Category: Regulatory Compliance
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) recently published for comment proposed amendments to National Instrument 24-101 Institutional Trade Matching and Settlement (NI 24-101). The proposed amendments would allow for the shortening of the standard settlement...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) and IIROC (as it was then known) released Joint CSA and IIROC Staff Notice 23-329: Short Selling in Canada (Staff Notice).The Staff Notice states that the CSA and IIROC believe it is time to review the regulatory framework,...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
IIROC released a consultation paper in December regarding its arbitration program, which was last reviewed in 2011. The program requires investment dealers to participate in binding arbitration to settle disputes upon the request of a client. The consultation is a...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) announced in December that it was giving industry participants that use the title of “financial advisor” or “financial planner” more time to comply with its Financial Professionals Title Protection...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) recently released a draft regulation that would prohibit the use of deferred sales charges when withdrawing or transferring funds from or changing purchase options in an individual variable insurance contract relating to a...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) released another draft regulation relating to complaint handling, which is being published for comment for the second time. The draft regulation respecting complaint processing and dispute resolution in the financial sector is...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
By the time you are reading this reminder, investment fund managers registered in Ontario will have received the 2023 Investment Fund Survey from the Ontario Securities Commission (OSC). As stated by staff, access to the data requested will allow them to proactively...
Jan 31, 2023 | News, Regulatory Compliance
On December 16, 2022, the OSC announced the members of the Registrant Advisory Committee (RAC) for the 2023-2024 term. The RAC is composed of members representing the different registration categories and business models overseen by the OSC, including firms with...
Nov 30, 2022 | Regulatory Compliance
The Ontario Securities Commission (OSC) has released its most recent draft statement of priorities (SoP) in OSC Notice 11-797 – Request for Comments Regarding Statement of Priorities for Financial Year to End March 31, 2024. The draft SoP is open for comment until...
Nov 30, 2022 | Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Securities Administrators (CSA) released CSA Consultation Paper 21-403 Access to Real-Time Market Data, focusing on the costs of various types of access. As defined in the Consultation Paper, ‘real-time market data’ is order and trade...
Nov 30, 2022 | Investment Funds, Regulatory Compliance
The Ontario Securities Commission (OSC) recently announced that new OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees and their respective companion policies will come into effect on April 2, 2023. As noted in our January 2022 bulletin article, the...
Nov 30, 2022 | Investment Funds, Regulatory Compliance
On November 25, the Financial Services Regulatory Authority of Ontario (FSRA) proposed amendments to the existing Unfair or Deceptive Acts or Practices (UDAP) Rule. The amendments would eliminate deferred sales charges (DSC) on new segregated fund contracts effective...
Nov 30, 2022 | Investment Funds, Regulatory Compliance
The CSA recently published notices that recognize the New Self-Regulatory Organization of Canada (New SRO) and approve the Canadian Investor Protection Fund (CIPF) both as of January 1, 2023. As set out in our May 2022 bulletin, the CSA released CSA Staff Notice and...
Nov 30, 2022 | Regulatory Compliance
A few impending filing deadlines that we thought would be helpful to note from past bulletins for your reference: December 1 (yes, December 1) is the deadline for registrants in Ontario and foreign firms that rely on certain exemptions from the registration...
Nov 30, 2022 | Events, News, Regulatory Compliance
AUM Law’s Chris Tooley will be participating as a speaker for the second year in a row at the Anti-Money Laundering and Anti-Terrorist Financing Training Session hosted by PMAC. Chris will be covering core concepts around money laundering and terrorist financing,...