Category: Investment Funds
Jun 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On June 23, the CSA announced the final publication of National Instrument 45-110 Start-Up Crowdfunding Registration and Prospectus Exemptions (NI 45-110), along with CSA Staff Notice 45-329 Guidance for using the start-up crowdfunding registration and prospectus...
Jun 30, 2021 | Investment Funds, Regulatory Compliance
A friendly reminder that Ontario businesses with 20 or more employees must file a prescribed Accessibility Compliance Report due today, June 30, 2021. The purpose of the Report is to determine compliance with the accessibility requirements of the Accessibility for...
Jun 30, 2021 | Investment Funds, Regulatory Compliance
On June 4, 2021, the Mutual Fund Dealers Association of Canada (MFDA) published Account Transfers – Summary of Comments (Bulletin), summarizing the comments that the self-regulatory organization received in response to MFDA Consultation Paper on Account Transfers...
Jun 30, 2021 | Investment Funds, News, Regulatory Compliance
On May 19, CFA Institute published its Exposure Draft of ESG Disclosure Standards for Investment Products (the Exposure Draft). The draft is the second proposed version of standards (the Standards) on principles, requirements and recommendations in connection with the...
May 31, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On May 20, the CSA proposed amendments to NI 51-102 Continuous Disclosure Obligations in order to streamline and clarify continuous disclosure requirements for reporting issuers other than investment funds. The proposed amendments would include consolidating the...
May 31, 2021 | Investment Funds, Regulatory Compliance
IIROC is currently seeking input into a proposed framework for its new Expert Investor Issues Panel, including with respect to the panel’s creation, structure, and operation. The panel is intended to enhance IIROC’s current robust investor outreach efforts and help it...
May 31, 2021 | Investment Funds, Regulatory Compliance
Certain of the securities regulatory authorities are proposing changes to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators to provide for a securities regulatory regime for commodity benchmarks and administrators. MI 25-102, which was...
May 31, 2021 | Investment Funds
For clients who are registered as investment fund managers, a friendly reminder that your initial investment funds survey responses are due on May 31. Additionally, your completed fund data spreadsheet will be due on July 30. Please contact us if you have any...
May 31, 2021 | Investment Funds, News, Regulatory Compliance
On May 7 the Ontario Securities Commission (OSC) announced that it will join in on the ban on deferred sales charge (DSC) sales of mutual funds, which the rest of the Canadian Securities Administrators (CSA) announced in February 2020. The ban is expected to be...
Apr 30, 2021 | Investment Funds, News, Regulatory Compliance
On March 31, 2021, the Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan adopted, on an interim, three-year basis, a new prospectus exemption entitled the Self-Certified Investor Prospectus Exemption, as outlined in...
Apr 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
The Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan have proposed a new prospectus exemption to assist small businesses in Alberta and Saskatchewan to raise up to $5 million from investors in those provinces, based on a...
Apr 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
The Alberta Securities Commission is continuing to explore unique exemptions to revitalize Alberta’s capital markets and assist small businesses to raise capital efficiently while balancing investor protection. The proposed new blanket order would provide an exemption...
Apr 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
The Supreme Court of British Columbia has confirmed that monetary penalties and disgorgement orders from regulatory proceedings are exempt from a bankruptcy discharge. In 2015, the British Columbia Securities Commission ordered Thalbinder Singh Poonian and Shailu...
Apr 30, 2021 | Investment Funds, Regulatory Compliance
On March 18, 2021, the Court of Appeal for Ontario ruled that a malicious prosecution lawsuit against the Ontario Securities Commission and three of its employees can proceed. One of the appellants in the case, Mr. Sam Qin, and various entities he controlled, were...
Apr 30, 2021 | Corporate Finance, Investment Funds, News, Regulatory Compliance
In January 2021, the Capital Markets Modernization Taskforce published its final report after completing its review of the status of Ontario’s capital markets. In its most recent provincial budget, the Government of Ontario indicated that it will proceed with certain...
