Compliance

Former IIROC rep faces $25,000 fine, $22,000 disgorgement

On November 3, 2016, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement, with sanctions, between IIROC staff and Nadir Janmohamed.

By Staff |November 25, 2016

2 min read

Industry

CSA’s one-size-fits-all proposal is short-sighted, say industry comment letters

Firms and advisors require flexibility to serve different clients. That’s the emerging theme in comment letters from investment houses on CSA’s proposed targeted reforms and best interest standard. In a comment letter, four partners from Borden Ladner Gervais (BLG) sum up the consensus: “A one-size-fits-all regulatory regime does not recognize different […] business models and […]

November 25, 2016

5 min read

Industry

MFDA too lenient on pre-signed forms, going after dealer members

A CSA review found shortcomings in regulatory processes.

By Staff |November 21, 2016

2 min read

Industry

Compliance officers targeted for enforcement

Expect more enforcement actions on compliance officers.

November 18, 2016

2 min read

Guidance for portfolio managers working with investment dealers

The Canadian Securities Administrators (CSA) today published CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members. The notice provides information and guidance for CSA-regulated portfolio managers who enter into custody and trading arrangements with dealer members of the Investment Industry Regulatory Organization of Canada (IIROC). Read: IIROC fines Edward […]

By Staff |November 17, 2016

1 min read

IIROC proposes requirements for order execution only firms

IIROC today published for comment proposed guidance setting out expectations and requirements for all IIROC-regulated firms engaged in order-execution only (OEO) activities. OEO firms provide investors who are comfortable making their own investment decisions with a low-cost alternative to the traditional advisory account. When an OEO firm accepts a client order without providing a recommendation, […]

By Staff |November 3, 2016

1 min read

Proxy voting protocols generate comments for automation

01 Proxy voting commentary Comments were received over the summer on CSA Multilateral Staff Notice 54-304, the final report on the review of proxy voting and request for comments. The notice proposes protocols for counting shareholder proxy votes. Proxy voting is “an important and fundamental right,” says Gordon Raman, a partner at Borden Ladner Gervais […]

October 28, 2016

4 min read

Regulatory comments debate trading rule cap levels

01 No surprises in latest NI 31-103 proposals In July, CSA published for comment proposed amendments to NI 31-103—Registration Requirements, Exemptions and Ongoing Registrant Obligations and its companion policy. These follow 2013’s CRM2 amendments (phased in over the last three years) and the October 2014 amendments (most of which became effective on January 11, 2015). […]

October 21, 2016

4 min read

Compliance

Former IIROC rep faces $25,000 fine, $22,000 disgorgement

CSA’s one-size-fits-all proposal is short-sighted, say industry comment letters

MFDA too lenient on pre-signed forms, going after dealer members

Compliance officers targeted for enforcement

Guidance for portfolio managers working with investment dealers

In the advisory world, size matters

IIROC proposes requirements for order execution only firms

Proxy voting protocols generate comments for automation

Raymond James acquisitions push revenues, AUA to records

Regulatory comments debate trading rule cap levels