Compliance

In-house counsel can’t blow the whistle: OSC

When it comes to whistleblowers, the OSC wants to make clear that in-house counsel aren’t eligible for rewards. Read: How to blow the whistle The commission has published a proposed change to its whistleblower program, with a 60-day comment period. The whistleblower program already excludes those who obtained information while providing legal services to the […]

By Staff |January 18, 2018

1 min read

Industry

IIROC fines rep $90K for failure to address conflict and client complaint

Commissions influenced his recommendations

By Staff |January 11, 2018

1 min read

Advisor's Edge Report

Coming soon: MFDA continuing education

If you’re an MFDA advisor, expect a published rule on continuing education (CE) requirements late this year or early 2018. Read: IIROC continuing education rules are here The self-regulatory organization (SRO) aims for CE requirements “to establish minimum standards for individuals to keep their industry knowledge current and maintain a high standard of professionalism.” Before […]

By Michelle Schriver |December 15, 2017

5 min read

Industry

Comply with OBSI, say regulators

CSA, IIROC and the MFDA have released a joint notice, Complying with requirements regarding the Ombudsman for Banking Services and Investments. The notice highlights concerns about some registered firms’ complaint handling systems and participation in OBSI’s services, and sets out potential regulatory responses. In the notice, the regulators say that, though OBSI’s compensation recommendations aren’t […]

By Staff |December 7, 2017

1 min read

How to make yourself invulnerable to liability

Keeping abreast of your client obligations is no easy feat, and following proposed legislation—like Finance’s tax reforms for businesses—adds to the burden. If the department’s reforms are passed, your business-owning clients might require new planning. If you don’t inform them of the changes in a timely manner, could you be held liable? “It’s completely settled […]

6 min read

BCSC bans, fines two for market manipulation

A British Columbia Securities Commission (BCSC) panel has fined and permanently banned David Tuan Seng Lim and Michael Mugford from B.C.’s capital markets for market manipulation. Lim, a Vancouver resident, was an investment advisor who was registered under the Securities Act during the relevant period. Mugford was a Lions Bay, B.C. resident who was a […]

By Staff |October 26, 2017

2 min read

CSA to examine director and audit committee independence

CSA has launched a consultation on its approach to director and audit committee member independence. Consultation paper 52-404 Approach to director and audit committee member independence, published Thursday, outlines key historical developments related to CSA’s corporate governance regime, sets out its approach to determining director and audit committee member independence, and describes the approaches to […]

By Staff |October 26, 2017

1 min read

Former equity firm partner billed clients for vacations, clothing: SEC

The Securities and Exchange Commission today charged Mohammed Ali Rashid, a former senior partner at Apollo Management L.P., with defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures, including his family vacations, visits to a hair salon, and purchases of designer clothing and high-end electronics. The SEC’s complaint alleges Rashid […]

By Staff |October 26, 2017

2 min read

Compliance

In-house counsel can’t blow the whistle: OSC

IIROC fines rep $90K for failure to address conflict and client complaint

Coming soon: MFDA continuing education

Comply with OBSI, say regulators

How to make yourself invulnerable to liability

Why to report outside business activities

An algorithm may decide your next compliance review

BCSC bans, fines two for market manipulation

CSA to examine director and audit committee independence

Former equity firm partner billed clients for vacations, clothing: SEC