Insights
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Bulletin | End of Year Edition | December 2023
This month’s bulletin is filled with insights on regulatory changes relevant to the investment management industry, updates on expectations, advertising advisor awards, binding decision proposals and reminders of important upcoming filing deadlines.
CSA Proposes Expedited Shelf Prospectus Regime
The Canadian Securities Administrators (CSA) have released proposed amendments to National Instrument 44-102 Shelf Distributions and its...
Reminder: Don’t Be a Bad Apple: Capital Markets Participation Fee Deadlines
Registrants in Ontario should have already received an email directly from the Ontario Securities Commission (OSC) reminding them of the...
Misleading Communications and Advisor Ranking Contests
Staff from the Canadian Securities Administrators (the CSA) and the Canadian Investment Regulatory Organization (CIRO) recently issued a...
Summer Supervision: FSRA’s Plan for Credentialing Bodies
In 2019, the Ontario government introduced the Financial Professionals Title Protection Act (FPTPA) which established minimum standards...
Ministry of Finance Quietly Proposes New Authorized Purposes for Enforcement Money
Earlier this month, the Ontario Ministry of Finance released a proposed new regulation under the Securities Commission Act, 2021 which...
Is it Hot in Here? CSA to Review Exchange-Traded Funds
On August 10, the Canadian Securities Administrators (CSA) announced that it will be reviewing exchange-traded funds (ETFs) in Canada,...
Trade Matching Guidelines Date Extended – Making Every Minute Count
Earlier this month, the Canadian Securities Administrators (CSA) released Staff Notice 24-319 that outlines their position and...
FSRA’s Keeping the Pressure on Unlicensed Persons
The Financial Services Regulatory Authority of Ontario (FSRA) opened a short consultation late last month on proposed guidance respecting...
Pawsitive Updates to CIRO’s AML Guidance
On August 16, the Canadian Investment Regulatory Organization (CIRO) released updated guidance relating to anti-money laundering in...
IFIC Annual Leadership Conference – October 5
AUM Law’s William (Bill) Donegan will be participating as a moderator on the Advice Panel at the Investment Funds Institute of Canada...
BLG Fall Webinar: Focus on CIRO – September 20
On September 20, William (Bill) Donegan will also be speaking alongside Borden Ladner Gervais LLP (BLG) lawyers at a BLG’s Investment...
OSC Releases Annual Summary Report for Dealers, Advisers and IFM
On July 27, 2023, the Ontario Securities Commission (OSC) released its annual report outlining the work staff conducted in 2022/23 (to...
Learning Something New – CIRO’s Proposed New Proficiency Model
The Canadian Investment Regulatory Organization (CIRO) has released a consultation paper that should be reviewed by every dealer member of...
A Trip Around Alberta – ASC Releases 2023 Annual Report
On June 21, 2023, the Alberta Securities Commission (ASC) released its 2023 Annual Report, detailing its achievements in the final year of...
CSA Provides Temporary Relief from Filing Reports of Exempt Distribution through SEDAR+
The Canadian Securities Administrators (CSA) announced on July 20 with effect from July 21, 2023, that they were issuing substantively...