Tag: EMDs

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 date). The report has four parts, outlining the OSC’s (i) education and outreach to registrants; (ii) regulatory oversight activities...

FAQ Corner: Now that Joint Oversight Over Distributions of Non-Qualified Syndicated Mortgage Investments (NQSMIs) by FSRA and the OSC is Underway, What Should Firms Operating in this Space Keep in Mind?

Answer: As of July 1, 2021, the OSC will have regulatory oversight over the distribution of NQSMIs to persons that are not permitted clients. Firms distributing NQSMIs to investors that are not permitted clients will need to rely on another available prospectus...

How Often Should a Registered Firm Conduct Ongoing Monitoring of Their Clients’ Accounts for the Purposes of Complying with Their Anti-Money Laundering (AML) Requirements?

Answer: While it may be considered industry standard to conduct ongoing monitoring annually, FINTRAC allows registrants to determine the frequency with which a registrant will monitor its clients’ accounts. Accordingly, every firm should have policies and procedures...