News Updates
45-106 – CSA Notice and Request for Comment: Proposed Amendments to NI 45-106 and 45-106CP Relating to the Offering Memorandum Prospectus Exemption
The Canadian Securities Administrators (CSA) published a notice on September 17, 2020 for comment proposed changes to the offering memorandum prospectus exemption. The changes are reflected in proposed amendments to National Instrument 45-106 Prospectus...
CSA Staff Notice 81-333 Guidance on Effective Liquidity Risk Management for Investment Funds
The Canadian Securities Administrators (CSA) published on September 18, 2020 in a notice (Notice) guidance to help investment fund managers develop and maintain effective liquidity risk management frameworks for investment funds. The Notice states that liquidity...
CSA Notice of Amendments to NI 81-105 Prohibition of Mutual Fund Trailing Commissions Where No Suitability Determination Was Required
On September 17, 2020 the Canadian Securities Administrators (CSA) published a notice (Notice) that the CSA are adopting amendments (Amendments) to National Instrument 81-105 Mutual Fund Sales Practices (NI 81-105), changes to Companion Policy 81-105CP Mutual Fund...
Canadian Securities Administrators Postpone Issuing Annual Report of Women on Boards and in Executive Positions
The securities regulators of Alberta, Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec, and Saskatchewan (the participating jurisdictions) have jointly announced they are postponing the publication CSA Multilateral Staff Notice 58-311 Report on Fifth Staff Review...
SEC Modernizes the Accredited Investor Definition
The U.S. Securities and Exchange Commission (SEC) announced on August 26, 2020 that it was adopting amendments to the “accredited investor” definition, one of the principal tests for determining who is eligible to participate in private capital markets. The...
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