OSC delegates registration-related powers and duties to CIRO
The Ontario Securities Commission (OSC) announced that it has delegated the registration function for firms registered as investment dealers, mutual fund dealers and futures commission merchants, and the individuals who act on their behalf, to the to the Canadian Investment Regulatory Organization (CIRO), effective April 1, 2025.
FP Canada grows its CE business
FP Canada is announced a partnership with Aviso, a leading wealth services supplier, growing its continuing education (CE) business. Course accreditation fees for other CE providers will be raised. Some education providers say the result will be less choice and educational gaps.
IFSE Institute shutting down operations
The Investment Funds Institute of Canada’s (IFSE) educational arm, the IFSE Institute, will shut down on June 30, 2025. Students taking courses for mutual fund or exempt market proficiency, can register in equivalent courses with the Canadian Securities Institute. IFSE students in the life license qualification program (LLQP) will be transferred to SeeWhy Financial Learning Inc.
Tools for Notifying CIRO of Business Changes
CIRO’s Dealer Rules, require dealers to provide CIRO with written notice, prior to any material changes to their business activities. A webcast outlining these tools and their benefits will also be made available soon.
OSFI is revising the capital, crypto and climate rules
The Office of the Superintendent of Financial Institutions (OSFI) released final guidance that sets out its approach to the treatment of banks’ crypto holdings in terms of both regulatory capital and liquidity requirements. The new guidance on crypto disclosure becomes effective in the first quarter of 2026.
CIRO to Consult on Consumer-Driven Banking Framework
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.
CIRO published its Compliance Report for 2025
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.
IFIC releases 2024 Investment Funds Report
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.
CSA approves new CIRO fee model
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).
FSRA consulting on new rule for MGAs
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.
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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