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 ▪...
Nov 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
In the previous issue of our bulletin, we provided a high level report on the new draft Capital Markets Act (Act) released by the Ontario Ministry of Finance (Finance) on October 12, 2021. In this issue, we highlight some of the provisions of the Act, together with...
Nov 30, 2021 | Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) has released additional proposed changes to its draft Financial Professionals Title Protection (FPTP) Application Guidance, which describes its approach to the administration of applications for...
Nov 30, 2021 | Regulatory Compliance
The Financial Services Regulatory Authority of Ontario’s (FSRA’s) Consumer Advisory Panel provides input to FSRA on its regulatory activities from a consumer perspective through FSRA’s Consumer Office. The Panel’s mandate includes providing input on FSRA’s statement...
Nov 30, 2021 | Investment Funds, Regulatory Compliance
Professor Poonam Puri has been appointed by the board of The Ombudsman for Banking Services and Investments (OBSI) to undertake an independent evaluation of OBSI’s operations. As the evaluation includes input from stakeholders, two requests for comment have been...
Nov 30, 2021 | Regulatory Compliance
On November 4, 2021, the Canadian Securities Administrators (CSA) published CSA Multilateral Staff Notice 58-313, its seventh annual review of disclosures relating to women in board and executive roles at reporting issuers (the Report). The Report reviewed the...
Nov 30, 2021 | Investment Funds, Regulatory Compliance
On November 1, 2021, CFA Institute issued its Global Environmental, Social and Governance (ESG) Disclosure Standards for Investment Products (Standards). The Standards are the first voluntary global standards designed to report on how an investment product considers...
Nov 30, 2021 | Investment Funds, Regulatory Compliance
On November 18, 2021 the Canadian Securities Administrators (CSA) issued a news release announcing progress on the creation of a new self-regulatory organization (SRO) for the investment industry and a new investor protection fund (IPF). The new SRO will consolidate...
Nov 30, 2021 | Regulatory Compliance
On November 18, the Ontario Securities Commission (OSC) published OSC Notice 11-794 Statement of Priorities seeking comment on its draft 2022-2023 Statement of Priorities (SoP) to inform its business planning for the fiscal year ending on March 31, 2023. The OSC has...
