Insights
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BLG and AUM Law Expand Investment Management Expertise
AUM Law and Borden Ladner Gervais LLP (BLG) are delighted to welcome Bill Donegan to AUM Law as senior compliance consultant.
Harvest Portfolios Group Hits $1bn in AUM
We would like to congratulate Harvest Portfolios Group for breaking through the coveted milestone of $1bn of assets under management...
AUM Law Speaks at PMAC Succession Planning Webcast
On February 4, the Portfolio Management Association of Canada (PMAC) will be hosting a virtual webcast. AUM Law’s Kevin Cohen will...
Regulators Make it Easier for MFDA Reps to Sell Liquid Alt Funds
On January 28, the Canadian Securities Administrators (CSA) issued temporary blanket relief, which is expected to be codified at a later...
OSC Issues “Best Practice Guidance” for Prospectus Filings
In March 2020, The Ontario Securities Commission (OSC) has put in place the option of confidentially pre-filing a prospectus, as part of...
IOSCO Issues Guidance for Dealing with Aggrieved Investors
On January 27, 2021, the International Organization of Securities Commissions (IOSCO) published a report titled "Complaint Handling and...
FAQ Corner: Can a portfolio manager or investment fund that is subject to FATCA/CRS due diligence and reporting obligations rely on a dealer or third-party custodian to conduct these activities on its behalf?
Answer: The FATCA and CRS provisions of the Income Tax Act (Canada) (the “ITA”) and the guidance issued by the Canada Revenue Agency (CRA)...
FAQ Corner: Does a pooled fund that invests in an underlying fund require a custodian for the securities of the underlying fund?
Answer: In June 2018, amendments to the custody requirements in NI 31-103 came into force (the “Custody Amendments”). The Custody...
Reviewing Fund Custodian Arrangements
Investment fund managers that have obtained approval from the Ontario Securities Commission to self-trustee pooled funds and/or exemptive...
FINTRAC Updates its Guidance on Conducting AML Risk Assessments
One of the five core requirements of a registered firm’s anti-money laundering and anti-terrorist financing (AMLTF) compliance program is...
CSA Publishes More FAQ Guidance on the Client-Focused Reforms
On September 28, the Canadian Securities Administrators (CSA) published guidance in the form of responses to frequently asked questions...
Ontario’s Capital Markets Modernization Taskforce Releases Final Report
In our July 2020 Bulletin we reported on the Consultation Report of Ontario’s Capital Markets Modernization Taskforce. On January 22, the...
AUM Law Speaks at Client Focused Reforms and the KYP Webinar
On February 2, AUM Law’s Richard Roskies will participate as a speaker at the InvestorCOM webinar, to discuss Client Focused Reforms and...
AUM Law Participates in CAASA Webinar
As a proud member of the Canadian Association of Alternative Strategies and Assets (CAASA), AUM Law is pleased to contribute to CAASA’s...
CSA Publishes Guidance on Automatic Securities Disposition Plans
On December 10, the Canadian Securities Administrators published guidance (including “recommended best practices”) for issuers and...
OSC Publishes Report on Exempt Market Activity
On December 10, the OSC published a report on recent capital raising activity in the exempt market by corporate (i.e., non investment-fund...