Category: Investment Funds
Feb 26, 2021 | Investment Funds, Regulatory Compliance
In response to the recently released report by Ontario’s capital markets modernization taskforce containing 70 plus recommendations (summarized in our January bulletin), the Canadian Securities Administrators (CSA), excluding the Ontario Securities Commission (OSC),...
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 | Investment Funds, Regulatory Compliance
On January 28, the Canadian Securities Administrators (CSA) issued temporary blanket relief, which is expected to be codified at a later date. This relief expands the list of courses that allow mutual fund dealing reps to sell liquid alt funds thereby increasing...
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...
Jan 29, 2021 | COVID-19, Investment Funds
Investment fund managers that have obtained approval from the Ontario Securities Commission to self-trustee pooled funds and/or exemptive relief for fund-on-fund structures may have selected fund custodians that meet the requirements of National Instrument 81-102...
Jan 29, 2021 | Corporate Finance, Investment Funds, News, Regulatory Compliance
In our July 2020 Bulletin we reported on the Consultation Report of Ontario’s Capital Markets Modernization Taskforce. On January 22, the Taskforce released its Final Report after engaging with over 110 stakeholders and receiving over 130 stakeholder comment letters...
Jan 29, 2021 | Events, Investment Funds, News
On February 2, AUM Law’s Richard Roskies will participate as a speaker at the InvestorCOM webinar, to discuss Client Focused Reforms and Know Your Product provisions for investment dealers and their representatives. January 29, 2021
Dec 11, 2020 | Investment Funds, Regulatory Compliance
On December 3, the Canadian Securities Administrators (CSA) published Consultation Paper 25-403 Activist Short Selling “to facilitate discussion” about this activity in Canada. As described by the CSA, activist short selling involves an individual or entity that takes...
Dec 11, 2020 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On December 7, the Ontario Securities Commission (OSC) released the final amendments to OSC Rule 45-501 Ontario Prospectus and Registration Exemptions (Amendments). The Amendments are a part of the proposed changes across Canada which, in Ontario, will have as one of...
Dec 11, 2020 | Investment Funds, Regulatory Compliance
In some welcome news for investor advocates, the OSC recently announced that it will provide $3.75 million to FAIR Canada (FAIR), a national charitable organization dedicated to advancing the interests of individual investors. This funding will be provided to FAIR in...
Dec 11, 2020 | COVID-19, Investment Funds, Regulatory Compliance
On November 12, the Ontario Securities Commission (OSC) published OSC Notice 13-708 whereby it informed market participants that after reviewing current fee levels and projected cash flows, it has determined that no changes to OSC Rule 13-502 (Fees) and OSC Rule...
Dec 11, 2020 | Investment Funds, Regulatory Compliance
Earlier this year, the Canadian Securities Administrators proposed amendments that will require registrants to take reasonable steps to obtain the name and contact information of a TCP from their clients, as well as the client’s written consent to contact the TCP in...
Dec 11, 2020 | Investment Funds, News, Regulatory Compliance
Welcome news for International Firms! Currently, certain international firms doing business in Ontario in reliance on statutory registration exemptions must also manually apply for discretionary relief from certain registration requirements in the Commodity Futures...
Dec 11, 2020 | Investment Funds, News, Regulatory Compliance
The Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan are proposing an interesting new prospectus exemption as a three-year pilot project as set out in CSA Multilateral Notice and Request for Comment 45-327 Proposed...
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