Tag: know-your-product
Jul 31, 2024 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Registration, Inspections and Examinations Division of the Ontario Securities Commission (OSC) released its highly anticipated OSC Staff Notice 33-756: Summary Report for Dealers, Advisers and Investment Fund Managers. The report is always a must-read for...
May 30, 2024 | Anti-Money Laundering, Regulatory Compliance
Professionals at AUM Law can help registered firms meet their training obligations by providing in-person or virtual training for staff, tailored to the requirements that apply to your firm, on a fixed-fee basis. We provide training on several core regulatory topics,...
Mar 28, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
On March 13, 2024, the Canadian Investment Regulatory Organization (CIRO) released its compliance priorities for the year. There is much in the document for CIRO members to note. Dealers need to pay special attention to the emphasis on compliance with the Client...
Mar 28, 2024 | Client-Focused Reforms (CFRs), Regulatory Compliance
Registrants are reminded that your basement is not the only thing that may need some spring cleaning – it may be time to dust off the product shelf and review your Know-Your-Product (KYP) documentation to ensure it is up to date. With securities regulators likely...
Feb 16, 2024 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
CIRO member dealers are required to provide ongoing training to their Approved Persons concerning securities regulatory requirements, including conflicts of interest, know your client, know your product and suitability determinations. AUM Law provides training...
Dec 21, 2023 | Investment Funds, Regulatory Compliance
In late November, the Canadian Securities Administrators (the CSA) published a Request for Comment proposing amendments to certain complaint handling provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI...
Oct 31, 2023 | Featured
In this bulletin: Multilateral Instrument 93-101 Derivatives: Business Conduct – A Labyrinth of Compliance Obligations The Witching Hour – AML/ATF Obligations for Mortgage Lenders are Here Reporting on Diversity – A Spellbinding Challenge In Brief: Break out the...
Oct 31, 2023 | Investment Funds, Regulatory Compliance
The Canadian securities regulators adopted a business conduct rule for derivatives dealers and advisers which will become effective on September 28, 2024 (the rule or MI 93-101). British Columbia intends to adopt substantially similar rules and when they do so, the...
Oct 31, 2023 | Client-Focused Reforms (CFRs), Corporate Finance, Investment Funds, Regulatory Compliance
It appears that the long promised regulatory KYC, KYP and suitability audits have begun. Regulators have started reaching out to conduct focused compliance reviews to ensure compliance with the Client Focused Reform requirements that were enacted in 2021. Considering...
Sep 29, 2023 | Featured
In this bulletin: Compliance Café – OSC Staff Summary Report for Investment Fund and Structured Product Issuers Brewing Compliance Trends: Joint CSA and CIRO Review of Registrants’ Conflicts of Interest Practices CSA Year in Review; Fall’s Well that Ends Well In...
Sep 28, 2023 | Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
This month, the Canadian Securities Administrators (CSA) released its ‘Year in Review’ which summarizes the activities of the provincial and territorial regulators over the past year (July 1, 2022 – June 30, 2023) (the Report). The Report outlines the CSA’s strategic...
Aug 31, 2023 | Featured
In this bulletin: In the Dog House – Misleading Communications and Advisor Ranking Contests Summer Supervision: FSRA’s Plan for Credentialing Bodies Like a Cloudless August Sky, Ministry of Finance Quietly Proposes New Authorized Purposes for Enforcement Money...
Jul 31, 2023 | Featured
In this bulletin: A Visit from Old Friends – OSC Releases Annual Summary Report for Dealers, Advisers and Investment Fund Managers Learning Something New – CIRO’s Proposed New Proficiency Model A Trip Around Alberta – ASC Releases 2023 Annual Report Never a Dull...
Jul 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
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...
Jul 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
On July 13, the Canadian Investment Regulatory Organization (CIRO) released for the third time proposed amendments to modernize and simplify its derivatives related requirements. One of CIRO’s predecessor organizations, IIROC, initially published proposed amendments...
