Category: Featured
Sep 27, 2022 | Featured
In this bulletin:
- Discussion Paper Released on Upfront Compensation for Segregated Funds and IVICs: Transition Time
- Back to the Books: OSC Study Finds Many Investors Overestimate Their Knowledge
- Amendments to National Instrument 45-106 on the Horizon as the Listed Issuer Financing Exemption Takes Flight
In Brief: Not All Autumn Skies and Apple Pies – Could New Trust Tax Reporting Rules Apply to You? ▪ It’s Getting Cooler but the Regulators are Heating Up: Review of Mutual Fund Sales Practices ▪ New School Year, New Potential Disclosure Policies from the Department of Finance Canada ▪ Things to Contemplate Post-Equinox: IIROC Releases Third Phase of Competency Profiles for Comment
BLG’s Resource Corner
News
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | Seasonal (Regulatory) Change Edition | September 2022
Aug 17, 2022 | Featured
In this bulletin:
- Keeping Fit: OSC’s Investor Advisory Panel Releases Report
- Don’t Stress Out: We’ll Explain the Expansion of the Self-Certified Investor Prospectus Exemption
- IIROC Enforcement Report 2021-2022: Trends to Note
- All Work and No Play: CSA’s 2021-2022 Enforcement Report Released
- Making Changes: Saskatchewan Republishes Title Protection Rules for Comment
- The Importance of Inclusion: The Department of Finance Canada Consults on Modernizing Corporate Governance for Federally Regulated Financial Institutions
In Brief: Healthy Habits: New Investor Advisory Panel Established by CSA ▪ Roundtable to be Held on Derivatives Business Conduct Rules – A Potential Lunch and Learn Opportunity for Your Team ▪ No Laughing Matter: OSFI Releases Final Guideline for Technology and Cyber Risk
BLG’s Resource Corner
News
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Wellness Edition | Summer 2022
Aug 8, 2022 | Featured
Bill Donegan joins AUM Law as senior compliance consultant
Toronto (August 8, 2022) – AUM Law and Borden Ladner Gervais LLP (BLG) are delighted to welcome Bill Donegan to AUM Law as senior compliance consultant.
Bill Donegan is a seasoned lawyer and senior compliance officer with a wealth of experience working within asset management and distribution firms, as well as the Mutual Fund Dealers Association of Canada (MFDA). He has managed large compliance teams and has acted as chief compliance officer for the wealth management arms of major financial institutions in Canada.
“Bill brings AUM Law his unique business and compliance experience along with a deep understanding of the regulatory environment for securities registrants and the challenges and opportunities they face,” said Kevin Cohen, National Leader, AUM Law. “Bringing Bill onboard is a significant step in securing our reputation as a leader in providing legal regulatory compliance services in Canada and growing our annual support plan program.”
“BLG’s Investment Management Group is equally excited to welcome Bill to our collective team. Bill is joining AUM Law at a critical juncture for investment management firms – with heightened focus on regulatory compliance and changes in regulatory structure with the pending consolidation of the SROs,” said Prema Thiele, BLG’s National Group Head of Corporate and Capital Markets. “Bill is extremely well-respected across the sector and we are thrilled that he has chosen to join us to help further serve our clients across the country.”
Prior to joining AUM Law, Bill was the Chief Compliance Officer at two major Canadian financial institutions where he oversaw wealth management compliance for both Investment Industry Regulatory Organization of Canada and MFDA channels nationally.
BLG + AUM Law
AUM Law was founded in 2009 with a singular vision and dedicated focus on serving the regulatory compliance needs of registrants in the investment management sector. Our firm name reinforces our focus, being the commonly used industry acronym for “assets under management”.
AUM Law has been part of BLG since May 2021 and is integrating with BLG’s suite of alternative legal services known as BLG Beyond.
AUM Law provides its registrant clients with annual fixed-fee regulatory compliance support plans and related offerings. It provides registrants with an efficient, innovative approach to help manage their legal and regulatory compliance obligations.
Practical Advice · Efficient Service · Fixed-Fee Plans
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For more information, please contact:
Tamara Costa
National Director, Marketing and Communications
Borden Ladner Gervais LLP
TCosta@blg.com
416.350.2642
Jun 30, 2022 | Featured
In this bulletin:
- Conflicts of Interest Rally – Audit Sweep Update
- Summer is Here! And So Are the Amendments to NI 31-109 and NI 33-103
- New Proposed Climate Risk Management Guideline: Will OSFI’s Next Step Be an Ace?
In Brief: CSA Has a Game Plan – 2022-2025 CSA Business Plan ▪ Not Yet Game, Set, Match – Additional OTC Derivatives Proposals ▪ No Interference – IIROC Sets Priorities for 2023 ▪ Got Game? Independent Evaluation of OBSI Released
Important Reminders: Succession Planning – Avoiding No Man’s Land ▪ Don’t Double Fault: F4 Updates and Exempt Trade Reports Take Time
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Wimbledon Edition | June 2022
May 31, 2022 | Featured
In this bulletin:
- Shining a Spotlight on Fees – Total Cost Reporting is Here
- Kicking Off a New Regime – Application for Recognition of New Self-Regulatory Organization
- Investor Protection Funds in the Limelight – Application for Approval of the New Investor Protection Fund
In Brief: Amendments Relating to the Transition for Québec Mutual Fund Dealers to the New SRO – The Plot Thickens ▪ CSA Staff Notice 25-503 – 2021 CSA Annual Activities Report on the Oversight of Self-Regulatory Organizations and Investor Protection Funds – The Show Must Go On ▪ Encouraging Dialogue – FSRA’s New Whistle-Blower Program: Enhanced Protection in the Non-Securities Financial Services and Pensions Sectors
Important Reminders: Modernizing Registration Information Requirements, Clarifying Outside Activity Reporting and Updating Filing Deadlines ▪ Update Your SEDAR Profile – It’s Crunch Time
FAQ Corner: CFR FAQ – The Sequel
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Star Wars Edition | May 2022
Apr 29, 2022 | Featured
In this bulletin:
- A Matter of Time: FSRA Consultation on Licensing Requirements for Mortgage Agents and Brokers
- It’s Still Ongoing – OSC Continues with its Conflict of Interest Focused Reviews
- Improved ESG Disclosure in Scope as CSA Targets Changes to National Instrument 43-101 Standards of Disclosure for Mineral Projects
- Canadian Securities Regulators Reduce Regulatory Burden Related to the Interpretation of the Primary Business Requirements
- OSC Finalizes Statement of Priorities – Going Green
In Brief: Save Those Exemption Requests – IIROC Proposes Amendments Respecting the Codification of Certain UMIR Exemptions ▪ Saving the World One Prospectus at a Time – Proposed Amendments to Implement an Access Equals Delivery Model for Non-Investment Fund Reporting Issuers ▪ Additional Derivatives Proposals Taking Root
Important Reminders: Compliance Checkup – Is your Investment Management Agreement Compliant?
FAQ Corner: Records Retention – Do Firms Need to Keep Documents Forever? ▪ Fixing the Leaks: Common OSC Audit Questions
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Get Ready for Warmer Weather Edition | April 2022
Mar 31, 2022 | Featured
In this bulletin:
- A Matter of Time: FSRA Consultation on Licensing Requirements for Mortgage Agents and Brokers
- FSRA Releases New Approach Guidance for Principles – Based Regulation at All Times
- Make Time for IIROC’s Compliance Priorities Report
- A Devil of a Time: When the Regulatory “Best Interest” Standard is Not a Fiduciary Standard
- Keep Calm, Deal With Complaints and Carry On – 2021 Ombudsman for Banking Services and Investments (OBSI) Annual Report: Investment Highlights
In Brief: Watch Your Titles – Approval of FSRA’s Title Protection Regime
Important Reminders: Is It Summer Already? Reminder Regarding Upcoming Deadlines for Reporting “Other Activities” ▪ Reminder Regarding Timely Preparation and Delivery of Annual CCO Report
FAQ Corner: What Are My KYC Update Requirements Post December 31, 2021, under the Client Focused Reforms?
BLG’s Resource Corner
News & Events
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Daylight Saving Time Debate Edition | March 2022
Feb 28, 2022 | Featured
In this bulletin:
- Everything’s Derivative: Canadian Securities Regulators Adopt Amendments to Derivatives Clearing Rules
- Now You See Me: New Ownership Transparency Requirements for Private Ontario Corporations
- Not Just a Status Update: New AML Requirements Applicable to Portfolio Managers and Dealers
- Cover Me: Recent Proposed Regulatory Reforms to Protect Investors in Insurance Products
In Brief: Sweeps, Sweeps and More Sweeps ▪ CSA Updates its Review on Disclosure Regarding Women on Boards ▪ European Developments – SDR and SRD
FAQ Corner: Investing Clients’ Assets Into Crypto ▪ Preparing Account Statements and Reports on a “Household” Basis ▪ Registered Firm Conducting a Suitability Determination at a “Household” Level
Important Reminders: Reassess Application of “Business Trigger” as Business Activities Change
BLG’s Resource Corner
News and Events
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Hello February! Why So Short? Edition | February 2022
Jan 31, 2022 | Featured
In this bulletin:
- Getting More for Less – OSC Proposes Amendments to Fee Rule
- Third Time Lucky? The Latest on the CSA’s Derivatives Business Conduct Rule
- The CSA Proposes Modernizing Prospectus Filings for Investment Funds
- Wrapped, Tied and Tangled – OSC Consultation on Tied Selling and Other Anti-Competitive Practices in the Capital Markets
- Chim Cher-ee – OSC Product Review Sweep on the Restriction of Sales of Third-Party Investment Products
- My Name Is: Some Slim News on Not-so Shady Titles
- Changes to the Outside Business Activities (OBAs) Framework
- CSA Publishes Amendments to the Rules on Oversight of Foreign Audit Firms Performing Audits of Canadian Public Issuers
In Brief: CSA Releases New Guidance for Funds on ESG-Related Disclosure ▪ Nothing to Complain About – Regulators Propose Additional Amendments Regarding Complaint-Handling Procedures ▪ Blowing the Whistle – FCAC Consults on Proposed Whistleblower Guidelines ▪ CSA’s Proposed Investor Advisory Panel
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Snowy January Edition | January 2022
Nov 30, 2021 | Client-Focused Reforms (CFRs), Featured, Investment Funds, Regulatory Compliance
In this bulletin:
- Ontario’s New Draft Capital Markets Act – Topics of Interest to Registrants
- Déjà vu – Titles, Titles and More Titles – Proposed Amendments to Draft FSRA Guidance
In Brief: FSRA Consults on Consumer Advisory Panel ▪ Independent Evaluation of OBSI ▪ Canadian Companies Appointing More Women to Boards and Executive Roles ▪ CFA Institute Creates Voluntary ESG Disclosure Standards for Investment Products▪ Timeline for the New Self-Regulatory Framework ▪ OSC Releases Proposed Statement of Priorities
Important Reminders: Pre-Registration Activities and Titles – Watch those Names ▪ Check Your Titles Prior to Dec 31, 2021 ▪ Capital Markets Participation Fee – December 1 Filing Deadline ▪ Exempt Trade Reports for Funds Due in January – Don’t Delay; Prepare to File Today
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Winter is Here Edition | November 2021
Oct 29, 2021 | Featured
In this bulletin:
- Investment Fund Burden Reduction Measures – Not a Trick!
- FSRA Publishes 2022-2023 Statement of Priorities for Comment
- CSA Proposes Mandatory Climate Change Disclosure
In Brief: Ontario’s New Draft Capital Markets Act ▪ Proposed Amendments to Derivatives Clearing Rules ▪ FCNB/NSSC Consultation on Diversity in the Capital Markets ▪ FSRA’s Draft Innovation Framework ▪ FCAC Consults on New Complaint-Handling Procedures for Banks
Important Reminders: Calculation for Capital Markets Participation Fees Form due December 1, 2021.
BLG’s Resource Corner
News: PMAC AML Training ▪ BLG Webinar November
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Halloween Edition | October 2021
Sep 30, 2021 | Featured
In this bulletin:
- OSC Publishes its 2021 Annual Report – What you Need to Know
- IIROC Releases Draft Competency Profiles for Directors, Executives, UDPs, CCOs and CFOs
- Québec Consults on the Complaint Handling Process
- CPAB Consults on its Disclosure of Audit Firm Reviews
- A Trusted Contact Person and a POA
In Brief: Canadian Securities Regulators Announce Launch of Refreshed Website ▪ Changes to the Ministry of Finance Requirements for Corporate Dissolutions ▪ NRD Filing Reminders ▪ Minor Amendments to the STCS Guide ▪ FSRA’s Proposed Guidance on Exemption from Mortgage Brokerage License Requirements
FAQ Corner: What Are a Registrant’s Know-Your-Product and Suitability Obligations in Respect of a Client-Directed Trade?
BLG’s Resource Corner
News: PMAC Fall Regulatory and Compliance Webcast – October 21
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Autumn Edition | September 2021
Aug 31, 2021 | Featured
In this bulletin:
- OSC Finalizes 2021-2022 Statement of Priorities
- OSC’s CRR Branch Publishes its Annual Report on Registrants
- CSA Announces Plans to Create a New Self-Regulatory Organization
- Policies and Procedures Change Required – CSA Finalizes Rules Protecting Vulnerable Clients
- Consultation on Strengthening Canada’s External Complaint Handling System in Banking
- Ontario’s Title Protection Framework – Have Your Say on Fees
- Titles, Titles and More Titles: Saskatchewan and New Brunswick Consider Title Protection Regimes
- CSA Proposes a New Prospectus Exemption for Canadian-Listed Issuers
In Brief: Has the OSC Asked You for Documents? OSC Publishes Guidance on Enforcement Investigations and Document Production ▪ CDCC and IIROC Propose Amendments Relating to Futures Segregation and Portability ▪ FSRA Proposes Approach Guidance for Publication of Enforcement Proceedings ▪ CSA Proposes Amendments to Guidance for Financial Statements in Long Form Prospectuses
FAQ Corner: What’s Next for the CFRs? CFR Phase II Checklist
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Heatwave Edition | August 2021
Jun 30, 2021 | Featured
In this bulletin:
- Giving the Green Light to ESG Disclosure – CFA Institute Publishes Draft ESG Disclosure Standards for Investment Products
- Social Media and Market Manipulation
- MFDA’s Initiative on Improving Client Account Transfers – Will CSA Follow Suit?
- Outside Business Activities (OBAs) Reporting Reminder
- What Comes Next: KYC, KYP and Suitability
- Reforms in Even Sharper Focus – IIROC and MFDA Publish Draft CFR Guidance
Important Reminders: AODA’s June 30 Compliance Report Deadline
In Brief: Proposed Amendments to Regulatory Functions of the Bourse de Montreal Inc. ▪ Changes to AML Rules – Effective on June 1, 2021 ▪ Start-Up Crowdfunding Exemptions are Revved up and Ready to Go ▪ Hello, Goodbye – CSA Grants Interim Relief for DSC Sales ▪ New Brunswick Proposes Local Rule Impacting Funds in that Province
FAQ Corner: Non-Qualified Syndicated Mortgage Investments (NQSMIs) by FSRA and the OSC, What Should Firms Operating in this Space Keep in Mind? ▪ What Procedures are Required Before My Firm Can Accept Referred Business from a Third-Party? ▪ Does Claiming Compliance with GIPS Standards Require Third-Party Verification?
BLG’s Resource Corner
News
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Summer – We’re Halfway There! Edition | June 2021
May 31, 2021 | Featured
In this bulletin:
- BLG Transaction – New Beginnings
- All Together Now – OSC Joins DSC Ban
- Titles, Titles and More Titles – Notice of Changes and Request for Further Comment on Financial Professionals Title Protection Rule
Important Reminders: CFR Requirements Reminder ▪ Investment Fund Managers (IFM) Form Deadlines
In Brief: CSA Proposed Amendments to Designated Benchmarks and Benchmark Administrators ▪ CSA Proposed Amendments to NI 14-101 Definitions and Consequential Amendments ▪ IIROC Seeks Expert Views on Its Proposed IIROC Expert Investor Issues Panel ▪ A Summer for Consideration – CSA Proposes Amendments to Continuous Disclosure Obligations and Semi-Annual Reporting for Venture Issuers ▪ To Promote or Not to Promote – Proposed New Disclosure Requirements in BC ▪ Sixth Year Review of Women on Boards and in Executive Officer Positions
FAQ Corner: Can a Registrant Act as a Trustee, Executor, or Under a POA for a Client? When Are Such Activities Reportable as an OBA? ▪ How Often Should a Registered Firm Conduct Ongoing Monitoring of Their Clients’ Accounts for the Purposes of Complying with Their Anti-Money Laundering (AML) Requirements?
BLG’s Resource Corner: BLG’s Client Focused Reforms Communication Series Surging through 2021 to 2022 and More
News: Lexology Awards ▪ AUM Law Presented at PMAC Conference ▪ AUM Law Speaks at Compliance Officers’ Network
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | To the Future and Beyond Edition | May 2021
