Insights
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Bulletin | Wellness Edition | Summer 2022
In reading this month’s bulletin, we also hope you find some comfort in our carefully curated regulatory summaries outlining annual reports from IIROC, the CSA and the OSC, proposals to modernize the corporate governance framework for financial institutions, and more below.
Alberta Eliminates Director Residency Requirements
On March 29, 2021, Bill 22, Red Tape Reduction Implementation Act, 2020, was proclaimed into force in Alberta. As a result, an Alberta...
Alberta and Saskatchewan Adopt the Self-Certified Investor Prospectus Exemption
On March 31, 2021, the Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan adopted, on an...
CSA Multilateral Notice and Request for Comment re Proposed Order 45-539 Small Business Financing
The Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan have proposed a new prospectus...
ASC Notice and Request for Comment re Blanket Order 31-536 Alberta Small Business Finder’s Exemption
The Alberta Securities Commission is continuing to explore unique exemptions to revitalize Alberta’s capital markets and assist small...
Regulatory Penalties in British Columbia Not Discharged Through Bankruptcy
The Supreme Court of British Columbia has confirmed that monetary penalties and disgorgement orders from regulatory proceedings are exempt...
Lawsuit Against Ontario Securities Commission Can Proceed
On March 18, 2021, the Court of Appeal for Ontario ruled that a malicious prosecution lawsuit against the Ontario Securities Commission...
Expansion of Ontario Securities Commission’s Mandate
In January 2021, the Capital Markets Modernization Taskforce published its final report after completing its review of the status of...
FSRA Publishes First Quarterly Report Scorecard on Service Standards
On March 12, 2021, the Financial Services Regulatory Authority of Ontario (FSRA) published its first quarterly scorecard on its service...
Updates on Amendments re Syndicated Mortgages
As reported in our December 2020 bulletin, on December 7, the Ontario Securities Commission (OSC) released the final amendments to OSC...
British Columbia Securities Commission to Contact Clients Directly
The British Columbia Securities Commission recently announced that it will be contacting clients more routinely as part of its compliance...
Some Provincial Regulators Say Modernization Task Reforms Could Hurt Harmonization
In response to the recently released report by Ontario’s capital markets modernization taskforce containing 70 plus recommendations...
CSA to Release Recommendations on SRO Framework
In response to the recently released report by Ontario’s capital markets modernization taskforce containing 70 plus recommendations...
FAQ Corner: Are there other regulations for a portfolio manager to think about when determining whether the early warning reporting rules apply to the purchase of securities of a reporting issuer?
Answer: When considering an investment in a reporting issuer, we often get questions on whether the early warning reporting (EWR)...
Outside Activities 2.0: Potential Burden Reduction Comes to Reporting of Registrant Information
On February 4, the Canadian Securities Administrators (CSA) released a number of proposed changes to certain initial and ongoing...
Interview with Richard Roskies regarding Client Focused Reforms and Know-Your-Products Provisions
Richard Roskies, Senior Counsel at AUM Law, recently sat down with Parham Nasseri from InvestorCOM to discuss the Client Focused Reforms...