Jun 27, 2024 | Investment Funds, Regulatory Compliance
On May 27, 2024, the Financial Services Regulatory Authority of Ontario (FSRA) launched a public consultation on its new proposed rules that will affect all insurers that offer customers individual variable insurance contracts (also known as individual segregated...
May 30, 2024 | Investment Funds, Regulatory Compliance
On April 25, 2024, the Canadian Securities Administrators (CSA) published two research reports that examined how the implementation of the Client Relationship Model Phase 2 (CRM2) amendments to National Instrument 31-103 Registration Requirements, Exemptions and...
Feb 29, 2024 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Systemic Risk Committee (SRC) of the Canadian Securities Administrators (CSA) allows staff to review and monitor systemic and emerging risks in the Canadian capital markets. The SRC recently released its report for the first time, identifying their views of...
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...
Jul 31, 2023 | Corporate Finance, Investment Funds, Regulatory Compliance
For collective investment vehicles with December 31 year ends, upcoming interim financial statement deadlines should be on your radar. In particular, issuers that rely on the offering memorandum (OM) prospectus exemption in Ontario are subject to new requirements...
Jun 30, 2023 | Regulatory Compliance
The use of chargebacks in the mutual fund industry is the latest practice to draw the focus of Canadian regulators who have been set on addressing conflict of interest concerns in the Canadian investment industry. On June 1, the Canadian Securities Administrators...
Nov 30, 2022 | Investment Funds, Regulatory Compliance
The CSA recently published notices that recognize the New Self-Regulatory Organization of Canada (New SRO) and approve the Canadian Investor Protection Fund (CIPF) both as of January 1, 2023. As set out in our May 2022 bulletin, the CSA released CSA Staff Notice and...
Sep 27, 2022 | Investment Funds, Regulatory Compliance
The Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) are consulting on concerns they have regarding upfront commissions used in the sale of segregated funds and individual variable insurance contracts...
Sep 27, 2022 | Investment Funds, Regulatory Compliance
The Ontario Securities Commission’s (OSC’s) Investor Office leads the OSC’s efforts in investor engagement, education, outreach and research. The Investor Office launched a survey that ran between September 27 to October 4, 2021, to assess the financial literacy of...
Sep 27, 2022 | Investment Funds, Regulatory Compliance
In early September, the Canadian Securities Administrators (CSA) began reviewing the sales practices of certain mutual funds, namely those that have a relationship with a registrant to act as a principal distributor of those funds. According to National Instrument...
Sep 27, 2022 | Investment Funds, Regulatory Compliance
In late August, IIROC released the final phase of its multi-year consultation to set base line competency profiles for all of its registration categories. This third phase deals with Supervisors, Traders, Associate Portfolio Managers and Portfolio Managers and...
Aug 17, 2022 | Investment Funds, Regulatory Compliance
The Investment Industry Regulatory Organization of Canada (IIROC) released its annual Enforcement Report (Report) for the fiscal year 2022 (April 1, 2021 to March 31, 2022). The report highlighted IIROC’s commitment to protect clients, namely senior and vulnerable...
Mar 31, 2022 | Investment Funds, Regulatory Compliance
On March 15, 2022, OBSI released its annual report for 2021, declaring the year its busiest year on record, with 7,593 consumers reaching out to complain, a 33% increase from 2020. Of that record number, 568 were investment related, a 24% increase compared to the 459...
