In the wake of announcing enforcement settlement agreements with mortgage investment entities (MIEs), mortgage brokers, administrators, and their principals involved in trading securities without registration contrary to the Securities Act (Ontario), the Ontario Securities Commission (OSC) issued a stern reminder for MIEs.
The OSC took the extra step to remind those businesses engaged in trading in securities such as units or common shares of a MIE that they may require registration with the OSC, as well as with Financial Services Commission of Ontario. In the notice the OSC encouraged those entities to review registration requirements and obtain legal advice if necessary.
For more information, please call Barbara Hendrickson at BAX Securities Law 416.601.1004.
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