Apr 28, 2023 | Regulatory Compliance
Do you think more information is needed about diversity on boards and in the C-suite? Canadian regulators do. But they can’t decide how much more information is enough. As a result, they have published two proposals. One proposal, supported by the securities...
Apr 28, 2023 | Investment Funds, Regulatory Compliance
On an annual basis, the Ontario Securities Commission (OSC) delivers a multi-year business plan addressed to the Minister of Finance, which among other items, includes the OSC’s Statement of Priorities (SoP), which the OSC undertakes as its goals and priorities for...
Apr 28, 2023 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
As of January 1, 2023, the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) came together as the New Self-Regulatory Organization of Canada (New SRO). The newly amalgamated organization advised that...
Apr 28, 2023 | Investment Funds, Regulatory Compliance
The CSA released the annual report (Report) summarizing its key activities in 2022 with respect to its oversight of what was then known as the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) and...
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...
Apr 28, 2023 | FAQs, Regulatory Compliance
Question: Can a “Term Sheet” be an Offering Memorandum? Answer: In some circumstances, yes. In Ontario, an offering memorandum (an OM) can be any document, or a collection of documents, that describes the “business and affairs” of an issuer that was prepared for the...
Mar 31, 2023 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On March 8, 2023, staff of the Canadian Securities Administrators (other than Ontario), published revised Multilateral CSA Staff Notice 45-309 (the Notice), first published in 2012, which provides guidance for preparing and filing an offering memorandum (an OM) under...
Mar 31, 2023 | Client-Focused Reforms (CFRs), Investment Funds, Regulatory Compliance
On March 20, 2023, the New Self-Regulatory Organization of Canada (New SRO) published its New SRO Compliance Priorities Report for 2022/2023: Helping Firms with Compliance. The report highlights what the New SRO believes are issues and challenges faced by the...
Mar 31, 2023 | Regulatory Compliance
The Ontario Securities Commission (OSC) published its 2023 Annual Service Commitment Review on March 21, 2023. The OSC has updated its service standards and returned to pre-extension 2021 service timelines and targets for reviewing prospectus filings and applications...
Mar 31, 2023 | Investment Funds, Regulatory Compliance
As summarized way back in our August, 2021 bulletin, the Financial and Consumer Services Commission of New Brunswick (FCNB) has previously consulted on a framework for the protection of titles used by financial professionals in that province. That consultation ended...
Feb 28, 2023 | Investment Funds, Regulatory Compliance
The New Self-Regulatory Organization of Canada (New SRO) released a consultation earlier this month with respect to distributing disgorged funds, entitled the Proposal on Distributing Funds Disgorged and Collected through New SRO Disciplinary Proceedings to Harmed...
