The Canadian Securities Administrators (CSA) have published for a request for comment to proposed amendments to the business acquisition report (BAR) requirements for reporting issuers that are not venture issuer (e.g. an investment fund). The ninety-day comment period ends December 4, 2019. The proposed amendments…
The Royal Bank of Canada (RBC) and the Toronto Dominion Bank (TD) have agreed to pay the Ontario Securities Commission (OSC) over CAD $24 million for their failure to properly supervise their respective Foreign Exchange (FX) traders who exchanged confidential client information via online chatrooms….
The Canadian Securities Administrators (CSA) has provided guidance to firms seeking to engage the services of compliance consultants (Consultants) following a regulatory decision. CSA Staff Notice 31-356, Guidance on Compliance Consultants (The Staff Notice) defines the scope and role of compliance consultants. In detail, the…
The Ontario Securities Commission (OSC) has issued Staff Notice 11-787 Improving Fee Disclosure Through Behavioural Insights (the Staff Notice), outlining the findings of a research report (the Report) aimed at improving the investor’s experience with correspondingly better market outcomes through behaviorally-informed tactics for designing more…
The Financial Services Regulatory Authority (FSRA) of Ontario’s approach to syndicated mortgage investments started to take shape with the publication of two key documents early in August. The first was the regulator’s Request for Comment – Proposed Supervision Approach for High-risk Syndicated Mortgage Investments (the Proposed…
The 2018 Annual Report of the Joint Regulators Committee (JRC) of the Ombudsman for Banking Services and Investments (OBSI) (the Annual Report) has been published jointly by its member organizations: the Canadian Securities Administrators (CSA), the Investment Industry Regulatory Organization of Canada (IIROC), and the…
The Ontario Securities Commission (OSC) has published Staff Notice 33-750 Summary Report for Dealers, Advisers and Investment Fund Managers (the Staff Notice or Summary Report), which reviews information impacting registration, information from compliance reviews, and policy initiatives that affect registrants. The four-part Summary Report prepared…
Ontario’s newest financial services regulatory body, the Financial Services Regulatory Authority of Ontario (FSRA), has announced its priorities for the sectors it watches over, intending to provide sector-specific burden reductions while maintaining regulatory effectiveness. Currently, the regulator is in consultations with sectoral stakeholders and reviewing…
Effective June 1, 2020, Canadian cryptocurrency exchanges and foreign cryptocurrency exchanges serving Canadians will be required by Canada’s Finance Department to register as Money Service Bureaus (MSBs) with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) to comply with recent amendments to the Proceeds…
The Ontario Securities Commission (OSC) has lifted some of the regulatory burden for investment fund managers of pooled funds. Fund managers of pooled funds now no longer need to apply for approval to act as trustees. As registrants, the OSC deems that fund managers are…