Category: Investment Funds
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...
Feb 28, 2023 | Investment Funds, Regulatory Compliance
The New Self-Regulatory Organization of Canada (New SRO) released a consultation earlier this month with respect to distributing disgorged funds, entitled the Proposal on Distributing Funds Disgorged and Collected through New SRO Disciplinary Proceedings to Harmed...
Feb 28, 2023 | Investment Funds, Regulatory Compliance
On February 23, 2023, the Canadian Securities Administrators released Staff Notice 25-309 Matters Relating to Cessation of CDOR and Expected Cessation of Bankers’ Acceptances (the CDOR Staff Notice). The information in the CDOR Staff Notice is helpful to market...
Jan 31, 2023 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On December 8, 2022, the Canadian Securities Administrators (CSA) published amendments (the Amendments) to National Instrument 45-106 Prospectus Exemptions relating to the offering memorandum (OM) prospectus exemption (the OM Exemption). The Amendments will impose...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) recently published for comment proposed amendments to National Instrument 24-101 Institutional Trade Matching and Settlement (NI 24-101). The proposed amendments would allow for the shortening of the standard settlement...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) and IIROC (as it was then known) released Joint CSA and IIROC Staff Notice 23-329: Short Selling in Canada (Staff Notice).The Staff Notice states that the CSA and IIROC believe it is time to review the regulatory framework,...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
IIROC released a consultation paper in December regarding its arbitration program, which was last reviewed in 2011. The program requires investment dealers to participate in binding arbitration to settle disputes upon the request of a client. The consultation is a...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) announced in December that it was giving industry participants that use the title of “financial advisor” or “financial planner” more time to comply with its Financial Professionals Title Protection...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) recently released a draft regulation that would prohibit the use of deferred sales charges when withdrawing or transferring funds from or changing purchase options in an individual variable insurance contract relating to a...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) released another draft regulation relating to complaint handling, which is being published for comment for the second time. The draft regulation respecting complaint processing and dispute resolution in the financial sector is...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
By the time you are reading this reminder, investment fund managers registered in Ontario will have received the 2023 Investment Fund Survey from the Ontario Securities Commission (OSC). As stated by staff, access to the data requested will allow them to proactively...
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