Category: Regulatory Compliance
Feb 28, 2022 | FAQs, Regulatory Compliance
Answer: Registered firms sometimes ask us if they can provide account statements and reports on a household basis to families where multiple family members are clients of the firm. According to regulatory guidance, the answer is a qualified yes, but… registered firms...
Feb 28, 2022 | Regulatory Compliance
Trading or advising in securities for a business purpose triggers the requirement to register as a dealer or adviser unless an exemption is available. Many of our readers are familiar with the concept of the “business trigger” for registration, which is described in...
Jan 31, 2022 | Investment Funds, Regulatory Compliance
As the capital markets continue to evolve, the Ontario Securities Commission (the OSC) and its regulatory priorities have to change with them. The OSC charges market participants two types of fees: participation fees, which serve as a proxy for use of the Ontario...
Jan 31, 2022 | Investment Funds, Regulatory Compliance
On January 20, the Canadian Securities Administrators (the CSA) published CSA Notice and Third Request for Comments on Derivatives Business Conduct (the Notice), the CSA’s draft publication setting out rules intended to better protect OTC derivatives market...
Jan 31, 2022 | Investment Funds, Regulatory Compliance
On January 27, the Canadian Securities Administrators (the CSA) published CSA Notice and Request for Comment – Proposed Amendments to National Instrument 41-101 General Prospectus Requirements, National Instrument 81-101 Mutual Funds Prospectus Disclosure, and Related...
Jan 31, 2022 | Corporate Finance, Investment Funds, News, Regulatory Compliance
On November 19, 2021, the Honourable Peter Bethlenfalvy, Minister of Finance of Ontario, requested that the Ontario Securities Commission (the OSC) undertake an analysis of questions regarding the practice of tied selling raised by the Capital Markets Modernization...
Jan 31, 2022 | Client-Focused Reforms (CFRs), Corporate Finance, Investment Funds, Regulatory Compliance
Related to OSC Staff Notice 33-753 OSC Consultation on Tied Selling and Other Anti-Competitive Practices in the Capital Markets, on December 7 the Ontario Securities Commission (the OSC) commenced a desk review, also known as the OSC Product Review Sweep (the Sweep),...
Jan 31, 2022 | Regulatory Compliance
As reported in our November 2021 Bulletin, the CSA’s rules on titles for registered individuals who interact with clients changed effective December 31, 2021 as part of the client-focused reforms to National Instrument 31-103 Registration Requirements, Exemptions and...
Jan 31, 2022 | Regulatory Compliance
On December 16, 2021, the Canadian Securities Administrators (the CSA) announced that amendments to legislation clarifying the “Outside Activity” (OA) reporting framework and modernizing registration information requirements (the Amendments), have been finalized and...
Jan 31, 2022 | Corporate Finance, Regulatory Compliance
On January 13, 2022, the Canadian Securities Administrators (the CSA) published CSA Notice of Publication – Amendments to National Instrument 52-108 Auditor Oversight (the Notice), containing the final amendments introducing new rules intended to regulate the conduct...
Jan 31, 2022 | Investment Funds, Regulatory Compliance
On January 19, 2022, the Canadian Securities Administrators (the CSA) released Staff Notice 81-334 ESG-Related Investment Fund Disclosure, which provides guidance on the disclosure practices of investment funds as they relate to environmental, social and governance...
Jan 31, 2022 | Regulatory Compliance
Regulators continue to review best practices relating to complaint-handling procedures. On January 13, the Investment Industry Regulatory Organization of Canada (IIROC) released proposed amendments respecting reporting, internal investigations and client complaint...
Jan 31, 2022 | Regulatory Compliance
While not directly impacting all registrants, it is interesting to note that the Financial Consumer Agency of Canada (the FCAC) is consulting on the Proposed Guideline on Whistleblowing Policies and Procedures for Banks and Authorized Foreign Banks which sets out its...
Jan 31, 2022 | Regulatory Compliance
The CSA released Staff Notice and Request for Comment 11-343 Proposal to Establish a CSA Investor Advisory Panel, to obtain the views of retail investors more formally and methodically through a pan-Canadian panel. The panel is intended to include a diverse range of...
Nov 30, 2021 | Client-Focused Reforms (CFRs), Featured, Investment Funds, Regulatory Compliance
In this bulletin: Ontario’s New Draft Capital Markets Act – Topics of Interest to Registrants Déjà vu – Titles, Titles and More Titles – Proposed Amendments to Draft FSRA Guidance In Brief: FSRA Consults on Consumer Advisory Panel ▪ Independent Evaluation of OBSI ▪...
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