Feb 26, 2021 | FAQs, Investment Funds, Regulatory Compliance
Answer: When considering an investment in a reporting issuer, we often get questions on whether the early warning reporting (EWR) requirements apply and whether a report is required under National Instrument 62-104 Take-Over Bids and Issuer Bids or National Instrument...
Jan 29, 2021 | FAQs, Investment Funds, Regulatory Compliance
Answer: The FATCA and CRS provisions of the Income Tax Act (Canada) (the “ITA”) and the guidance issued by the Canada Revenue Agency (CRA) in connection with those provisions addresses the application of the FATCA and CRS due diligence and reporting requirements in...
Jan 29, 2021 | FAQs, Investment Funds
Answer: In June 2018, amendments to the custody requirements in NI 31-103 came into force (the “Custody Amendments”). The Custody Amendments include an exception from the requirement to retain a qualified custodian for securities that are recorded on the books of the...
Jul 31, 2020 | FAQs, Regulatory Compliance
Item 14.1 of Form 33-109F4 Registration of Individuals and Review of Permitted Individuals (Form 33-109F4) requires individual applicants to indicate whether there are any outstanding or stayed charges against them alleging that a criminal offense was committed. Once...
Jul 31, 2020 | FAQs, News, Regulatory Compliance
As we mentioned in our May 2020 bulletin, Ontario-registered firms must submit online their 2020 Risk Assessment Questionnaire (RAQ) responses and supplementary COVID-19 survey responses to the Ontario Securities Commission (OSC) by August 6. The OSC introduced...
May 29, 2020 | COVID-19, FAQs, Regulatory Compliance
National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) prohibits an associate advising representative (AAR) from advising on securities unless that advice has been pre-approved by an advising representative (AR)...
Apr 30, 2020 | COVID-19, FAQs, Regulatory Compliance
With so many registered firms operating remotely and avoiding in-person meetings with potential clients wherever possible during the COVID-19 pandemic, the question has arisen again whether electronic signatures (e-signatures) are acceptable for various agreements...
Mar 31, 2020 | COVID-19, Cyber-security and Data Privacy, FAQs, Regulatory Compliance
In light of the COVID-19 outbreak, many registered firms are implementing their business continuity plans (BCPs) and having their employees work from home, except where certain individuals need to access office facilities to ensure continued service to clients. In...
Mar 26, 2020 | COVID-19, FAQs, Regulatory Compliance
Answer: The pandemic is likely to be a life event for many individual clients, who might experience, among other things, a loss or significant decrease in employment or business income, a significant decrease in the value of their investments, and/or become seriously...
Feb 28, 2020 | FAQs, Regulatory Compliance
Answer: Registrants have an obligation to deal fairly, honestly and in good faith with their clients. Among other things, this means that registrants must ensure that their marketing materials (and any representations that they make in social media) are clear,...
Jan 31, 2020 | FAQs, Regulatory Compliance
Answer: The Investment Industry Regulator Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) have rules against such arrangements. Although these rules do not apply to non-member firms and their employees, they reflect a general...
