Compliance

IIROC’s new executor rule effective Oct. 6

Coming soon: The implementation of IIROC's new rules that restrict investment firm employees’ ability to act as power of attorney.

By Staff |April 6, 2017

1 min read

Industry

CSA seeking comment on OTC derivatives proposals

An extended comment period of 150 days is in effect.

By Staff |April 4, 2017

2 min read

Industry

IIROC permanently bans and fines rep $669,500

"Egregious" misconduct also garners fine of $200,000.

By Staff |April 3, 2017

1 min read

Industry

Updated: Ontario ready to shake up financial industry

Not familiar with the proposed changes? Time to check them out.

By Katie Keir |March 31, 2017

7 min read

Industry

Robos won’t replace you, Jensen tells advisors

Maureen Jensen, head of the Ontario Securities Commission, has faith that robo-advisor platforms will not replace human financial advice. “I don’t think they’re going to replace advisors,” Jensen told an audience of financial advisors on Thursday. “Advisors are a very important parts of this market. They’re critical for the interaction with clients. I think what […]

By Simon Doyle |March 31, 2017

2 min read

Industry

‘Disclosure is not a panacea,’ says IIROC head

In an industry where the definition of “financial advice” is becoming blurry, regulatory disclosure does not solve all issues, says Andrew Kriegler, president of IIROC. Regulators need to adapt faster to an environment where clients want more control over their investments and may perceive online products and services as offering them financial advice, Kriegler told […]

By Simon Doyle |March 31, 2017

3 min read

Industry

IIROC rep fined $100,000, suspended one month

On February 21, 2017, an IIROC hearing panel fined and suspended registered rep Richard Poirier. Poirier admitted facilitating a client’s investment in a private placement and accepting remuneration or a gratuity, benefit or other consideration from a person other than the dealer member with whom he was employed. Specifically, Poirier admitted to the following: The […]

By Staff |March 29, 2017

1 min read

Industry

OSC to define BIS, embedded commissions rules: draft priorities

The OSC has published for comment its 2017-2018 Draft Statement of Priorities.

By Staff |March 24, 2017

2 min read

Industry

SEC enforcement bracing for deep cuts: report

The SEC’s enforcement section is readying for big spending cuts under President Donald Trump, Bloomberg reports. The department responsible for investigating and enforcing federal securities law has already been told to cease non-essential travel, freeze hiring and stop using external contract assistance for cases, Bloomberg reports, citing unnamed sources. Read: Will Trump’s deregulation really matter? […]

By Staff |March 20, 2017

1 min read

Industry

CSA publishes guidance for disclosure by investment entities

The securities regulatory authorities in Ontario, Alberta and Saskatchewan have released CSA Multilateral Staff Notice 51-349, which summarizes key findings from an Ontario Securities Commission (OSC) staff review of the continuous disclosure of reporting issuers that meet the definition of an investment entity under International Financial Reporting Standards 10. These issuers are an emerging subsector […]

By Staff |March 16, 2017

2 min read

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