Jun 30, 2022 | Regulatory Compliance
What would happen to your firm and clients in the event your registered individuals are no longer able to perform their registerable duties? That is a question that is top of mind for regulators and one which staff is likely to ask about in the course of a regulatory...
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)...
May 31, 2022 | Regulatory Compliance
Recent amendments to the Financial Services Regulatory Authority of Ontario Act, 2016 (FSRA Act), effective April 29, 2022, marks the Financial Services Regulatory Authority of Ontario’s (FSRA) ongoing efforts to help identify misconduct in the non-securities...
May 31, 2022 | Regulatory Compliance
A friendly reminder that amendments to legislation clarifying the “Outside Activity” (OA) reporting framework and modernizing registration information requirements will be coming into force on June 6, 2022. These amendments are meant to establish a more efficient...
May 31, 2022 | Regulatory Compliance
As the Canadian Securities Administrators (CSA) continue to work toward SEDAR+ as its new filing portal – now scheduled to be implemented in February 2023 – companies and fund groups with an existing SEDAR profile are asked to ensure that all profile...
May 31, 2022 | Client-Focused Reforms (CFRs), FAQs, Regulatory Compliance
Since the enhancements introduced as part of the Client Focused Reforms (CFR) came into force in 2021, the Canadian Securities Administrators (CSA) has been providing the industry with additional guidance by publishing an FAQ with a few updated responses to questions...
Apr 29, 2022 | Client-Focused Reforms (CFRs), Regulatory Compliance
In early March, a number of registrants were selected by staff at the Ontario Securities Commission (OSC) to undergo a focused review on their conflict of interest policies and procedures. The OSC is searching for information on how firms have operationalized the...
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...
Apr 29, 2022 | Investment Funds, Regulatory Compliance
On April 12, the Canadian Securities Administrators (CSA) published final changes to harmonize the interpretation of the financial statement requirements for a long form prospectus, such as in an issuer’s initial public offering. The changes come in the form of...
Apr 29, 2022 | Investment Funds, Regulatory Compliance
In our November bulletin we wrote about the Ontario Securities Commission (OSC) draft Statement of Priorities (SoP), which helps inform its business planning for the year ended March 21, 2023. The 2022-2023 SoP has now been finalized, setting out the OSC’s four...