Tag: consultation paper
Jul 31, 2024 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
Earlier this month, the Canadian Investment Regulatory Organization (CIRO) released for comment proposed amendments to its proficiency rules, which would apply to Approved Persons of investment dealers. CIRO’s proposed model would shift from a course centric model...
Mar 28, 2024 | Regulatory Compliance
On March 13, the Canadian Sustainability Standards Board (CSSB) released Canadian Sustainability Disclosure Standards (CSDS) for public consultation. These standards are based on the standards released by the International Sustainability Standards Board (ISSB) last...
Jul 31, 2023 | Investment Funds, Regulatory Compliance
The Manitoba government has joined Québec, Ontario, Saskatchewan and New Brunswick in considering or implementing legislation respecting the use of the titles “financial planner” and “financial advisor”. Title protection legislation in the province would prohibit the...
Sep 30, 2021 | Investment Funds, Regulatory Compliance
On August 31, the Investment Industry Regulatory Organization of Canada (IIROC) released another consultation paper with respect to draft competency profiles for its registration categories which is the second phase of a multi-year project. IIROC estimates that they...
Aug 31, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On July 28, 2021, the Canadian Securities Administrators (CSA) announced a proposed new prospectus exemption for issuers listed on a Canadian stock exchange. The proposal is in response to comments received from CSA Consultation Paper 51-404 Considerations for...
Feb 26, 2021 | Investment Funds, Regulatory Compliance
In response to the recently released report by Ontario’s capital markets modernization taskforce containing 70 plus recommendations (summarized in our January bulletin), the Canadian Securities Administrators (CSA), excluding the Ontario Securities Commission (OSC),...
Jul 31, 2020 | Corporate Finance, Investment Funds, Regulatory Compliance
Inventions, apologies, clean water and comedians. Canada is great at many things. Add to that list our tolerance for studies of our securities regulatory system. Here at AUM Law, we’ve been dipping into the initial consultation report (Report) of the Ontario...
Jun 30, 2020 | Regulatory Compliance
On May 28, the International Organization of Securities Commissions (IOSCO) published for comment revised Principles on Outsourcing (Revised Principles). Previously, IOSCO had issued outsourcing principles for market intermediaries (2005) and markets (2009). The...
Jun 30, 2020 | Cyber-security and Data Privacy, Regulatory Compliance
On June 25, the International Organization of Securities Commissions (IOSCO) published a draft report and proposed guidance (Report) regarding asset managers and market intermediaries’ use of artificial intelligence (AI), including machine learning (ML). It’s a useful...
Jun 30, 2020 | Investment Funds, Regulatory Compliance
On June 25, the Canadian Securities Administrators (CSA) published a consultation paper (Consultation Paper) seeking feedback on whether the current framework for self-regulatory organizations (SROs) should be reformed. As our readers know, the existing system...
Mar 31, 2020 | COVID-19, Cyber-security and Data Privacy, FAQs, Regulatory Compliance
In light of the COVID-19 outbreak, many registered firms are implementing their business continuity plans (BCPs) and having their employees work from home, except where certain individuals need to access office facilities to ensure continued service to clients. In...
Mar 31, 2020 | COVID-19, Investment Funds, Regulatory Compliance
In light of the COVID-19 pandemic, the Canadian Securities Administrators (CSA), including the Ontario Securities Commission (OSC), have been providing blanket exemptive relief and taking other steps to relieve burdens for market participants. The situation is fluid...
Mar 31, 2020 | Regulatory Compliance
Overview: On March 5, the Canadian Securities Administrators (CSA) proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) and the related Companion Policy (NI 31-103CP) to clarify how...
Mar 31, 2020 | Regulatory Compliance
On March 23, the Investment Industry Regulatory Organization of Canada (IIROC) released reasons (Reasons) for a hearing panel’s decision to fine TD Waterhouse Canada Inc. (TDW) $4 million for its failure to include position cost information in its quarterly account...
Mar 31, 2020 | Corporate Law
As we discussed in our January 2019 bulletin, most private corporations organized under the Canada Business Corporations Act (CBCA) are now required to keep a register of individuals with significant control (ISC Register). Responding to feedback received since these...
