Insights
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Bulletin | March Break Edition | March 2023
March Break may have just passed, but it is still important to periodically take time to relax, reflect and recharge.
Don’t Stay Away too Long – Revised Guidance Published for Issuers Relying on the Offering Memorandum Prospectus Exemption
On March 8, 2023, staff of the Canadian Securities Administrators (other than Ontario), published revised Multilateral CSA Staff Notice...
Watch that Spring Break Behaviour – OSFI Issues Guideline on Culture and Behaviour Risk
Building off of the Office of the Superintendent of Financial Institution’s (OSFI’s) Culture Risk Management Letter published on March 15,...
Eat, Beach, Sleep, Repeat – New SRO Compliance Priorities Report Repeats Importance of Conflict Documentation
On March 20, 2023, the New Self-Regulatory Organization of Canada (New SRO) published its New SRO Compliance Priorities Report for...
Refreshed and Refocused: Rules Introduced to Support SEDAR+
With SEDAR+ set to replace SEDAR on June 13, 2023, the Canadian Securities Administrators (CSA) published two advance notices for the...
SEDAR+ is Not a Stress Free Zone – Foreign Issuers and Reports of Exempt Distributions
As mentioned above, the Phase 1 rollout of the new SEDAR+ filing system will be launching on June 13, 2023. This phase of the rollout...
Break’s Over – New OSC Service Commitments
The Ontario Securities Commission (OSC) published its 2023 Annual Service Commitment Review on March 21, 2023. The OSC has updated its...
Title Protection Frameworks Ramp Up – No Time for a Breather
As summarized way back in our August, 2021 bulletin, the Financial and Consumer Services Commission of New Brunswick (FCNB) has previously...
BLG’s Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: A New Year and a New SRO: Two months in...
Taking Care of One Another – New SRO Releases Proposal on Distributing Funds to Harmed Investors
The New Self-Regulatory Organization of Canada (New SRO) released a consultation earlier this month with respect to distributing disgorged...
Conflict of Interest Requirements – More Than Once Per Year
Since the introduction of the new conflict of interest (COI) requirements in June 2021, the Canadian Securities Administrators (CSA) and...
In Sync – Ontario’s Ownership Transparency Obligations Now in Force
In addition to all of the other records expected to be maintained by registrants, private companies incorporated in Ontario should take...
A Holiday for Everyone – Temporary Late Fee Exemptions in Ontario
The Ontario Securities Commission (OSC) has issued two temporary exemptions from late fees that would otherwise be levied in connection...
Additional Information on Offering Memorandum Prospectus Exemptions – Getting Everyone Together
Significant changes to National Instrument 45-106 Prospectus Exemptions that impact the use of the offering memorandum prospectus...
Not Just Another Manic Monday – Cessation of CDOR has Implications for Some Registrants
On February 23, 2023, the Canadian Securities Administrators released Staff Notice 25-309 Matters Relating to Cessation of CDOR and...
Promises, Promises – CSA Enhances Requirements for Crypto Asset Trading Platforms
On February 22, 2023, the Canadian Securities Administrators published CSA Staff Notice 21-332 Crypto Asset Trading Platforms:...