Category: Mortgage and Real Estate Investment Vehicles
Aug 30, 2024 | Anti-Money Laundering, Counter-Terrorist Financing, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
A friendly reminder to all mortgage administrators, mortgage brokers and mortgage lenders of the upcoming requirement to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) as of October 11, 2024. The requirements include the...
Jul 31, 2024 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Registration, Inspections and Examinations Division of the Ontario Securities Commission (OSC) released its highly anticipated OSC Staff Notice 33-756: Summary Report for Dealers, Advisers and Investment Fund Managers. The report is always a must-read for...
May 30, 2024 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Ontario Securities Commission (OSC) has announced a number of time-limited exemptions from the dealer registration requirements to support capital raising for early-stage Ontario businesses. These initiatives are part of the OSC TestLab Program and include an...
May 30, 2024 | Corporate Finance, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) released its annual risk outlook for 2024 to 2025. Each year, OFSI releases this report, which provides an overview of the current risk environment facing the Canadian financial...
May 30, 2024 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Consumer Advisory Panel (Panel) to the Financial Services Regulatory Authority of Ontario (FSRA) provides advice from a consumer perspective on policy and regulatory matters and initiatives, among other duties. Earlier this month, the Panel released its report for...
Apr 24, 2024 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) recently released its 2024-27 Annual Business Plan (Plan) setting out its core strategy for the next three fiscal years. The Plan incorporates FSRA’s priorities and objectives, risk identification,...
Apr 24, 2024 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) have extended the prospectus exemption available to certain self-certified investors in ASC Blanket Order 45-538 Self-Certified Investor Prospectus...
Mar 28, 2024 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 6, 2024, the Financial Services Regulatory Authority of Ontario (FSRA) released proposed guidance (Proposed Guidance) outlining FSRA’s interpretation of the licensing suitability requirements and FSRA’s approach to assessing an applicant’s suitability to hold...
Feb 29, 2024 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Systemic Risk Committee (SRC) of the Canadian Securities Administrators (CSA) allows staff to review and monitor systemic and emerging risks in the Canadian capital markets. The SRC recently released its report for the first time, identifying their views of...
Nov 30, 2023 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On October 10, 2023, the Financial Services Regulatory Authority of Ontario (FSRA) launched a public consultation on its proposed 2024-2025 Statement of Priorities (SoP) and budget. The objective of the consultation is to obtain feedback from stakeholders, including...
Oct 31, 2023 | Anti-Money Laundering, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
As noted in our June, 2023 bulletin article, the Department of Finance Canada is considering sweeping amendments to Canada’s anti-money laundering and anti-terrorist financing regime (AML/ATF regime) primarily contained in the Proceeds of Crime (Money Laundering) 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...
May 31, 2023 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) has released proposed guidance that speaks to its expectations for mortgage administrators when complying with their financial reporting requirements. Mortgage administrators are already required to have a...
Apr 28, 2023 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 28, 2023, the Financial Services Regulatory Authority of Ontario (FSRA) released updated draft interpretation guidance (the Draft Guidance) that addresses requirements and expectations for FSRA-licensed mortgage brokers, agents, brokerages and administrators...
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...
