Category: Investment Funds
Jul 31, 2023 | Corporate Finance, Investment Funds, Regulatory Compliance
For collective investment vehicles with December 31 year ends, upcoming interim financial statement deadlines should be on your radar. In particular, issuers that rely on the offering memorandum (OM) prospectus exemption in Ontario are subject to new requirements...
Jun 30, 2023 | Investment Funds, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) released for consultation a second set of amendments relating to Rule 2020 – 002 Unfair or Deceptive Acts or Practices Rule (UDAP Rule). The proposed amendments to the UDAP Rule relate to deferred sales...
Jun 30, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Effective January 1, 2023, the New Self-Regulatory Organization of Canada (New SRO) – the amalgamated self-regulatory body formed from the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) – launched...
Jun 30, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On June 13, the Canadian Securities Administrators (CSA) and the Canadian Council of Insurance Regulators (CCIR), with the participation of the Canadian Investment Regulatory Organization (CIRO), discussed the formation of an implementation committee for the new total...
Jun 30, 2023 | Investment Funds, Regulatory Compliance
As we first described in our April 2020 bulletin, securities commissions across the country granted exemptions to certain requirements in National Instrument 24-101 Institutional Trade Matching and Settlement (NI 24-101) to provide for a three-year moratorium on the...
May 31, 2023 | Investment Funds, Regulatory Compliance
In 2021, the Autorité des marchés financiers (AMF) released its 2021-2025 Strategic Plan, which declared the AMF’s four key guiding principles (called orientations in the plan) that will inform its decisions and actions for the four-year period. On April 27, 2023, the...
May 31, 2023 | Investment Funds, Regulatory Compliance
On May 30, 2023, the Ontario Securities Commission’s Investor Advisory Panel (IAP) released its report with respect to its activities in 2022 (the IAP Report). The IAP’s mandate is to solicit and represent the views of investors on the OSC’s policy and rule-making...
Apr 28, 2023 | Investment Funds, Regulatory Compliance
On April 20, 2023, the securities and insurance regulators announced final changes to total cost reporting (TCR) disclosure for investment funds and individual segregated fund contracts. The changes for the securities sector are through amendments to National...
Apr 28, 2023 | Investment Funds, Regulatory Compliance
On an annual basis, the Ontario Securities Commission (OSC) delivers a multi-year business plan addressed to the Minister of Finance, which among other items, includes the OSC’s Statement of Priorities (SoP), which the OSC undertakes as its goals and priorities for...
Apr 28, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
As of January 1, 2023, the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) came together as the New Self-Regulatory Organization of Canada (New SRO). The newly amalgamated organization advised that...
Apr 28, 2023 | Investment Funds, Regulatory Compliance
The CSA released the annual report (Report) summarizing its key activities in 2022 with respect to its oversight of what was then known as the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) and...
Apr 28, 2023 | Investment Funds, Regulatory Compliance
The New Self-Regulatory Organization of Canada (New SRO) has proposed amendments to the Universal Market Integrity Rules (UMIR) and the Investment Dealer and Partially Consolidated Rules (IDPC Rules) to help facilitate the move from a T+2 settlement cycle to a T+1...
Mar 31, 2023 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 8, 2023, staff of the Canadian Securities Administrators (other than Ontario), published revised Multilateral CSA Staff Notice 45-309 (the Notice), first published in 2012, which provides guidance for preparing and filing an offering memorandum (an OM) under...
Mar 31, 2023 | Client-Focused Reforms (CFRs), Investment Funds, Regulatory Compliance
On March 20, 2023, the New Self-Regulatory Organization of Canada (New SRO) published its New SRO Compliance Priorities Report for 2022/2023: Helping Firms with Compliance. The report highlights what the New SRO believes are issues and challenges faced by the...
Mar 31, 2023 | Investment Funds, Regulatory Compliance
As summarized way back in our August, 2021 bulletin, the Financial and Consumer Services Commission of New Brunswick (FCNB) has previously consulted on a framework for the protection of titles used by financial professionals in that province. That consultation ended...
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