Oct 31, 2023 | Client-Focused Reforms (CFRs), Corporate Finance, Investment Funds, Regulatory Compliance
It appears that the long promised regulatory KYC, KYP and suitability audits have begun. Regulators have started reaching out to conduct focused compliance reviews to ensure compliance with the Client Focused Reform requirements that were enacted in 2021. Considering...
Aug 17, 2022 | Investment Funds, Regulatory Compliance
The Investment Industry Regulatory Organization of Canada (IIROC) released its annual Enforcement Report (Report) for the fiscal year 2022 (April 1, 2021 to March 31, 2022). The report highlighted IIROC’s commitment to protect clients, namely senior and vulnerable...
Apr 29, 2022 | Client-Focused Reforms (CFRs), FAQs, Investment Funds, Regulatory Compliance
You just got a formal request from the Ontario Securities Commission (OSC) that they would like to come by for a visit, accompanied by a request for all the inner workings of your firm, what do you do?! First, respond. Second, get ready, any regulatory review will be...
Mar 31, 2022 | Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Regulatory Compliance
Earlier in March, the Investment Industry Regulatory Organization of Canada (IIROC) released its 2021/2022 Compliance Priorities Report, outlining its past actions and current issues that are impacting IIROC-regulated firms that should be a compliance focus for those...
Mar 31, 2022 | Client-Focused Reforms (CFRs), Regulatory Compliance
If not already completed, firms with a December year end should turn their attention to the required annual report from the Chief Compliance Officer. National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations requires that a...
Oct 29, 2021 | Events, News, Regulatory Compliance
On November 18, Richard Roskies will be speaking alongside BLG lawyers at the BLG’s Investment Management webinar, for which you will have received an invitation. Topics discussed will include regulatory developments relating to digital assets, investment fund...
Sep 30, 2021 | Regulatory Compliance
On July 15, 2021, the Canadian Securities Administrators released Notice of Amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) which contains the final amendments (the Amendments) to NI 31-103...
Jan 31, 2020 | Client-Focused Reforms (CFRs), Featured, Regulatory Compliance
In this bulletin: Client-Focused Reforms: A Closer Look at the Misleading Communications, RDI, Compliance Training and Record-Keeping Rules IIROC and FINRA Publish Their Compliance Priorities for 2020 Get Ready to RAQ and Roll IIROC Fines Registered Representative for...
Jan 31, 2020 | Regulatory Compliance
A recent settlement between the Investment Industry Regulatory Organization of Canada (IIROC) and a registered representative (Representative) at Scotia Capital Inc. (Scotia) illustrates the importance for individual registrants of following through on their...
Jan 31, 2020 | Corporate Finance, Corporate Law, Regulatory Compliance
On January 16, the Alberta Securities Commission (ASC) published Staff Notice 45-705 Compliance with Investment Limits under the Offering Memorandum Prospectus Exemption (the Notice). It outlines the results of staff’s recent review of over 80,000 (!) recent...
