Category: Investment Funds
Sep 27, 2022 | Investment Funds, Regulatory Compliance
In early September, the Canadian Securities Administrators (CSA) began reviewing the sales practices of certain mutual funds, namely those that have a relationship with a registrant to act as a principal distributor of those funds. According to National Instrument...
Sep 27, 2022 | Investment Funds, Regulatory Compliance
In late August, IIROC released the final phase of its multi-year consultation to set base line competency profiles for all of its registration categories. This third phase deals with Supervisors, Traders, Associate Portfolio Managers and Portfolio Managers and...
Aug 17, 2022 | Investment Funds, Regulatory Compliance
On July 7, the Ontario Securities Commission’s independent Investor Advisory Panel (IAP) released its 2021 report outlining its activities for that calendar year. The IAP’s mission is to provide input to the Ontario Securities Commission (OSC) throughout its policy...
Aug 17, 2022 | Investment Funds, Regulatory Compliance
At the end of July, the Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) amended the self-certified investor prospectus exemption that is available in Alberta and Saskatchewan under ASC Blanket Order 45-538...
Aug 17, 2022 | Investment Funds, Regulatory Compliance
The Investment Industry Regulatory Organization of Canada (IIROC) released its annual Enforcement Report (Report) for the fiscal year 2022 (April 1, 2021 to March 31, 2022). The report highlighted IIROC’s commitment to protect clients, namely senior and vulnerable...
Aug 17, 2022 | Investment Funds, Regulatory Compliance
It’s been a year since we wrote about proposed draft regulations under Saskatchewan’s The Financial Planners and Financial Advisors Act. The title protection framework was initially based primarily on Ontario’s title protection framework, requiring approval for...
Jun 30, 2022 | Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
As we reported in our May 2022 Bulletin, the Canadian Securities Administrators (CSA) are consulting on the application to consolidate the Investment Industry Regulatory Organization of Canada (IIROC) with the Mutual Fund Dealers Association of Canada (MFDA) by the...
Jun 30, 2022 | COVID-19, Investment Funds, Regulatory Compliance
On June 13, 2022, the Independent Evaluation of the Ombudsman for Banking Services and Investments (OBSI) [investments mandate] was released. In accordance with its Terms of Reference and a Memorandum of Understanding between the Canadian Securities Administrators...
Jun 30, 2022 | Investment Funds, News, Regulatory Compliance
As referenced in our article above, the amendments to National Instrument 33-109 Registration Information (NI 33-109) are now in force. As a result, any changes required to be made to an individual registrant’s Form 33-109F4 must be done no later than June 6, 2023....
May 31, 2022 | Investment Funds, Regulatory Compliance
As noted in our April bulletin, the Canadian Securities Administrators (CSA) and the Canadian Council of Insurance Regulators (CCIR) released proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI...
May 31, 2022 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) has taken one step closer to realizing on its recommendations to consolidate the two existing self-regulatory organizations (SROs), IIROC and the MFDA, into a single SRO (New SRO) in CSA Staff Notice and Request for Comment...
May 31, 2022 | Investment Funds, Regulatory Compliance
In mid-May, the Canadian Securities Administrators (CSA) released CSA Staff Notice 25-305 Application for Approval of the New Investor Protection Fund. The release of the application is the next step following the recommendations in CSA Position Paper 25-404 to...
May 31, 2022 | Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) has proposed a Regulation to amend Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations to set out transitional provisions to ensure that mutual fund dealers registered in...
May 31, 2022 | Client-Focused Reforms (CFRs), COVID-19, Investment Funds, Regulatory Compliance
Despite the impending consolidation of IIROC and the MFDA discussed earlier in this bulletin, staff of the Canadian Securities Administrators (CSA) are required to assess both self-regulatory organizations (SROs) and their respective investor protection funds (IPFs)...
Apr 29, 2022 | Investment Funds, Regulatory Compliance
Canada has a long and storied mining heritage and continues to be a global leader for mineral investment. However, since the last 2011 amendment to National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) (the governing set of rules on the...
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