IFBC offers tips on E&O claims process amid regulatory fines increases
At their recent summit, the International Financial Brokers of Canada (IFBC) offered best practices for advisors. Amid higher regulatory fines and stricter monitoring, tips to advisors include documenting each client interaction, staying within their practice area and licensing limits and understanding when they need to report a claim for E&O insurance coverage.
OSC research finds companies paying more attention to AI
The Ontario Securities Commission (OSC) published the results of research carried out by its staff, to analyze the discussions of Artificial Intelligence (AI) tools in regulatory filings. The results of the analysis showed the number of issuers discussing AI in their MD&A increased significantly in their 2024 filings.
CIRO warns investors of fake GIC sites impersonating legitimate financial institutions
The Canadian Investment Regulatory Organization (CIRO) is warning investors about fraudulent websites promoting Guaranteed Investment Certificate (GIC) offers. Individuals who engage with these websites, risk serious financial loss. CIRO recommends that investors always verify the legitimacy of any financial offer through the official website of the financial institution.
CSA offer fund managers guidance on fund risk ratings
To assist in the future use of discretion to help fund managers set their funds’ investment risk classifications, the Canadian Securities Administrators (CSA) issued new guidance, which recommends that fund managers adopt specific policies and procedures on risk classification and the use of discretion.
CSA adopt changes to rules for crypto investment funds
The Canadian Securities Administrators (CSA) are adopting changes to the fund rules for crypto investment funds. The rules will now spell out criteria for the types of cryptoassets that regulated investment funds are allowed to hold. The rules will also establish custody requirements for cryptoassets and set restrictions on investing in crypto assets for crypto funds and traditional investment funds.
CIRO calls for applications for Proficiency Committee
The Canadian Investment Regulatory Organization (CIRO) is seeking applications for membership on the Proficiency Committee. The mandate of the Committee is to advise CIRO on matters relating to proficiency policy and operations. This includes matters relating to licensing standards and continuing education.
CIRO publishes Office of the Investor – Year in Review
The Canadian Investment Regulatory Organization (CIRO) has published the Office of the Investor – Year in Review. The Office of the Investor is responsible for researching investor attitudes, behaviours and experiences, delivering investor education, bringing the voice of Canadian investors to CIRO’s regulatory activities and supporting the work of the Investor Advisory Panel.
CIRO publishes CIRE syllabus and practice exam
In support of its proposed proficiency model, the Canadian Investment Regulatory Organization (CIRO) is publishing the Canadian Investment Regulatory Exam (CIRE) syllabus and practice exam, as a tool for education providers who may decide to offer preparatory courses for the proposed CIRE. Implementation of the proficiency model is contingent on the Canadian Securities Administrators (CSA) approval.
CIRO’s Retail Client Data Submission Project
The Canadian Investment Regulatory Organization (CIRO) will be issuing a mandatory data request to investment dealers and mutual fund dealers to provide detailed information on the investments held by their retail clients as December 31, 2026. More details on the submission process will be provided closer to the date of the submission, in 2026.
CIRO publishes 2025-26 Annual Priorities
CIRO released its Annual Public Priorities for Fiscal Year 2026 (April 1, 2025 to March 31, 2026). The Annual Priorities CIRO is focused on are developed across three key themes: Integration, Regulatory Delivery and Operations and Strategic Objectives. CIRO’s 2026 Annual Priorities mark the beginning of the second year of CIRO operations, guided by CIRO’s three-year Strategic Plan.
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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