Category: Regulatory Compliance
Oct 31, 2024 | Investment Funds, Regulatory Compliance
The Ontario Securities Commission (OSC) has released an interesting discussion paper with respect to a potential new type of public investment fund that could hold long-term assets. In Consultation Paper 81-737 Opportunity to Improve Retail Investor Access to...
Oct 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On October 17, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Phase 4 of its Rule Consolidation Project proposal (Proposal) relating to the consolidation of the two sets of rules currently applicable to investment dealers and mutual...
Oct 31, 2024 | Investment Funds, Regulatory Compliance
Last month, the Ontario Securities Commission (OSC) released a report on research performed in conjunction with the Behavioral Insights Team (the BIT) into the role that artificial intelligence (AI) plays in supporting retail investor decision making. The OSC then...
Oct 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Earlier this month, CIRO released an Amendment regarding individual Approved Person proficiencies. The purpose of the amendment is to eliminate a conflict between National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and...
Oct 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On October 10, 2024, CIRO released Enhanced Cost Reporting – Proposed Rule Amendments. These amendments seek to harmonize CIRO member investment dealer and mutual fund dealer cost reporting requirements with the Total Cost Reporting Enhancements recently introduced in...
Oct 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
For a second time, CIRO recently released for comment its proposal regarding Distributing Funds Disgorged and Collected through CIRO Disciplinary Proceedings to Harmed Investors (Phase II) (Proposal). Responses to comments made on the original February 2023 proposal...
Oct 31, 2024 | Corporate Finance, Investment Funds, Regulatory Compliance
Earlier this month, the OSC released a report entitled Insights on the OSC Staff’s Approach to Sustainable Finance (the Report). Under the three main pillars of (i) investor protection and thriving capital markets; (ii) thought leadership; and (iii) anticipating...
Oct 31, 2024 | Corporate Finance, Investment Funds, Regulatory Compliance
The Ombudsman for Banking Services and Investments (OBSI) released a consultation relating to its approach to calculating investor loses where there has been an unsuitable sale of illiquid exempt market securities. The consultation reviews OBSI’s fundamental approach...
Sep 27, 2024 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) recently released proposals to modernize the continuous disclosure regime for investment funds, which is intended to improve the quality of disclosure provided to investors as well as reduce unnecessary regulatory burden of...
Sep 27, 2024 | FAQs, Investment Funds, Regulatory Compliance
On September 12, 2024, the Canadian Securities Administrators (CSA) published a list of answers to frequently asked questions (FAQs) they have received about National Instrument 93-101 Derivatives: Business Conduct (NI 93-101), in force on September 28, 2024. The CSA...
Sep 27, 2024 | Regulatory Compliance
Earlier this month, the Ontario Securities Commission (OSC) released a report on research performed in conjunction with the Behavioral Insights Team (BIT) into the role that artificial intelligence (AI) plays in supporting retail investor decision making. The...
Sep 27, 2024 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
On September 19, 2024, the Canadian Investment Regulatory Organization (CIRO) released its Annual Report for 2023-2024 (the Annual Report), alongside the inaugural Investor Advisory Panel (IAP) Annual Report (the IAP Report). These reports provide a comprehensive...
Sep 27, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On September 12, 2024, CIRO released a Rule Consolidation Project Update, providing very useful information on the project status, comment period participation and decisions made to date by CIRO. Of note, rather than wait until the completion of the project, CIRO...
Sep 27, 2024 | Regulatory Compliance
A firm may want to surrender its securities registration in one or more categories in Ontario for a variety of reasons, usually when it ceases or intends to cease conducting registerable activities. The surrender will not be accepted until the registrant can...
Aug 30, 2024 | Regulatory Compliance
The Ontario Securities Commission (OSC) has published a notice and request for comment on several proposed rules that will establish a process to distribute money received by the OSC under disgorgement orders to harmed investors, primarily in Proposed OSC Rule 11-502...
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