Feb 28, 2023 | Client-Focused Reforms (CFRs), Regulatory Compliance
Since the introduction of the new conflict of interest (COI) requirements in June 2021, the Canadian Securities Administrators (CSA) and New Self-Regulatory Organization of Canada (New SRO) have been actively testing how well the industry has adapted to the...
Feb 28, 2023 | Corporate Finance, Corporate Law, Mortgage and Real Estate Investment Vehicles
Significant changes to National Instrument 45-106 Prospectus Exemptions that impact the use of the offering memorandum prospectus exemption are expected to take effect shortly on March 8, 2023. These changes impact issuers using this specific prospectus exemption to...
Feb 28, 2023 | Investment Funds, Regulatory Compliance
On February 23, 2023, the Canadian Securities Administrators released Staff Notice 25-309 Matters Relating to Cessation of CDOR and Expected Cessation of Bankers’ Acceptances (the CDOR Staff Notice). The information in the CDOR Staff Notice is helpful to market...
Feb 28, 2023 | Corporate Finance, Corporate Law, Regulatory Compliance
On February 22, 2023, the Canadian Securities Administrators published CSA Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings – Changes to Enhance Canadian Investor Protection (the Platform Notice). The Platform Notice impacts crypto...
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...
Feb 28, 2023 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: Managing privacy and cyber risks in M&A transactions The Investment Funds Rule Book SEDAR+ is Coming – Will You be Ready? New CSA Exemption Provides Clarity for CBCA...
Jan 31, 2023 | COVID-19, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On December 7, 2022, the Ontario Securities Commission (OSC) published OSC Staff Notice 45-718 – Ontario’s Exempt Market, a report on capital raised through prospectus exemptions in the province between 2019 and 2021 (the Report). The scope of the Report is limited to...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) and IIROC (as it was then known) released Joint CSA and IIROC Staff Notice 23-329: Short Selling in Canada (Staff Notice).The Staff Notice states that the CSA and IIROC believe it is time to review the regulatory framework,...
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...
Jan 31, 2023 | Investment Funds, Regulatory Compliance
The Autorité des marchés financiers (AMF) released another draft regulation relating to complaint handling, which is being published for comment for the second time. The draft regulation respecting complaint processing and dispute resolution in the financial sector is...
Jan 31, 2023 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: CSA allows Fidelity Digital Asset Services to act as liquidity provider to Fidelity Clearing Canada Privacy, cybersecurity and M&A transactions – A cautionary tale...
Nov 30, 2022 | Regulatory Compliance
The Ontario Securities Commission (OSC) has released its most recent draft statement of priorities (SoP) in OSC Notice 11-797 – Request for Comments Regarding Statement of Priorities for Financial Year to End March 31, 2024. The draft SoP is open for comment until...
