Category: Featured
May 31, 2023 | Featured
In this bulletin:
- RegTech 24/7 – OSC Releases First Report on TestLab
- What’s on the AMF’s Agenda this Year? 2023-2024 Annual Statement of Priorities Published
- It’s Business Plan Season – FSRA’s Annual Plan
- BCSC Annual Report Card Illuminates Issues with Conflicts
In Brief: Not a Fee Holiday – FSRA Consults on Fee Rule Once Again ▪ An Extra Long Weekend – SEDAR+ Filing Extensions Granted ▪ OSC Investor Advisor Panel Report Focuses on Citizen (AKA Investor) Protection ▪ Ensuring Your Audits are Regal – FSRA Releases Proposed Guidance for Mortgage Administrators
Reminders: Training Opportunities – Avoid the Fireworks! ▪ Long Live SEDAR+ Onboarding
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | Victoria Day Edition | May 2023
Apr 28, 2023 | Featured
In this bulletin:
- Better Days Ahead: Proposed Amendments Regarding Diversity Disclosure
- AMPed for Spring: FSRA Proposes Guidance on Administrative Monetary Penalties
- FSRA Proposes Guidance to Cut Down Mortgage Fraud
- Three more Sakura Seasons, then Total Cost Reporting will be Required for the Year Ending December 31, 2026
- The OSC’s Egg-cellent Final Statement of Priorities
In Brief: New SRO Blossoms With Its New Name ▪ Busy Bees: FSRA Consumer Advisory Panel Annual Report ▪ Sunny CSA Report on SRO Oversight ▪ Time Flies: New SRO Proposes Amendments for T+1 Settlement
FAQ Corner
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | April Showers Edition | April 2023
Mar 31, 2023 | Featured
In this bulletin:
- Don’t Stay Away too Long – Revised Guidance Published for Issuers Relying on the Offering Memorandum Prospectus Exemption
- Watch that Spring Break Behaviour – OSFI Issues Guideline on Culture and Behaviour Risk
- Eat, Beach, Sleep, Repeat – New SRO Compliance Priorities Report Repeats Importance of Conflict Documentation
- Refreshed and Refocused: Rules Introduced to Support SEDAR+
In Brief: SEDAR+ is Not a Stress Free Zone – Foreign Issuers and Reports of Exempt Distributions ▪ Break’s Over – New OSC Service Commitments ▪ Title Protection Frameworks Ramp Up – No Time for a Breather
BLG’s Resource Corner
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | March Break Edition | March 2023
Feb 28, 2023 | Featured
In this bulletin:
- Taking Care of One Another – New SRO Releases Proposal on Distributing Funds to Harmed Investors
- Conflicts of Interest Requirements – More Than Once Per Year
In Brief: In Sync – Ontario’s Ownership Transparency Obligations Now in Force ▪ A Holiday for Everyone – Temporary Late Fee Exemptions in Ontario ▪ Additional Information on Offering Memorandum Prospectus Exemptions – Getting Everyone Together ▪ Not Just Another Manic Monday – Cessation of CDOR has Implications for Some Registrants ▪ Promises, Promises – CSA Enhances Requirements for Crypto Asset Trading Platforms ▪ Potential Extension of FINTRAC Requirements to the Mortgage Industry – There’s no Place Like Home
Important Reminders: SEDAR+ Will be Here June 13 – Adding to the Family ▪ Reporting Up – CCO Reports for Many Firms Due Soon
BLG’s Resource Corner
News
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | Family Day Edition | February 2023
Jan 31, 2023 | Featured
In this bulletin:
- Changes to Offering Memorandum Prospectus Exemption – Will New Issues be Grounded?
- Ontario’s Exempt Market (But Not Penguins) See Continued Growth
- FSRA Announces Consultation on Proposed Guidance on IT Risk Management – Filtering Out the Salt
- Can’t Stay on an Island – CSA Publishes Amendments Relating to Institutional Trade Matching and Settlement
In Brief: Not All Penguins Are Short: Short Selling in Canada Consultation ▪ Review of IIROC Arbitration Program – No Camouflage ▪ A Little Breathing Room – FSRA Announces Additional Time to Comply with Title Protection Framework in Ontario ▪ All Things Endangered – AMF Proposes DSC Ban for Segregated Funds ▪ Penguins Can’t Complain – AMF Re-Releases Draft Regulation on Complaint Processing
Important Reminders: New Year’s Survey: Investment Fund Managers
BLG’s Resource Corner
News
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | Penguin Awareness Edition | January 2023
Nov 30, 2022 | Featured
In this bulletin:
- OSC Seeks Feedback on 2023-24 Statement of Priorities; It’s Good to Have Goals
- CSA Consults on Access to Real-Time Market Data; No Pain, No Gain
In Brief: Keep Calm and Soccer On; OSC Announces New Fee Rules as of April 2023 (or you Really Do Have to Pay to Play) ▪ Shooting for the Stars – FSRA Proposes to Eliminate DSCs for Segregated Funds ▪ CSA Formally Recognize New SRO and Approve New CIPF; One Team, One Dream
Important Reminders: Upcoming Deadlines and Resources – Fast and Furious
BLG’s Resource Corner
News
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | FIFA World Cup Edition | November 2022
Oct 31, 2022 | Featured
In this bulletin:
- OSC Publishes its 2021-2022 Annual Report – Squad Ghouls
- Hocus Pocus Everyone Focus – Are you CFR-Compliant? Further Update on Regulatory Audits
- What’s Brewing? FSRA Launches Public Consultation on its Proposed 2023-24 Statement of Priorities
- OSC’s Fab-Boo-Lous Summary Report for Investment Fund and Structured Product Issuers
- Thrills and Chills – OSC Releases its Annual Summary Report for Registrants
In Brief: Accredited Investor Exemption Effectively Expanded in Ontario – No Bones About it ▪ A Book a Day Keeps the Monsters Away – IIROC Requests Expressions of Interest for Enhanced Proficiency Regime ▪ CSA Announces Intentions for OBSI – No Tricks
Important Reminders: Spooktacular Annual Fee Payments are Almost Due ▪ Don’t be Frightened – Individual Registrant Form Updates
BLG’s Resource Corner
News
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> AUM Law Bulletin | A Pumpkin a Day Keeps the Goblins Away Edition | October 2022
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
