Oct 31, 2023 | Anti-Money Laundering, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
As noted in our June, 2023 bulletin article, the Department of Finance Canada is considering sweeping amendments to Canada’s anti-money laundering and anti-terrorist financing regime (AML/ATF regime) primarily contained in the Proceeds of Crime (Money Laundering) and...
Feb 28, 2023 | Regulatory Compliance
In addition to all of the other records expected to be maintained by registrants, private companies incorporated in Ontario should take note that as of January 1, 2023, it is also now a requirement to keep a register of individuals with significant control or...
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...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) recently released a draft regulation that would prohibit the use of deferred sales charges when withdrawing or transferring funds from or changing purchase options in an individual variable insurance contract relating to a...
Aug 31, 2021 | Client-Focused Reforms (CFRs), Regulatory Compliance
On July 15, 2021, the Canadian Securities Administrators (CSA) published final amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations that are intended to improve the protection of older and vulnerable...
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...
Mar 31, 2020 | Corporate Finance, Regulatory Compliance
In 2018, we wrote twice about the saga of Daniel Tiffin, who had appealed his conviction for trading in securities without registration, distributing securities without filing a prospectus, and trading in securities while subject to a cease-trade order. As we wrote in...