news and outreach

OSC publishes report examining the state of AI in the capital markets

The Ontario Securities Commission (OSC) published a report exploring the use of artificial intelligence (AI) in Ontario’s capital markets. The report highlights current AI use cases, benefits and challenges, and aims to raise awareness of both the opportunities and risks associated with the use of AI in capital markets.

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OSC climate-first approach outlined in new publication

The Ontario Securities Commission (OSC) issued a report titled Insights on the OSC Staff’s Approach to Sustainable Finance. The report outlines the OSC’s future plans and its ongoing work in sustainable finance. The OSC’s approach aims to provide insight to a range of sustainability issues. It also aligns with the OSC’s newly announced strategic plan, annual priorities, and core mandate.

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CIRO issues Investor Alert: Recovery scams on the rise

The Canadian Investment Regulatory Organization (CIRO) is warning investors of the increased frequency of fraudsters impersonating CIRO. The fraudsters claim to be a CIRO employee and offering to assist investors in recovering funds that have been lost in previous scams after the victim pays a processing fee. This is referred to as an investment recovery scam.

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CSA extends Crypto firms deadline to address investor protection concerns

The Canadian Securities Administrators (CSA) are extending the deadline for crypto platforms to rein in trading of unregulated stablecoins, that are tied to the value of a traditional currency. The original deadline of April 30, 2024, was pushed back to October 31. 2024, and now, the regulators are giving the crypto industry until December 31, 2024, to comply.

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OSC report shows growing threat of AI-driven investment scams

The Ontario Securities Commission (OSC) has released ‘Artificial Intelligence and Retail Investing: Scams and Effective Countermeasures,’. The study found AI-enhanced scams pose greater risks to investors than conventional scams, as it enables schemes involving deepfakes and voice cloning. The study also explored methods to safeguard investors from AI-enabled fraud and flag potential fraud.

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CIRO Update on Website Consolidation, Phase 2 & Ordering Brochures

CIRO has provided an update on their website consolidation project. The Member sections of the legacy MFDA and IIROC and the Markets section found on the IIROC website, have been migrated. Member-related content has been organized into two sections: For Firms and For Registered Individuals. A Webcast Catalogue for Approved Persons to obtain Continuing Education (CE) credits is also available.

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CIRO Webcast: CFRs, COI & Joint Sweep CSA/CIRO Report

CIRO’s webcast provides an overview of the conflicts of interest (COI) requirements in the Client Focused Reforms (CFR) that came into force on June 30, 2021. The webcast summarizes the joint regulatory sweep conducted by the Canadian Securities Administrators (CSA), IIROC, and the MFDA, of firms’ COI practices. This webcast is one of the two mandatory compliance credits for the MFD CE Program for the 2023-2025 cycle.

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CSA & CIRO assess impact of US market rule changes on inter-listed securities

In keeping pace with the U.S. market reforms, the Canadian Investment Regulatory Organization (CIRO) and the Canadian Securities Administrators (CSA) have initiated a process to evaluate their potential impact on the Canadian equity market structure following the release on recent rule changes announced by the United States Securities and Exchange Commission (SEC).

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The information contained on the Association of Canadian Compliance Professionals (“ACCP”) website is for general information purposes only and is the opinion of the writer(s). This information is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. We strongly recommend that you seek appropriate, qualified professional advice before acting or omitting to act based on any information provided on the ACCP website.

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