On Tuesday 11 July 2023, we will be hosting a global webinar, focussing on asset management regulation, with perspectives from across the globe.
Our global financial services and regulation team will provide a global comparison on the asset management regulatory landscape across key jurisdictions including the UK, Europe, Asia, Australia and the US.
Our
In our latest asset management regulatory webinar, Michael Bunn discusses the use of Canadian investment funds by non-Canadian managers, including types of Canadian investment funds; structuring considerations; and the regulation of Canadian funds.
Previous webinars in our global asset management regulation series can be found on our Asset Management Regulation hub located on the
The April 2016 “Panama Papers” leak highlighted the attraction for transnational actors of the confidentiality available in certain offshore financial centres. Some of these jurisdictions have laws that make it a criminal offence for banks to disclose information about their clients, providing powerful protection for individuals and corporations who wish to keep their financial affairs
The Ontario Securities Commission (OSC) recently published proposed OSC Rule 32-505 – Conditional Exemption from Registration for United States Broker-Dealers and Advisers Servicing U.S. Clients from Ontario (the Rule).
The Rule provides exemptions from the relevant dealer and adviser registration requirements in Ontario for U.S. broker-dealers and U.S. advisers that are trading
Three recent settlement agreements highlight the need for non-Canadian individuals and entities to obtain Canadian legal advice prior to undertaking trading, advising or referral activities with Canadian residents.
Downing Settlement
The Investment Industry Regulatory Organization of Canada (IIROC) recently released the final version of Guidance Note 14-0299 (the Guidance), which sets out general principles and suggested practices for underwriters’ due diligence with respect to public securities offerings. IIROC issued proposed guidance on this subject on March 6, 2014 (the Proposed Guidance).
On July 16, the Investment Industry Regulatory Organization of Canada (IIROC) requested comments in Notice 14-0181 (the “IIROC Notice”) concerning how it determines the proficiency qualifications for its members’ personnel.
At the present time, a private organization, the Canadian Securities Institute (CSI), owned by Moody’s Corporation, is the exclusive course provider for IIROC regulatory courses. The CSI also administers the qualifying examinations. The CSI is bound by quality, service, pricing and reporting standards established with the IIROC. Unless renewed, the CSI contract with the IIROC is scheduled to terminate in January 2016. The IIROC is seeking comment on the existing model for delivering these services and alternatives arising from an analysis of the approaches used in other jurisdictions and under other regulatory regimes.
The IIROC Notice includes a comparison of the differing approaches used by the Financial Industry Regulatory Authority (FINRA), the securities industry self-regulatory organization in the United States and the Financial Conduct Authority (FCA) in the United Kingdom.