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.

SEE MORE

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.

SEE MORE

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.

SEE MORE

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.

SEE MORE

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.

SEE MORE

The Canadian Investment Regulatory Organization (CIRO) is proposing rule changes, to harmonize the two continuing education (CE) requirements currently under the Investment Dealer Partial Consolidated (IDPC) Rules and the Mutual Fund Dealer (MFD) Rules. CIRO is taking a phased approach. Comments must be submitted in writing, by email only, by March 18, 2025.

SEE MORE

The Financial Services Regulatory Authority of Ontario (FSRA) released their Market Conduct: Life and Health Insurance Agent Supervision Report. Reviews of life agents in Ontario, have uncovered a high incidence of failure to adhere to best business practices. Common types of misconduct cited in the misconduct reports related to unethical behaviour and trustworthiness.

SEE MORE

A reminder to all dealers, of the Canadian Investment Regulatory Organization’s (CIRO) December 31, 2024, deadline to update all required membership disclosures and brochures with CIRO branding and to provide the new CIRO Complaints Brochure.

SEE MORE

The Stephanie McManus Award was presented to Mary Andrews, for her outstanding contributions to the ACCP in 2024. The award was renamed to honour the memory of long time ACCP member and former ACCP Chair, Stephanie McManus. Congratulations, Mary!

The Canadian Securities Administrators (“CSA”) have recently provided clarification on the application of existing securities laws to AI systems in Staff Notice and Consultation 11-348. The notice seeks whether future reforms will be needed to specifically address AI risks. The deadline for responding to the consultation is March 31, 2025.

SEE MORE