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Bulletin | Autumn Edition | September 2021
In this month’s bulletin edition, we cover topics such as the OSC’s Annual Summary Report, IIROC’s draft competency profiles for its registration categories and Québec’s proposed new complaint handling process. Read about these developments and more, below.
Can Our Firm Use Electronic Signatures for Subscription Documents, Investment Management Agreements and Similar Agreements with the Firm’s Clients?
With so many registered firms operating remotely and avoiding in-person meetings with potential clients wherever possible during the...
OSC Temporarily Waives Late Fees for All Market Participants
On April 17, the Ontario Securities Commission (OSC) announced that it is waiving all late fees that would otherwise accumulate between...
CSA Temporarily Increases Short-Term Borrowing Limits for Mutual Funds
On April 17, the Canadian Securities Administrators (CSA) issued blanket orders permitting mutual funds that invest a portion of their...
OSC Scales Back Its Consultation on Business Priorities
This is the time of year when the Ontario Securities Commission (OSC) usually publishes a substantive consultation paper requesting...
Regulators Plan Three-Year Moratorium on Trade Matching Exception Reporting
In late March, the Ontario Securities Commission (OSC) submitted to the Minister of Finance amendments to National Instrument 24-101...
AUM Law Participates in CAASA Webinar and Podcast
As a proud member of the Canadian Association of Alternative Strategies and Assets (CAASA), AUM Law is pleased to contribute to CAASA’s...
Lexology Award
We are pleased to have been recognized once again by Lexology as the exclusive Legal Influencer for financial services commentary in...
You’ve Activated Your Business Continuity Plan. What’s Next?
In light of the COVID-19 outbreak, many registered firms are implementing their business continuity plans (BCPs) and having their...
CSA and OSC Extend Certain Deadlines for Registrants and Investment Funds and Postpone Certain Initiatives
In light of the COVID-19 pandemic, the Canadian Securities Administrators (CSA), including the Ontario Securities Commission (OSC), have...
FINTRAC Signals Flexibility to Reporting Entities Affected by COVID-19
On March 25, FINTRAC issued a notice (Notice) indicating that it is committed to working constructively with businesses (Reporting...
CSA Proposes Rules to Address Financial Exploitation of Vulnerable Investors
Overview: On March 5, the Canadian Securities Administrators (CSA) proposed amendments to National Instrument 31-103 Registration...
IIROC Fines TD Waterhouse $4 Million for Deliberate Non-Compliance with RDI Requirements
On March 23, the Investment Industry Regulatory Organization of Canada (IIROC) released reasons (Reasons) for a hearing panel’s decision...
Corporations Canada Seeks Comments on Potential Regulations for Corporate Registers of Individuals with Significant Control
As we discussed in our January 2019 bulletin, most private corporations organized under the Canada Business Corporations Act (CBCA) are...
No Jail Time for Mr. Tiffin After All, But His Conviction Stands
In 2018, we wrote twice about the saga of Daniel Tiffin, who had appealed his conviction for trading in securities without registration,...
FAQ Corner: In light of the COVID-19 pandemic, what should we be doing with respect to our suitability determination and KYC obligations to clients?
Answer: The pandemic is likely to be a life event for many individual clients, who might experience, among other things, a loss or...