Category: Regulatory Compliance
Oct 31, 2023 | Investment Funds, Regulatory Compliance
Earlier this month on October 5th, the Ontario Securities Commission (OSC) released Rule 33-509 Exemption from Underwriting Conflicts Disclosure Requirements. Provided the rule is approved by the Minister of Finance, it will provide an exemption from the requirement...
Oct 31, 2023 | Corporate Finance, Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) have indicated they are not immediately moving forward with proposed amendments to modernize the continuous disclosure requirements for non-investment fund reporting issuers. These proposed amendments, published for comment...
Oct 31, 2023 | Investment Funds, Regulatory Compliance
As per our reminder last month, if you are a firm registered in Ontario under the Securities Act or the Commodity Futures Act, or relying on international exemptions from the registration requirements, be sure to file your 2023 fee forms and pay the applicable capital...
Sep 28, 2023 | Client-Focused Reforms (CFRs), Investment Funds, Regulatory Compliance
On September 13, 2023, the Ontario Securities Commission (OSC) published Staff Notice 81-734 Summary Report for Investment Fund and Structured Product Issuers (the IFM Report). The IFM Report provides an overview of the key operational and policy initiatives of the...
Sep 28, 2023 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Regulatory Compliance
Since the implementation of the Client Focused Reforms (CFRs), the Canadian Securities Administrators (CSA) and staff of the Canadian Investment Regulatory Organization (CIRO) (together the Regulators), have been monitoring and assessing registrant conduct relating to...
Sep 28, 2023 | Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
This month, the Canadian Securities Administrators (CSA) released its ‘Year in Review’ which summarizes the activities of the provincial and territorial regulators over the past year (July 1, 2022 – June 30, 2023) (the Report). The Report outlines the CSA’s strategic...
Sep 28, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
National Instrument 81-104 Alternative Mutual Funds (NI 81-104) has been repealed by all members of the Canadian Securities Administrators (CSA), except the Autorité des marchés financiers. Only Part 4 of NI 81-104 had been in force, and it dealt with proficiency...
Sep 28, 2023 | Investment Funds, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) has released its final fee rule in Rule 2022-001 Assessments and Fees. This new rule allows FSRA to assess and collect fees, and is intended to ensure the fees reflect the regulatory efforts required to...
Sep 28, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
In late August, the Canadian Investment Regulatory Organization (CIRO) released Bulletin 23-0096 Proposed Clarifying Amendments to Registration and Proficiency Requirements. The proposed amendments are intended to clarify the proficiency requirements following the...
Sep 28, 2023 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) have released proposed amendments to National Instrument 44-102 Shelf Distributions and its Companion Policy, as well as National Policy 11-202 Process for Prospectus Reviews in Multiple Jurisdictions. The amendments...
Sep 28, 2023 | Investment Funds, Regulatory Compliance
Registrants in Ontario should have already received an email directly from the Ontario Securities Commission (OSC) reminding them of the changes in the deadlines to file 2023 Fee Forms and pay applicable capital markets participation fees. Along with all firms...
Aug 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
Staff from the Canadian Securities Administrators (the CSA) and the Canadian Investment Regulatory Organization (CIRO) recently issued a reminder to CCOs and UDPs of the prohibition against misleading communications resulting from advisor ranking contests. Reminder of...
Aug 31, 2023 | Regulatory Compliance
In 2019, the Ontario government introduced the Financial Professionals Title Protection Act (FPTPA) which established minimum standards for the use of Financial Planner (FP) and Financial Advisor (FA) titles in the province. The legislation came into force in March of...
Aug 31, 2023 | Corporate Finance, Corporate Law, Economic Sanctions, Regulatory Compliance
Earlier this month, the Ontario Ministry of Finance released a proposed new regulation under the Securities Commission Act, 2021 which would expand the purposes for which the Ontario Securities Commission (OSC) can utilize enforcement money collected as a result of...
Aug 31, 2023 | Investment Funds, Regulatory Compliance
On August 10, the Canadian Securities Administrators (CSA) announced that it will be reviewing exchange-traded funds (ETFs) in Canada, noting that ETFs make up almost 15% of the assets invested in publicly offered investment funds nationwide. The CSA will examine if...
