news and outreach

AMF consults on total cost reporting for seg funds

Under the joint total cost reporting initiative of the insurance and securities regulators, the Autorité des marchés financiers (AMF) has published proposals to introduce beefed-up reporting requirements for segregated funds. The new rules are to take effect on January 1, 2026, with investors receiving their first reports for the year ended December 31, 2026.

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Organizations team up on ESG definitions to fight greenwashing

The CFA Institute, the Global Sustainable Investment Alliance (GSIA) and Principles for Responsible Investment (PRI) have developed a new resource to define five common terms used in responsible investing. The new resource comes as regulators around the world develop ESG disclosure rules for the fund industry.

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High-Interest Savings Account ETFs now subject to stricter liquidity rules

The Office of the Superintendent of Financial Institutions (OSFI) is raising liquidity requirements for high-interest savings account (HISA) ETFs. OSFI said that banks holding deposits for HISA funds will have to hold sufficient high-quality liquid assets, that can be withdrawn within 30 days. The liquidity treatment must be in place by January 31, 2024.

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Mutual Fund Dealer CE Cycle 1, ending November 30, 2023

The Mutual Fund Dealer CE Program will be ending on November 30, 2023. Program Administrators can access the Compliance Status section of the CERTS dashboard to view and export reports on the progress of Participants, to identify and follow-up with Participants who have not met their CE credit requirements, under Policy 9.

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Ontario legislative changes propose quicker consultations for OSC and FSRA

Legislative revisions proposed by the Ontario government, seek to cut Ontario Securities Commission (OSC) and Financial Services Regulatory Authority of Ontario (FSRA) regulatory policy proposals minimum comment periods, from 90 days to 60 days. The proposed legislative change is now out for comment until December 4, 2023.

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CIRO takes step toward consolidated dealer rules

CIRO is publishing Phase 1 of its Rule Consolidation Project rule proposals for comment. The Project will harmonize the two-member regulation rule sets into one set of member regulation rules, applicable to both categories of CIRO Dealer Members. The proposals are out for comment until December 19, 2023.

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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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