From the Regulators

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From the Regulators

Dec 30, 2019
2 min

CSA to ban DSCs everywhere but Ontario

Ontario is considering alternatives to a DSC ban, but will join the CSA in outlawing trailers for discount brokers Ontario will remain a...

Nov 12, 2019
2 min

Ontario to review Securities Act for first time in 16 years

Ontario’s fall economic statement includes a commitment to establish a securities modernization task force, in light of the fact that the...

Nov 12, 2019
1 min

Canadian securities regulators outline corporate governance disclosure expectations for cannabis iss

Toronto – Securities regulatory authorities in Ontario, British Columbia, Quebec, New Brunswick, Saskatchewan, Manitoba and Nova Scotia...

Aug 6, 2019
3 min

Industry seeks clarity on MFDA proposal regarding discretionary trading

Along with others, the Portfolio Management Association of Canada (PMAC) has voiced concerns about a proposal to allow mutual fund...

Jul 25, 2019
1 min

Former rep who inherited client’s Air Miles permanently banned

A former mutual fund dealing rep who acted as an executor and trustee for two clients’ estates — and inherited one client’s Air Miles as...

May 27, 2019
2 min

IG settles with MFDA over suitability of DSC sales to elderly clients

The hearing involved two clients over age 90 sold DSC funds with seven-year redemption schedules The dealer arm of fund industry giant...

May 27, 2019
1 min

BCSC wins in U.S. court to enforce order against fraudster

The British Columbia Securities Commission (BCSC) has won a victory in a Nevada court this week to enforce a $21.7-million order against...

May 27, 2019
2 min

IIROC and CSA provide update on conflicts of interest arising from soliciting dealer arrangements

The Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Securities Administrators (CSA) today published an...

May 13, 2019
2 min

OSC to consider settlement with NextBlock, Tapscott

Securities regulators are set to consider a settlement with a former blockchain investment firm and its founder, Alex Tapscott, who are...

May 6, 2019
2 min

Canadian securities regulators outline next steps on the development of an integrated information

The Canadian Securities Administrators (CSA) today set out next steps for a new integrated national information and filing system (the...

Apr 24, 2019
1 min

Former rep sanctioned for suitability failures

A former broker has agreed to a multi-year suspension and a $100,000 fine after admitting to violating securities rules by recommending...

Mar 22, 2019
1 min

MFDA seeks changes to its investigative powers

The proposals would harmonize rules with IIROC The Mutual Fund Dealers Association of Canada (MFDA) is proposing rule changes designed to...

Mar 6, 2019
2 min

MFDA warns dealers about conflicts created by fundco promos

A review of dealers’ policies on promotional incentives reveals gaps and shortcomings Mutual fund dealers must step up efforts to prevent...

Feb 8, 2019
4 min

45-325 Filing Requirement and Fee Payable for Exempt Distributions involving Fully Managed Accounts

This notice is intended to clarify when Form 45-106F1 Report of Exempt Distribution (Form 45-106F1) of National Instrument 45-106...

Dec 7, 2018
2 min

Securities market fee changes to support stronger enforcement and regulatory innovation

he British Columbia Securities Commission (BCSC) is increasing fees to bolster the commission's ability to carry out its mandate to...

Nov 28, 2018
3 min

BCSC Executive Director alleges scheme by self-described consultants

The Executive Director of the British Columbia Securities Commission (BCSC) has temporarily prohibited a group of purported consultants...

Nov 9, 2018
2 min

Investors support proposed IIROC enforcement alternatives, survey finds

The majority of respondents said the proposed fines for minor rule violations were too low and should be raised A majority of Canadian...

Nov 9, 2018
2 min

OSC launches task force to lighten regulation

Creation of internal group reflects shift in approach toward securities regulation by OSC and the provincial government The Ontario...

Oct 30, 2018
2 min

Don’t miss OBSI’s guidelines on membership fees

The Ombudsman for Banking Services and Investments (OBSI) has announced that the payment deadline of membership fees for fiscal 2019 will...

Oct 2, 2018
2 min

CSA’s new rules enhance custody requirements on EMDs

The rule amendments address risks that may arise when firms not regulated by IIROC or the MFDA are involved in the custody of client...

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