Aug 30, 2024 | Anti-Money Laundering, Counter-Terrorist Financing, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
A friendly reminder to all mortgage administrators, mortgage brokers and mortgage lenders of the upcoming requirement to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) as of October 11, 2024. The requirements include the...
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 | Corporate Finance, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) released its annual risk outlook for 2024 to 2025. Each year, OFSI releases this report, which provides an overview of the current risk environment facing the Canadian financial...
Mar 28, 2024 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 6, 2024, the Financial Services Regulatory Authority of Ontario (FSRA) released proposed guidance (Proposed Guidance) outlining FSRA’s interpretation of the licensing suitability requirements and FSRA’s approach to assessing an applicant’s suitability to hold...
Nov 30, 2023 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On October 10, 2023, the Financial Services Regulatory Authority of Ontario (FSRA) launched a public consultation on its proposed 2024-2025 Statement of Priorities (SoP) and budget. The objective of the consultation is to obtain feedback from stakeholders, including...
May 31, 2023 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) has released proposed guidance that speaks to its expectations for mortgage administrators when complying with their financial reporting requirements. Mortgage administrators are already required to have a...
Apr 28, 2023 | Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 28, 2023, the Financial Services Regulatory Authority of Ontario (FSRA) released updated draft interpretation guidance (the Draft Guidance) that addresses requirements and expectations for FSRA-licensed mortgage brokers, agents, brokerages and administrators...
Apr 28, 2023 | Investment Funds, Regulatory Compliance
The New Self-Regulatory Organization of Canada (New SRO) has proposed amendments to the Universal Market Integrity Rules (UMIR) and the Investment Dealer and Partially Consolidated Rules (IDPC Rules) to help facilitate the move from a T+2 settlement cycle to a T+1...
Feb 28, 2023 | Anti-Money Laundering, Counter-Terrorist Financing, Mortgage and Real Estate Investment Vehicles, News, Regulatory Compliance
Registered dealers and advisers are well versed in the AML requirements contained in the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The federal Department of Finance has recently released proposed amendments to regulations under the Act that...
