Tag: registrants
Aug 30, 2024 | Anti-Money Laundering, Regulatory Compliance
Reporting entities such as advisers and dealers are required by FINTRAC to monitor clients with whom they have a business relationship on an ongoing basis. One reason ongoing monitoring is required relates to the obligation to report suspicious transactions to...
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...
Aug 30, 2024 | Investment Funds, Regulatory Compliance
The new Multilateral Instrument 93-101 Derivatives: Business Conduct (MI 93-101) and its related companion policy come into force shortly on September 28, 2024. MI 93-101 will have a direct impact on firms that advise or deal in over-the-counter derivatives (OTC...
Aug 30, 2024 | Investment Funds, Regulatory Compliance
This year, the annual filings for Form 13-502F4 Capital Markets Participation Fee Calculation are due by November 1, 2024. The form must be completed by firms registered under either or both the Securities Act (Ontario) and the Commodity Futures Act (Ontario), as well...
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...
Jul 31, 2024 | Investment Funds, Regulatory Compliance
On July 25, the Canadian Securities Administrators (CSA) announced specific temporary exemptions from various obligations in National Instrument 93-101 Derivatives: Business Conduct (NI 93-101) which comes into force on September 28, 2024. As a reminder, the new rule...
Jul 31, 2024 | Anti-Money Laundering, Regulatory Compliance
As all registrants know, reporting entities including advisers and dealers are required to report suspicious transactions for money laundering or terrorist financing to the Financial Transactions and Reports Centre of Canada (FINTRAC). As of August 19, 2024,...
Jul 31, 2024 | Regulatory Compliance
Many registrants received a reminder earlier this month from the securities regulatory authorities that the enhanced cost disclosure reporting requirements for investment funds (and new cost and performance reporting guidance for segregated funds) will be in force on...
Jun 27, 2024 | Client-Focused Reforms (CFRs), Investment Funds, Regulatory Compliance
Earlier this month, the Ontario Securities Commission’s Investor Advisory Panel (the Panel) released its annual report. The Panel is an advisory committee to the OSC, that represents the views of retail investors on policy and rule-making initiatives. Among other...
May 30, 2024 | Investment Funds, Regulatory Compliance
Earlier this month, the Ontario Securities Commission (OSC) released its 6-year strategic plan. The plan sets out the OSC’s new mandate, vision, and goals. The release begins by reminding us how much the financial markets that we live and work in have changed since...
May 30, 2024 | Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
The Ontario Securities Commission (OSC) has announced a number of time-limited exemptions from the dealer registration requirements to support capital raising for early-stage Ontario businesses. These initiatives are part of the OSC TestLab Program and include an...
May 30, 2024 | Regulatory Compliance
The type and use of promotions for securities has long been scrutinized and regulated. For example, in 2021, the British Columbia Securities Commission (BCSC) released for comment Proposed BCI 51-519 Promotional Activity Disclosure Requirements, which set out a...
Apr 24, 2024 | Investment Funds, Regulatory Compliance
As first reported in our November 2023 bulletin, the Ontario Securities Commission (OSC) was consulting on new fees applicable to certain dealers. The final amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees have now been published....
Mar 28, 2024 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Regulatory Compliance
Since the CFRs in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations came into effect the other year, firms have been making serious efforts to meet their enhanced conduct obligations. This includes taking reasonable...
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...
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