (CIRO) proposed a new integrated fee model for investment dealers and mutual fund...
Apr 24, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Introduction On April 11, 2024, the Canadian Investment Regulatory Organization (CIRO) released its three-year Strategic Plan. The Strategic Plan covers the period of April 1, 2024, to March 31, 2027. CIRO’s CEO Andrew Kriegler states, “The Strategic Plan acknowledges...
Apr 24, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On April 18, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Phase 3 of its Rule Consolidation Project proposals. The objective of Phase 3 is to adopt rules that are common to the IDPC and MFD Rules and have been assessed as not...
Apr 12, 2024 | Anti-Money Laundering, Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
Securities dealers, including CIRO member dealers, are subject to Canada’s anti-money laundering (AML) and anti-terrorist financing (ATF) regime. Securities dealers are required to provide AML training for all staff. AUM Law provides AML/ATF training for front line...
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 | 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 | 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...
