Category: Investment Funds
Sep 28, 2023 | Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
This month, the Canadian Securities Administrators (CSA) released its ‘Year in Review’ which summarizes the activities of the provincial and territorial regulators over the past year (July 1, 2022 – June 30, 2023) (the Report). The Report outlines the CSA’s strategic...
Sep 28, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
National Instrument 81-104 Alternative Mutual Funds (NI 81-104) has been repealed by all members of the Canadian Securities Administrators (CSA), except the Autorité des marchés financiers. Only Part 4 of NI 81-104 had been in force, and it dealt with proficiency...
Sep 28, 2023 | Investment Funds, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) has released its final fee rule in Rule 2022-001 Assessments and Fees. This new rule allows FSRA to assess and collect fees, and is intended to ensure the fees reflect the regulatory efforts required to...
Sep 28, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
In late August, the Canadian Investment Regulatory Organization (CIRO) released Bulletin 23-0096 Proposed Clarifying Amendments to Registration and Proficiency Requirements. The proposed amendments are intended to clarify the proficiency requirements following the...
Sep 28, 2023 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) have released proposed amendments to National Instrument 44-102 Shelf Distributions and its Companion Policy, as well as National Policy 11-202 Process for Prospectus Reviews in Multiple Jurisdictions. The amendments...
Sep 28, 2023 | Investment Funds, Regulatory Compliance
Registrants in Ontario should have already received an email directly from the Ontario Securities Commission (OSC) reminding them of the changes in the deadlines to file 2023 Fee Forms and pay applicable capital markets participation fees. Along with all firms...
Aug 31, 2023 | Investment Funds, Regulatory Compliance
On August 10, the Canadian Securities Administrators (CSA) announced that it will be reviewing exchange-traded funds (ETFs) in Canada, noting that ETFs make up almost 15% of the assets invested in publicly offered investment funds nationwide. The CSA will examine if...
Aug 31, 2023 | Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Securities Administrators (CSA) released Staff Notice 24-319 that outlines their position and recommendations for the T+1 trade matching deadline to be included in National Instrument 24-101 Institutional Trade Matching and Settlement....
Aug 31, 2023 | Investment Funds, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) opened a short consultation late last month on proposed guidance respecting Public Warning Notices relating to unlicensed activity and other improper activity relating to FSRA regulated products and...
Jul 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On July 27, 2023, the Ontario Securities Commission (OSC) released its annual report outlining the work staff conducted in 2022/23 (to date). The report has four parts, outlining the OSC’s (i) education and outreach to registrants; (ii) regulatory oversight activities...
Jul 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
The Canadian Investment Regulatory Organization (CIRO) has released a consultation paper that should be reviewed by every dealer member of the self-regulatory organization. CIRO’s proposed new proficiency model represents a significant change from current requirements...
Jul 31, 2023 | Client-Focused Reforms (CFRs), Corporate Finance, Investment Funds, Regulatory Compliance
On June 21, 2023, the Alberta Securities Commission (ASC) released its 2023 Annual Report, detailing its achievements in the final year of its F2021-2023 three-year strategic plan. The ASC highlighted its active participation in the crypto regulation space, its...
Jul 31, 2023 | Investment Funds, Regulatory Compliance
The Manitoba government has joined Québec, Ontario, Saskatchewan and New Brunswick in considering or implementing legislation respecting the use of the titles “financial planner” and “financial advisor”. Title protection legislation in the province would prohibit the...
Jul 31, 2023 | Investment Funds, Regulatory Compliance
As we first mentioned approximately two years ago, a number of the securities regulatory authorities, including the Ontario Securities Commission, proposed changes to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators, and its Companion...
Jul 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On July 13, the Canadian Investment Regulatory Organization (CIRO) released for the third time proposed amendments to modernize and simplify its derivatives related requirements. One of CIRO’s predecessor organizations, IIROC, initially published proposed amendments...
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