Category: Investment Funds
Aug 30, 2024 | Investment Funds, Regulatory Compliance
In late June, the Canadian Securities Administrators (CSA) published the 2024 CSA Investor Index (Index). This is the sixth iteration of the Index, with the previous version published a little while ago in 2020. The long-running survey is designed to track certain key...
Aug 30, 2024 | Investment Funds, Regulatory Compliance
In Québec, the Regulation respecting complaint processing and dispute resolution in the financial sector (the Regulation) comes into effect on July 1, 2025. This regulation follows the consultation that the Autorité des marchés financiers (AMF) conducted in November...
Aug 30, 2024 | Investment Funds, Regulatory Compliance
The new Multilateral Instrument 93-101 Derivatives: Business Conduct (MI 93-101) and its related companion policy come into force shortly on September 28, 2024. MI 93-101 will have a direct impact on firms that advise or deal in over-the-counter derivatives (OTC...
Aug 30, 2024 | Investment Funds, Regulatory Compliance
This year, the annual filings for Form 13-502F4 Capital Markets Participation Fee Calculation are due by November 1, 2024. The form must be completed by firms registered under either or both the Securities Act (Ontario) and the Commodity Futures Act (Ontario), as well...
Aug 27, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On July 4, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Rule Amendments which include significant changes to the proficiencies required for every registered position in an investment dealer. Fundamentally, the proposed changes...
Jul 31, 2024 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Registration, Inspections and Examinations Division of the Ontario Securities Commission (OSC) released its highly anticipated OSC Staff Notice 33-756: Summary Report for Dealers, Advisers and Investment Fund Managers. The report is always a must-read for...
Jul 31, 2024 | Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Securities Administrators (CSA) released the 2023-2024 Year in Review, which among other things discusses achievements against the six strategic goals set out in its 2022-2025 Business Plan. The review runs through a variety of CSA...
Jul 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Investment Regulatory Organization (CIRO) released for comment proposed amendments to its proficiency rules, which would apply to Approved Persons of investment dealers. CIRO’s proposed model would shift from a course centric model...
Jul 31, 2024 | Investment Funds, Regulatory Compliance
In its recently released annual report, the Alberta Securities Commission (ASC) discusses the completion of the first fiscal year under its new three-year strategic plan. The three pillars of the strategic plan remain intelligent regulation aimed at fostering a...
Jul 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
The Canadian Investment Regulatory Organization (CIRO) recently released a bulletin setting out its priority report, describing CIRO’s focus for the 2025 fiscal year (running from April 2024 – March 2025). For this fiscal year, CIRO is focused on three key areas:...
Jul 31, 2024 | Investment Funds, Regulatory Compliance
On July 25, the Canadian Securities Administrators (CSA) announced specific temporary exemptions from various obligations in National Instrument 93-101 Derivatives: Business Conduct (NI 93-101) which comes into force on September 28, 2024. As a reminder, the new rule...
Jul 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
In the most recent 2023-2024 Enforcement Report, the Canadian Investment Regulatory Organization (CIRO) describes recent changes to enforcement policies as well as notable case highlights. The report begins with a description of the new harmonized Sanction Guidelines...
Jun 27, 2024 | Investment Funds, Regulatory Compliance
On June 20, 2024, Canadian securities regulators from Ontario, Québec, British Columbia, Saskatchewan, Alberta and Nova Scotia announced an initiative to support capital-raising by early-stage businesses by allowing exempt market dealers (EMDs) to participate as...
Jun 27, 2024 | Investment Funds, Regulatory Compliance
On May 27, 2024, the Financial Services Regulatory Authority of Ontario (FSRA) launched a public consultation on its new proposed rules that will affect all insurers that offer customers individual variable insurance contracts (also known as individual segregated...
Jun 27, 2024 | Client-Focused Reforms (CFRs), Investment Funds, Regulatory Compliance
Earlier this month, the Ontario Securities Commission’s Investor Advisory Panel (the Panel) released its annual report. The Panel is an advisory committee to the OSC, that represents the views of retail investors on policy and rule-making initiatives. Among other...
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