Category: Featured
Jan 29, 2021 | Featured
In this bulletin:
- Ontario’s Capital Markets Modernization Taskforce Releases Final Report
- CSA Publishes More FAQ Guidance on the Client-Focused Reforms
- FINTRAC Updates its Guidance on Conducting AML Risk Assessments
- Reviewing Fund Custodian Arrangements
FAQ Corner: Does a pooled fund that invests in an underlying fund require a custodian for the securities of the underlying fund? ▪ Can a portfolio manager or investment fund that is subject to FATCA/CRS due diligence and reporting obligations rely on a dealer or third-party custodian to conduct these activities on its behalf?
In Brief: IOSCO Issues Guidance for Dealing with Aggrieved Investors▪ OSC Issues “Best Practice Guidance” for Prospectus Filings ▪ Regulators Make it Easier for MFDA Reps to Sell Liquid Alt Funds
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | New Year Edition | January 2021
Dec 11, 2020 | Featured
In this bulletin:
- Regulatory Highlights from 2020
- OSC Publishes Corporate Finance Branch Report
- Reminder! Investment Funds Have till January 30 to File Reports of Exempt Distribution
- OSC Seeks Comment on Proposed Priorities for 2021-22
- MFDA and IIROC Publish Proposed CFR Rules
- Two Western Provinces Consult on Innovative Prospectus Exemption
In Brief: Government Proposing Significant Changes to Federal Privacy Legislation ▪ OSC Proposes Eliminating of Routine Exemptive Relief Applications for International Firms ▪ OSC Research Study Offers Suggestions to get Trusted Contact Person Information from Clients ▪ OSC to Leave Fees Alone for Now ▪ Tipster Trio Shares OSC Whistleblower Payout ▪ FAIR Funding ▪ OSC Publishes Final Amendments Regarding Syndicated Mortgages ▪ Activist Short Selling
Late Breaking News: OSC Publishes Report on Exempt Market Activity ▪ CSA Publishes Guidance on Automatic Securities Disposition Plans
News and Events: Check Out Our New Videos ▪ AUM Law Participates in CAASA Webinar
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | 2020 Year-End Edition | December 2020
Oct 30, 2020 | Featured
In this bulletin:
- Reminder: OSC Participation Fee Calculation and Payment
- Ontario Proposes Changes to Business Corporations Act
- CSA Guidance on Client-Focused Reforms – Part 2
- FSRA Publishes 2021-22 Statement of Priorities for Comment
- Kik Back in the News After Settling U.S. Enforcement Proceedings Regarding Its Token Offering
- CSA Provides Guidance to Issuers on Reporting COVID-19 Impact
In Brief: OSC and IIROC Looking for Hot Tips about Abusive Trading ▪ FSB Finalizes Its Cyber Incident Recovery and Response Toolkit
News and Events: PMAC Annual Conference November 17 – See You (Virtually) There! ▪ Year-End AUM Law Bulletin
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Halloween Edition | October 2020
Sep 30, 2020 | Featured
In this bulletin:
- CSA Publishes FAQ Guidance on Client-Focused Reforms
- OSC’s CRR Branch Publishes Its Annual Report on Registrants
- CSA Proposes Changes to Offering Memorandum Prospectus Exemption
- CSA Ban on Certain Trailing Commissions to Take Effect in June 2022
- CSA Publishes Liquidity Risk Management Guidance for IFMs
- Get Your Updated Copy of Mortgage Investment Corporations in a Nutshell
In Brief: FSRA Consults on Service Standards ▪ OSFI Consults on Core Principles for Operational Resilience in a Digital World ▪ FSRA Fines Fortress for Operating without a License
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Roll up Your Sleeves Edition | September 2020
Sep 30, 2020 | Featured, Nutshell Series
Industry participants are re-thinking their business operations as a result of mortgage lenders no longer being able to operate outside of a securities law regime as of March 1, 2021. Many lenders that previously qualified investors on a deal by deal basis in order to avoid having to become registered are now establishing pooled funds to ease the management of a growing investor base and to better compete on investments where other lenders are ready to commit without needing to syndicate a deal. One of the more popular pooled vehicle structures that is being turned to is the mortgage investment corporation (MIC).
In this publication we discuss what to keep in mind when structuring a MIC, such as dealer registration and other obligations, as well as the evolving regulatory framework for syndicated mortgage investments (SMIs).
Aug 31, 2020 | Featured
In this bulletin:
- CSA Finalizes Amendments to Syndicated Mortgages Regime, While OSC and FSRA Publish Local Rules and Guidance for Comment
- FSRA Consults on Rules and Guidance for the Use of Financial Advisor and Financial Planner Titles
- Ontario Consults on on Potential Reforms to Privacy Legislation
- CSA Publishes Research Report on How CRM2 Reforms and Mutual Fund Point-of-Sale Rules Have Affected Investor Knowledge, Attitudes and Behaviour
In Brief: CSA Raises the Bar on Threshold for Business Acquisition Reports ▪ SEC’s Risk Alert on COVID-Related Compliance Risks Is Instructive for Canadian Registrants ▪ Wealthsimple to Test Crypto Asset Trading Platform in CSA’s Sandbox ▪ NASAA Task Force Targets COVID-19 Fraudsters
News and Events: PMAC Fall Regulatory and Compliance Webcast – September 24
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Work from Wherever Edition | August 2020
Jul 31, 2020 | Featured
In this bulletin:
- Ontario’s Capital Markets Modernization Task Force Releases Consultation Report
- CSA Publishes Guidance on Flexible CCO Arrangements
- Watch Out or Wash Out: Coinsquare Executives Learn That Innovation Isn’t a Free Pass to Violate Securities Laws
FAQ: How does a registered firm’s UDP certify their firm’s RAQ responses if the UDP doesn’t have online access to the survey? ▪ Do registered individuals (and applicants for registration) have to disclose offenses they have been charged with, if the matter hasn’t adjudicated yet?
In Brief: Are You Prepared to Deal with Colleagues Experiencing Diminished Capacity? ▪ OSC Issues Interim Prospectus and Registration Exemptions to Facilitate Crowdfunding
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Dive-in Edition | July 2020
Jun 30, 2020 | Featured
In this bulletin:
- CSA Consults on Potential Reforms to SRO Framework
- CSA Members Say They’ve Made It Easier to Register Client Relationship Management Specialists
- Federal Court of Appeal Rules on Constitutionality and Application of Canada’s Anti-Spam Legislation
- OSC Publishes 2020-2021 Statement of Priorities and 2019-2020 Report Card
- IOSCO Consults on Regulatory Measures for Asset Managers’ and Market Intermediaries use of Artificial Intelligence
In Brief: Temporary Relief from Certain Requirements for Registrants and Unregistered Capital Markets Participants Extended ▪ IOSCO Consults on Revised Principles for Outsourcing ▪ CSA Publishes interim Progress Report on Its 2019-2022 Business Plan
News & Events: Correction to Last Month’s Article on PMAC’s Spring Regulatory and Compliance Webcast
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Staycation Edition | June 2020
May 29, 2020 | Featured
In this bulletin:
- The RAQ is Back on Track
- OSC Issues Progress Report on Its Burden Reduction Initiatives
- OSC Staff Share Compliance Program Updates during PMAC’s Spring Regulatory and Compliance Webcast
- FSRA Issues Guidance Concerning Mortgage-Based Investments during Market Disruptions
- IIROC Publishes Its Annual Enforcement Report
- CSA Renews Exemptive Relief from Filing Deadlines for Investment Funds, Other Issuers, Registrants and Certain Other Capital Markets Participants
FAQ Corner: May an associate advising representative work remotely or in a one-person branch office?
In Brief: OSC Takes Enforcement Action against Representative Who Agreed to Serve as Executor for Client’s Will ▪ Issuers’ Undertakings to ASC Highlight the Importance of Effective Controls to Ensure Compliance with Prospectus Exemptions
News & Events: Updated Real Estate and Mortgage Investment Vehicles Publications ▪ AUM Law Speaks at PMAC Spring Regulatory and Compliance Webcast
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Taking Care of Business Edition | May 2020
Apr 30, 2020 | Featured
In this bulletin:
- CSA Extends Deadline to Implement Conflicts-Related Client-Focused Reforms by 6 Months
- CSA and FSRA Extend Timeline for Implementing Changes to Syndicated Mortgages Regime
- Cyber-Security During the COVID-19 Pandemic and Beyond
- Get Ready to Report Suspicious Transactions “As Soon As Practicable”
- OSC Revises Certain Registration Processes as Part of Its Burden Reduction Initiative
FAQ Corner:Can our firm use electronic signatures for subscription documents, investment management agreements and similar agreements with the firm’s clients?
In Brief: OSC Temporarily Waives Late Fees for All Market Participants ▪ CSA Temporarily Increases Short-Term Borrowing Limits for Mutual Funds ▪ OSC Scales Back Its Consultation on Business Priorities ▪ Regulators Plan Three-Year Moratorium on Trade Matching Exception Reporting
News & Events: AUM Law Participates in CAASA Podcast and Webinar ▪ Lexology Awards
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Working from Home Edition | April 2020
Mar 31, 2020 | Featured
In this bulletin:
- You’ve Activated Your Business Continuity Plan. What’s Next?
- CSA and OSC Extend Certain Deadlines for Registrants and Investment Funds and Postpose Certain Initiatives
- FINTRAC Signals Flexibility to Reporting Entities Affected by COVID-19
- CSA Proposes Rules to Address Financial Exploitation of Vulnerable Investors
- IIROC Fines TD Waterhouse $4 Million for Deliberate Non-Compliance with RDI Requirements
- Corporations Canada Seeks Comments on Potential Regulations for Corporate Registers of Individuals with Significant Control
FAQ Corner: In light of the COVID-19 pandemic, what should we do with respect to our suitability determination and “know-your-client” (KYC) obligations?
In Brief: No Jail Time for Mr. Tiffin After All, But His Conviction Stands
News & Events: AUM Law Launched a New Website
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Spring Edition | March 2020
Feb 28, 2020 | Featured
In this bulletin:
- OSC Goes Its Own Way as CSA Finalizes Rule on Embedded Commissions
- If They Build It (Again), Will They Come? The CSA Proposes a Harmonized, Start-up Crowdfunding Regime
- CSA Re-Proposes Rules on Non-GAAP and Other Financial Measures Disclosure
- OPC Consults on Regulation of Artificial Intelligence
- Our Client-Focused Reforms in a Nutshell Publication Is Ready
- SEC Commissioner Pierce Leapfrogs Her Commission with Proposed Safe Harbour for Token Offerings
FAQ Corner: What are some things to watch out for when we describe our firm and its representatives in marketing materials or on social media?
In Brief: Is This the Very Model of a Modern SRO?
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Leap Year Edition | February 2020
Jan 31, 2020 | Client-Focused Reforms (CFRs), Featured, Regulatory Compliance
In this bulletin:
- Client-Focused Reforms: A Closer Look at the Misleading Communications, RDI, Compliance Training and Record-Keeping Rules
- IIROC and FINRA Publish Their Compliance Priorities for 2020
- Get Ready to RAQ and Roll
- IIROC Fines Registered Representative for His Shoulda Woulda Could KYC
- ASC Schools Registrants on Compliance with OM Exemption
- Like Rats in a Maze: Navigating the Application of Securities Laws to Crypto Assets
FAQ Corner: Can an advising representative act as the executor of an estate on behalf of a client?
In Brief: CSA Consults on Access Equals Delivery Model for Disclosure Documents
News and Events: Lexology Recognizes AUM Law Again for Thought Leadership in Our Publications
Click the link to access a PDF of our full, monthly bulletin summarizing these recent developments. >> Monthly Bulletin | Year of the Rat | January 2020
