As of April 1, 2015, the Government of Ontario is appointing new inspectors to enforce requirements under the Consumer Protection Act, 2002 (CPA). According to a March 26th press release, the newly appointed inspectors will take a more preventative and targeted approach to enforcement. The power to appoint these new inspectors comes from amendments to … Continue Reading
On March 31st, the Office of the Superintendent of Financial Institutions (OSFI) released its plans and priorities for 2015 and 2016. While the release contained many familiar themes, some of the plans and priorities are interesting because they signal a new focus for OSFI or a recommitment that may not have been expected. Institutions and … Continue Reading
The Autorité des marchés financiers (AMF), Quebec’s financial services regulator, has taken another step towards regulating virtual currencies such as Bitcoin. On February 12th, the AMF announced that it had amended its Policy Statement to the Money-Services Businesses Act (the Act) to provide that operators of automated teller machines (ATM) that allow for the purchase … Continue Reading
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). The Guidance is substantially … Continue Reading
2014 was another busy year for regulatory change for the financial services sector, and it appears that this pace is set to continue in 2015. Below is a description of some of the more important changes that are already on the books and coming into effect in 2015. Of course, other changes are likely to … Continue Reading
The federal government has tabled legislation that will overhaul the governance and oversight of payments systems in Canada. Bill C-43, referred to as the Economic Action Plan 2014, No. 2, contains amendments to both the Canadian Payments Act and the Payment Clearing and Settlement Act. The former Act regulates the Canadian Payments Association which runs … Continue Reading
On September 30th, Jeremy Rudin, the newly appointed Superintendent of Financial Institutions gave his first public address at a meeting of the Economic Club of Canada in Toronto. The speech presented the first opportunity to learn more about Rudin and the direction that he may take OSFI. His speech certainly left us with some food … Continue Reading
Each year, either independently or in collaboration with third parties, we produce and host dozens of educational events ranging from seminars and webinars to bespoke workshops and industry focused conferences. These events, which are held in Toronto, Calgary, Montreal, Ottawa and Quebec, typically focus on: Year in review – Recurring events where attendees are presented … Continue Reading