The Canadian Investment Regulatory Organization (CIRO) is working to help investment dealers, keen to take part in the federal government’s effort to facilitate banking sector innovation through “open banking,” expected to launch in early 2026. CIRO aims to clarify the framework, including accreditation, regulatory oversight, and compliance expectations within the existing securities framework.

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The Canadian Investment Regulatory Organization (CIRO) has released its Annual Compliance Report 2025, providing guidance on emerging challenges, helping dealers align their risk-management and supervisory efforts with regulatory expectations. The report highlights several areas of concern, notably the role of technology in investment operations and the associated risks.

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The Investment Funds Institute of Canada (IFIC) released its 2024 Investment Funds Report, offering data and comprehensive analysis of mutual fund and ETF sales and assets under management as well as industry trends.

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The Canadian Securities Administrators (CSA) approved the Canadian Investment Regulatory Organization’s (CIRO) proposed new integrated fee model. The new integrated model is being adopted to introduce, a consistent and harmonized approach to collecting fees. The new integrated model takes effect April 1, 2025, for fiscal year 2026 (ending March 30, 2026).

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The Financial Services Regulatory Authority of Ontario (FSRA) has begun consulting on a proposed rule for managing general agents (MGAs). The new proposed rule aims to enhance consumer protection and strengthen oversight of MGAs. FSRA said in a notice of the rule that it will use feedback to draft potential guidance. The consultation runs to March 31, 2025.

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The Canadian Investment Regulatory Organization (CIRO) announced the mutual fund Dealer Members transition from the Member Event Tracking System, (METS) to the Complaints and Settlement Reporting System, (ComSet) effective February 24, 2025. Required reporting of events by Mutual fund Dealer (MFD) Members, prescribed in MFD Rule 600, under CIRO rules.

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The Canadian Investment Regulatory Organization (CIRO) has introduced a funding initiative focused on supporting organizations dedicated to improving financial literacy and investor protection across Canada. The program seeks to empower non-profit and charitable organizations serving underserved communities.

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The RCMP announced the launch of a pilot national special advisory group, to provide real-time expert advice on investigations at the RCMP’s Integrated Market Enforcement Team (IMET) offices for a 12-month pilot period. The IMET teams that drive the investigations, include police officers, forensic accountants, lawyers and other investigative experts.

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The Canadian Investment Regulatory Organization (CIRO) posted the 2025 Mutual Fund Dealer (MFD) Financial Filing Deadlines. MFDs are required to file an unaudited Form 1, no later than 20 business days after the month-end and an audited Form 1 no later than 90 days after the MFD’s fiscal year-end. Please note, delays in the EFS-IFRS electronic filing will trigger a late filing fee.

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The Canadian Investment Regulatory Organization (CIRO) posted the Monthly Financial Report (MFR) filing deadlines for 2025. The dates are based on a 20-business day reporting cycle, taking into consideration Canadian and Provincial statutory holidays. Delays in the SIRFF electronic filing will trigger a late filing fee of $100 per calendar day.

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