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 | Canadian Investment Regulatory Organization (CIRO), Investment Funds, Regulatory Compliance
The Canadian Investment Regulatory Organization (CIRO) has released a consultation paper that should be reviewed by every dealer member of the self-regulatory organization. CIRO’s proposed new proficiency model represents a significant change from current requirements...
May 31, 2023 | Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) recently released its annual business plan for its 2023-2026 activities (the Business Plan). The Business Plan includes reference to FSRA’s 2023-2024 statement of priorities which was the subject of a...
May 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
The Financial Services Regulatory Authority of Ontario (FSRA) is proposing further amendments to Proposed Rule 2022–001 – Assessments and Fees (Fee Rule) in order to reduce variable annual fees payable by the Canadian Investment Regulatory Organization (CIRO)...
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 | 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 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: Cyber risk management guidance for Canadian corporate directors – 2023 Update Climate-related disclosures: The Big Three’s proxy voting guidance and expectations Canada’s...
Mar 31, 2023 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: A New Year and a New SRO: Two months in Emphasizing risk culture in financial institutions: OSFI releases draft Culture and Behaviour Risk Guideline CSA publishes rules...
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...
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 | 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...
Oct 31, 2022 | Investment Funds, Regulatory Compliance
On October 14, 2022, the Compliance and Registrant Regulation (CRR) Branch of the Ontario Securities Commission (OSC) published its annual summary report in OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers (the Report). The...
Sep 27, 2022 | BLG Resource Corner
Our colleagues at BLG have provided the following insights we thought might interest our readers: No prospectus, no problem: the Listed Issuer Financing Exemption allows for free trading securities without a prospectus Cyber liability insurance exclusions: Is this...
