Category: Regulatory Compliance
Feb 16, 2024 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
CIRO member dealers are required to provide ongoing training to their Approved Persons concerning securities regulatory requirements, including conflicts of interest, know your client, know your product and suitability determinations. AUM Law provides training...
Feb 8, 2024 | Regulatory Compliance
Dealer compliance departments are always busy and stressed. We can help when you are having difficulty finding the necessary time to devote to day-to-day regulatory compliance matters. We can tackle difficult one-off issues or help fill staffing gaps. Our only focus...
Jan 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Introduction On January 25, 2024 the Canadian Investment Regulatory Organization (CIRO) published its long-awaited Position Paper on the matter of the payment of commissions to a private corporation. Historically, mutual fund dealers have been permitted to pay...
Jan 31, 2024 | Investment Funds, Regulatory Compliance
On January 8, 2024, the Financial Services Regulatory Authority of Ontario (FSRA) launched a public consultation (the Consultation) on a multi-year approach (the Proposed Approach) designed to create more positive outcomes and enhanced protections for vulnerable...
Jan 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On January 11, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Phase 2 of the Rule Consolidation Project (the Project). The aim of the Project is to consolidate the Investment Dealer and Partially Consolidated Rules (IDPC Rules) and...
Jan 31, 2024 | Investment Funds, Regulatory Compliance
On January 10, 2024, the Ontario Securities Commission, in partnership with Ipsos, released the results of a survey of Canadians 50 years and older that identified and addresses the needs of older investors. The survey detailed eight key findings from the survey,...
Jan 31, 2024 | Regulatory Compliance
On January 11, 2024, the CSA published final rules to permit issuers (other than investment fund issuers, i.e. corporate finance issuers) to adopt an access equals delivery model for most prospectuses. The model does not apply to prospectuses for rights, medium-term...
Jan 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Investment Regulatory Organization (CIRO) released proposed amendments to the Universal Market Integrity Rules relating to the reasonable expectation to settle a short sale (Proposed Amendments). UMIR 3.3 would require a seller to have...
Jan 31, 2024 | Investment Funds, Regulatory Compliance
Following a similar process as in Ontario and Saskatchewan (which you can read about here), earlier this month the New Brunswick Financial and Consumer Services Commission (Commission) proposed two rules under the Financial Advisors and Financial Planners Title...
Jan 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
The Canadian Investment Regulatory Organization (CIRO) was recently approved by the Financial Services Regulatory Authority of Ontario (FSRA) as a credentialing body for purposes of the Financial Professionals Title Protection Act, 2019. The designation means that...
Dec 21, 2023 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Investment Funds, Regulatory Compliance
Staff of the Canadian Securities Administrators (the CSA) and the Canadian Investment Regulatory Organization (CIRO) recently published an update to previously published guidance on the Client Focused Reforms – FAQs on the CFRs dated December 6, 2023. In the update,...
Dec 21, 2023 | Investment Funds, Regulatory Compliance
In late November, the Canadian Securities Administrators (the CSA) published a Request for Comment proposing amendments to certain complaint handling provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI...
Dec 21, 2023 | Regulatory Compliance
Earlier this month, the Canadian Securities Administrators (CSA) finalized amendments to National Instrument 24-101 Institutional Trade Matching and Settlement, which we wrote about most recently in our August bulletin here. The amendments facilitate the shortening of...
Dec 21, 2023 | Investment Funds, Regulatory Compliance
The Systemic Risk Committee of the Canadian Securities Administrators recently released results from its second annual systemic risk survey provided to market participants. This year, the survey was completed by 489 investment dealers and portfolio managers between...
Dec 21, 2023 | Investment Funds, Regulatory Compliance
If you haven’t yet turned your mind to your annual exempt trade reports for investment fund issuers, now is the time. As noted in last month’s bulletin, investment funds relying on specified prospectus exemptions under National Instrument 45-106 Prospectus Exemptions...
