The Canadian Investment Regulatory Organization (CIRO) has released details of InnovateSafe, a new regulatory sandbox designed to help eligible firms test innovative products, services, and technologies under regulatory oversight.

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The The Insurance Council of British Columbia (ICBC) is consulting on new licensing rules for 18 types of businesses that sell insurance incidentally, including mortgage brokers and auto dealers. The regulation, effective Jan. 1, 2027, will expand licensing beyond travel insurance and require businesses to represent at least one insurer. Proposed application fees would be capped at $1,000. The consultation runs until April 27, 2026.

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The Canadian Investment Regulatory organization (CIRO) will assume expanded regulatory authority over mutual fund dealer representatives in Québec, following the sanction of Bill 16, as announced by the Autorité des marchés financiers (AMF). The new functions will take effect by July 4, 2026, supporting harmonized regulation across Canada.

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The Canadian Securities Administrators (CSA) have approved the Canadian Investment Regulatory Organization’s (CIRO) proposed amendment to the Approved Person Fees component of the Annual Dealer Member Fee Model. The amendment increases the fee from $250 to $300 per Approved Person. The proposal will take effect on April 1, 2026.

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The Office of the Superintendent of Financial Institutions, (OSFI) has launched a nine-month consultation to update accountability and suitability standards for senior leaders at federally regulated financial institutions. The proposed principles-based framework aims to strengthen governance and manage growing risks in an increasingly complex financial system, with consultations open until October 31, 2026.

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The Canada Revenue Agency (CRA) announced it will reverse its longstanding administrative position on the GST/HST treatment of trailing commissions, effective July 1, 2026. Under the new position, trailing commissions will be subject to GST/HST. Firms will need to update accounting systems and contracts.

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The Canadian Securities Administrators announced final amendments to streamline continuous disclosure requirements for investment funds, reducing regulatory burden while maintaining investor protections. Key changes include conflict-of-interest reporting exemptions, removal of certain financial disclosures, and minor updates to the simplified prospectus form. The changes take effect April 22, 2026.

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The Canadian Investment Regulatory Organization (CIRO) unveiled its proficiency model, shifting from the traditional course-based system to a competency-focused assessment approach. It is now administering the first official exams under this new model through a dedicated exam and platform partner.

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Canadian securities regulators approved the first phase of amendments to the CIRO continuing education requirements. The amendments affect CE programs under CIRO’s Investment Dealer, Partially Consolidated, and Mutual Fund Dealer rules with minimal impact firms and registrants.

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The Financial and Consumer Services Commission of New Brunswick (FCNB) announced that, starting January 1, 2026, New Brunswick will require anyone using the title financial advisor or financial planner to meet new standards and undergo supervision by approved credentialing bodies. Financial advisors must comply by January 1, 2028, and financial planners by January 1, 2030.

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