Insights
We strive to make our publications timely, useful, and digestible for the executive managers in the asset management industry. We take pride in a good pun or apt music reference.
The articles on our website aren’t intended as a complete statement of the law or an opinion any matter. Please read our Privacy Policy to learn more.
Bulletin | Work from Wherever Edition | August 2020
As everyone eases into the last long weekend of the summer, we hope you find the latest edition of our bulletin useful. We write about the forthcoming changes to the syndicated mortgages regime, FSRA’s consultation on its proposed regulatory framework for the use of financial advisor and financial planner titles, potential reforms to Ontario privacy legislation, and much more. Read about these developments and more in our Work from Wherever edition.
CSA Finalizes Amendments to Syndicated Mortgages Regime, while OSC and FSRA Publish Local Rules and Guidance for Comment
On August 6, the Canadian Securities Administrators (CSA) published final amendments to national rules affecting the prospectus and...
FSRA Consults on Rules and Guidance for the Use of Financial Advisor and Financial Planner Titles
On August 13, the Financial Services Regulatory Authority of Ontario (FSRA) published for comment Proposed Rule [2020-001] Financial...
Ontario Consults on Potential Reforms to Privacy Legislation
On August 13, the Ontario Ministry of Government and Consumer Services (Ministry) launched a consultation (Consultation) regarding...
CSA Publishes Report on How CRM2 Reforms and Mutual Fund Point-of-Sale Rules Have Affected Investor Knowledge, Attitudes and Behaviour
On August 27, the Canadian Securities Administrators (CSA) published a report on their four-year study of what individual investors think...
CSA Raises the Bar on Threshold for Business Acquisition Reports
On August 20, the Canadian Securities Administrators (CSA) published final amendments (Amendments) to the business acquisition report...
SEC’s Risk Alert on COVID-Related Compliance Risks Is Instructive for Canadian Registrants
On August 12, the Office of Compliance Inspections and Examinations at the U.S. Securities and Exchange Commission (SEC) published a Risk...
Wealthsimple to Test Crypto Asset Trading Platform in CSA’s Sandbox
Earlier this month, the Canadian Securities Administrators (CSA) published their first decision registering a crypto asset trading...
PMAC Fall Regulatory and Compliance Webcast – September 24
AUM Law is a proud sponsor of the Fall Regulatory and Compliance Webcast organized by the Portfolio Management Association of Canada...
NASAA Task Force Targets COVID-19 Fraudsters
On August 19, the North American Securities Administrators Association (NASAA) reported on the activities of its COVID-19 Enforcement Task...
OSC Issues Interim Prospectus and Registration Exemptions to Facilitate Crowdfunding
In our February 2020 bulletin, we reported on proposed National Instrument 45-110 Start-up Crowdfunding and Registration Exemptions (NI...
Are You Prepared to Deal with Colleagues Experiencing Diminished Capacity?
The Senior Issues and Diminished Capacity Committee (Committee) of the North American Securities Administrators Association (NASAA), which...
Do registered individuals (and applicants for registration) have to disclose offenses they have been charged with, if the matter hasn’t been adjudicated yet?
Item 14.1 of Form 33-109F4 Registration of Individuals and Review of Permitted Individuals (Form 33-109F4) requires individual applicants...
How does a registered firm’s UDP certify their firm’s 2020 RAQ responses if the UDP doesn’t have online access to the survey?
As we mentioned in our May 2020 bulletin, Ontario-registered firms must submit online their 2020 Risk Assessment Questionnaire (RAQ)...
Watch Out or Wash Out: Coinsquare Executives Learn That Innovation Isn’t a Free Pass to Violate Securities Laws
On July 21, the Ontario Securities Commission (OSC) approved a settlement agreement (Settlement) with Coinsquare Ltd. (Coinsquare) and...
CSA Publishes Guidance on Flexible CCO Arrangements
On July 2, the Canadian Securities Administrators (CSA) published Staff Notice 31-358 Guidance on Registration Requirements for Chief...