Category: Regulatory Compliance
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 | Regulatory Compliance
On June 29, 2022 the Canadian Securities Administrators (CSA) issued its fiscal year 2021-2022 Enforcement Report (Report), for the year ended March 31. The Report indicates an increased attention being applied by the Canadian securities regulators on the crypto-asset...
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...
Aug 17, 2022 | Corporate Finance, Corporate Law, Regulatory Compliance
The Department of Finance Canada is currently consulting on proposed changes to the governance framework for federally regulated financial institutions (FRFIs) to reflect changes that have been made to corporate legislation regarding diversity requirements, as well as...
Aug 17, 2022 | Regulatory Compliance
In mid July, the Canadian Securities Administrators (CSA) announced that they have established its new, much anticipated Investor Advisory Panel (IAP) which was first publicized in 2021. The IAP is intended to provide awareness of the interests of retail investors’...
Aug 17, 2022 | Regulatory Compliance
Faithful bulletin readers will recall our prior articles regarding the proposed derivatives business conduct rules, most recently released in January for the third round of comments in Proposed National Instrument 93-101 Derivatives: Business Conduct and Proposed...
Aug 17, 2022 | Corporate Finance, Cyber-security and Data Privacy, Regulatory Compliance
The Office of the Superintendent of Financial Institutions (OSFI) has released its final Guideline B-13 Technology and Cyber Risk Management, which sets out OSFI’s expectations for federally regulated financial institutions (FRFIs) with respect to how they should...
Aug 17, 2022 | Events, News, Regulatory Compliance
On September 7, AUM Law’s Bill Donegan will participate as a speaker at the TSAM Toronto panel on investment operations and optimizing compliance. August 16, 2022
Jun 30, 2022 | Client-Focused Reforms (CFRs), Regulatory Compliance
As you may know, many of the provincial regulators including staff at the Ontario Securities Commission (OSC), are currently conducting a wide sweep of registrant firms. This sweep is meant to review how the industry has adapted to and applied the conflict of interest...
Jun 30, 2022 | Client-Focused Reforms (CFRs), Regulatory Compliance
Identifying OAs: Regulators have been busy with the implementation of the client focused reforms (CFRs) and the recent amendments to National Instrument 33-109 Registration Information (NI 33-109) and National Instrument 31-103 Registration Requirements, Exemptions...
Jun 30, 2022 | Regulatory Compliance
On May 26, 2022, the Office of the Superintendent of Financial Institutions (OSFI) issued a draft version of Guideline B-15: Climate Risk Management (Guideline). The Guideline represents the latest in a series of developments that demonstrate OSFI’s forward-looking...
Jun 30, 2022 | Regulatory Compliance
The Canadian Securities Administrators (CSA) released its 2022-2025 Business Plan on June 27, 2022. As noted in the message from the new CSA Chair, Stan Magidson, the plan sets out six strategic goals which focus on investor confidence in the Canadian capital markets...
Jun 30, 2022 | Regulatory Compliance
The Ontario Securities Commission (OSC) released a request for comment on June 9th relating to derivatives data reporting requirements in OSC Notice and Request for Comment – Proposed Amendments to OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (and...
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...