The Canadian Investment Regulatory Organization’s (CIRO) has proposed a set of proposed reforms to its investment dealer arbitration program and extending to the mutual fund dealer sector. The proposed changes would enhance the accessibility, efficiency and transparency of the arbitration process for both investors and dealers. The new consultation is out for comment until January 31, 2025.

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The Ontario Securities Commission (OSC) has released findings from a study, which highlights the challenges faced by retail investors, in evaluating the ESG attributes of investment funds and how the lack of standardization in these ratings, impact investor decisions. The study shows that ESG ratings, may have a major influence on fund selection among retail investors, ranking second only to a fund’s past performance.

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The Financial Transactions and Reports Analysis Centre of Canada, (FINTRAC) has issued a special bulletin to warn banks and securities dealers about the risks of illicit activity involving legal professionals. FINTRAC lists activities such as the misuse of client or trust accounts, real estate purchases, and the creation and management of companies and trusts as potential risks and it details red flags for industry firms to watch out for.

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The Canadian Investment Regulatory Organization (CIRO) is republishing for public comment, its Proposal on Distributing Funds Disgorged and Collected through New SRO Disciplinary Proceedings to Harmed Investors (Proposal) as Notice 23-0010. No formal process currently exists for returning money to harmed investors. Comments should be submitted CIRO in writing, by January 20, 2025.

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The Canadian Investment Regulatory Organization (CIRO) has published Phase 4, of proposed harmonized dealer rules, for comment. The latest phase focuses on rules relating to approval and proficiency for individuals, managing significant areas of risk, and business conduct and client accounts rules. The comment period runs until February 4, 2025.

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The Office of the Superintendent of Financial Institutions (OSFI) published its 2023-24 Annual Report, which highlights key accomplishments over the past year as well as its 2024-2025 Departmental Plan. Looking ahead, OSFI’s 2024-2027 Strategic Plan outlines six priorities: expanded mandate, supervisory renewal, culture initiatives, data management, critical functions and operational resilience.

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The Ontario Securities Commission (OSC) has released a consultation paper proposing the creation of a new type of investment fund category, the Ontario Long-Term Asset Fund (OLTF), to expand retail investor access to illiquid long-term assets, such as infrastructure projects. The proposal is out for comment until February 7, 2025.

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The Canadian Investment Regulatory Organization (CIRO) is proposing amendments to the client reporting requirements in CIRO Rules. The proposals aim to harmonize its cost reporting rules with the Canadian Securities Administrators (CSA) new total cost reporting rules. CIRO’s proposals are out for comment until January 8, 2025.

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The Ontario Securities Commission (OSC) has published a new report, Gamification Revisited: New Experimental Findings in Retail Investing that studied the impact of gamification on investors. The OSC also launched a new tool, GetSmarterAboutTrading.ca, allowing users to test and better understand their potential influence on trading decisions, through a simulated stock market.

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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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