Category: Regulatory Compliance
Apr 24, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Introduction On April 11, 2024, the Canadian Investment Regulatory Organization (CIRO) released its three-year Strategic Plan. The Strategic Plan covers the period of April 1, 2024, to March 31, 2027. CIRO’s CEO Andrew Kriegler states, “The Strategic Plan acknowledges...
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 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On April 18, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Phase 3 of its Rule Consolidation Project proposals. The objective of Phase 3 is to adopt rules that are common to the IDPC and MFD Rules and have been assessed as not...
Apr 24, 2024 | Investment Funds, Regulatory Compliance
As first reported in our November 2023 bulletin, the Ontario Securities Commission (OSC) was consulting on new fees applicable to certain dealers. The final amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees have now been published....
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...
Apr 24, 2024 | Investment Funds, Regulatory Compliance
Back in November, 2022 we wrote about CSA Consultation Paper 21-403 Access to Real-Time Market Data, which dealt with concerns about the cost of accessing market data in Canada where there are multiple marketplaces competing for the same securities to trade. The...
Apr 24, 2024 | Regulatory Compliance
Earlier this month, the Financial Services Regulatory Authority of Ontario (FSRA) sent out a notice reminding industry members that the transition period for using the Financial Advisor title (or similar titles) in Ontario has ended. A person is required to have an...
Apr 19, 2024 | Regulatory Compliance
Is your firm preparing for a regulatory examination? Are you ready? Do you want an independent assessment of your compliance program? Our team has extensive experience in preparation, management and remediation of regulatory examinations. You can get ahead of...
Apr 12, 2024 | Anti-Money Laundering, Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
Securities dealers, including CIRO member dealers, are subject to Canada’s anti-money laundering (AML) and anti-terrorist financing (ATF) regime. Securities dealers are required to provide AML training for all staff. AUM Law provides AML/ATF training for front line...
Apr 4, 2024 | Regulatory Compliance
Chief Compliance Officers of securities dealers are regularly confronted with new issues and problems. Sometimes you need help to find a practical solution to an issue, you may need support for a project team, or simply need support to cover a vacancy or busy period....
Mar 28, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
On March 13, 2024, the Canadian Investment Regulatory Organization (CIRO) released its compliance priorities for the year. There is much in the document for CIRO members to note. Dealers need to pay special attention to the emphasis on compliance with the Client...
Mar 28, 2024 | Investment Funds, Regulatory Compliance
The CSA published additional guidance on ESG investment fund disclosure practices on March 7, 2024. CSA Staff Notice 81-334 (Revised) ESG-Related Investment Fund Disclosure (Staff Notice) replaces and augments the guidance published in January 2022. The 2024 guidance...
Mar 28, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Regulatory Compliance
Since the CFRs in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations came into effect the other year, firms have been making serious efforts to meet their enhanced conduct obligations. This includes taking reasonable...
Mar 28, 2024 | Client-Focused Reforms (CFRs), Regulatory Compliance
Registrants are reminded that your basement is not the only thing that may need some spring cleaning – it may be time to dust off the product shelf and review your Know-Your-Product (KYP) documentation to ensure it is up to date. With securities regulators likely...
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...
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