Category: Corporate Finance
Apr 24, 2024 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) have extended the prospectus exemption available to certain self-certified investors in ASC Blanket Order 45-538 Self-Certified Investor Prospectus...
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...
Nov 30, 2023 | Canadian Investment Regulatory Organization (CIRO), Corporate Finance, Corporate Law, Economic Sanctions, Investment Funds, Regulatory Compliance
On October 12, 2023, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) published Staff Notice 31-364 (the Notice) containing their Annual Report (Report) of the Joint Regulators Committee (JRC) which oversees the...
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 | 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...
Aug 31, 2023 | Corporate Finance, Corporate Law, Economic Sanctions, Regulatory Compliance
Earlier this month, the Ontario Ministry of Finance released a proposed new regulation under the Securities Commission Act, 2021 which would expand the purposes for which the Ontario Securities Commission (OSC) can utilize enforcement money collected as a result of...
Jul 31, 2023 | Client-Focused Reforms (CFRs), Corporate Finance, Investment Funds, Regulatory Compliance
On June 21, 2023, the Alberta Securities Commission (ASC) released its 2023 Annual Report, detailing its achievements in the final year of its F2021-2023 three-year strategic plan. The ASC highlighted its active participation in the crypto regulation space, its...
Jul 31, 2023 | Corporate Finance, Investment Funds, Regulatory Compliance
For collective investment vehicles with December 31 year ends, upcoming interim financial statement deadlines should be on your radar. In particular, issuers that rely on the offering memorandum (OM) prospectus exemption in Ontario are subject to new requirements...
Mar 31, 2023 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 8, 2023, staff of the Canadian Securities Administrators (other than Ontario), published revised Multilateral CSA Staff Notice 45-309 (the Notice), first published in 2012, which provides guidance for preparing and filing an offering memorandum (an OM) under...
Mar 31, 2023 | Corporate Finance, Regulatory Compliance
Building off of the Office of the Superintendent of Financial Institution’s (OSFI’s) Culture Risk Management Letter published on March 15, 2022 and the ensuing feedback, OSFI has published a draft Culture and Behaviour Risk Guideline (Proposed Guideline) for...
Feb 28, 2023 | Corporate Finance, Corporate Law, Mortgage and Real Estate Investment Vehicles
Significant changes to National Instrument 45-106 Prospectus Exemptions that impact the use of the offering memorandum prospectus exemption are expected to take effect shortly on March 8, 2023. These changes impact issuers using this specific prospectus exemption to...
Feb 28, 2023 | Corporate Finance, Corporate Law, Regulatory Compliance
On February 22, 2023, the Canadian Securities Administrators published CSA Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings – Changes to Enhance Canadian Investor Protection (the Platform Notice). The Platform Notice impacts crypto...
Sep 27, 2022 | Corporate Finance, Corporate Law
Last month, the Department of Finance Canada released a consultation paper related to proposed changes to the existing governance framework for federally regulated financial institutions (FRFIs). The consultation dealt with a few topics, including diversity disclosure...
Aug 17, 2022 | Corporate Finance, Corporate Law, Regulatory Compliance
The Department of Finance Canada is currently consulting on proposed changes to the governance framework for federally regulated financial institutions (FRFIs) to reflect changes that have been made to corporate legislation regarding diversity requirements, as well as...
Aug 17, 2022 | Corporate Finance, Cyber-security and Data Privacy, Regulatory Compliance
The Office of the Superintendent of Financial Institutions (OSFI) has released its final Guideline B-13 Technology and Cyber Risk Management, which sets out OSFI’s expectations for federally regulated financial institutions (FRFIs) with respect to how they should...
