The Canadian Securities Administrators (CSA) on June 30, 20 released an interim progress reports on initiatives published in its CSA 2019-2022 Business Plan, which sets out the priorities of its members over the course of the next three-year period. The progress report provides an update to Canadian investors and market participants on work set out by CSA members in June of last year, highlights achievements outside of the Business Plan, and outlines upcoming policy initiatives.

In April 2020 the CSA announced a publication halt for all regulatory work until May 30, 2020 because of the challenges faced by investors and market participants during the COVID-19 pandemic,. In addition, CSA members provided a range of regulatory relief and guidance to various market participants so they could free up resources to focus on front-line activities and investors’ needs.

Some highlights in the first year of the Business Plan include the:

  • Publication in final form of rule amendments to implement the Client Focused Reforms;
  • Publication in final form by participating members of rule amendments that prohibit mutual and other investment funds from paying upfront sales commissions to dealers, which would lead to the end of or restrictions on deferred sales charges;
  • Continuation of a broad ranging reform to lighten regulatory burden for all market participants.

The report also outlines the policy initiatives for the next year to give market participants additional time to prepare for upcoming regulatory changes and consultations.

While the initiatives of the Business Plan remain fundamental to CSA members’ work, the CSA is prepared to continue to address new issues and challenges presented by evolving capital market conditions.  The CSA will also continue to monitor emerging trends and international developments in areas that fall within our mandate to determine whether any new initiatives are appropriate.

The report can be found at:  interim progress report 

For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.

This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.