FP Canada and the Institute of Financial Planning, have introduced a new streamlined process, allowing Certified Financial Planner (CFP) professionals to seek the Financial Planner F.Pl. designation to practice in Quebec, while F.Pl. holders can pursue CFP certification and use the title ‘Financial Planner’ in Ontario and other provinces.

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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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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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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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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 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’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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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 Canadian Securities Administrators (CSA) have released a series of proposed amendments for public comment, aimed to improve reporting to investors while also easing the regulatory burden on the industry. The focus is to improve the quality of information provided to investors while also reducing the regulatory burden on investment fund managers. The comment period closes on January 17, 2025.

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The Canadian Investment Regulatory Organization (CIRO) has just published its second annual report, Annual Report for 2023-2024, along with its inaugural Investor Advisory Panel (IAP) Annual Report, highlighting the achievements and strategic initiatives for 2023-24. CIRO is almost two years old and says the past year has seen substantial progress in its aims to deliver efficient and cost-effective services.

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