The Canadian Investment Regulatory Organization (CIRO) posted the 2026 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.

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The Canadian Securities Administrators (CSA), working with the Canadian Investment Regulatory Organization (CIRO), announced early results from a new program aimed at stopping fake investment websites that target Canadians. While the initiative results in the rapid deactivation of many risky sites, officials are urging Canadians to report any suspicious websites to their local securities regulator.

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The Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) issued new guidance for financial content creators, or “finfluencers.” The guidance helps influencers and the firms they collaborate with navigate and comply with securities laws when sharing investment-related information online.

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The British Columbia Securities Commission (BCSC) released its annual compliance report, outlining key deficiencies. The report summarizes findings from reviews of registrants’ know-your-client (KYC), know-your-product (KYP) and suitability determination practices, and provides guidance from the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO).

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The Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) have released the results of a second review of registrants’ compliance with the Client Focused Reforms (CFRs). This Phase 2 sweep assessed 105 firms’ compliance with the KYC, KYP, and suitability requirements, following an earlier review focused on conflicts of interest.

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The Canadian Investment Regulatory Organization (CIRO) has introduced InnovateSafe, a new regulatory sandbox that enables CIRO-regulated firms to test emerging products and technologies in a controlled, supervised environment. InnovateSafe will help firms develop compliant, market-ready solutions by providing temporary approvals and, when appropriate, targeted exemptive relief.

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The Canadian Investment Regulatory Organization (CIRO) plans to release the final version of its proposed consolidated rulebook in February 2026 and will extend the public comment period. The organization will allow a 120-day comment period, giving dealers additional time to review the full proposal.

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The Ontario Securities Commission (OSC) has outlined its priorities for 2026–2027, seeking comments by January 12, 2026. The plan targets emerging risks like AI and crypto, boosts investor protection with a new ombudsman service and tighter sales oversight, and aims to crack down on fraud and online scams. The OSC also plans to streamline rules,  and strengthen its influence in national and global policy.

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The Canadian Securities Administrators (CSA) are proposing new rules to help investment funds manage liquidity risk and meet investor redemption demands. Open for comment until March 27, 2026, the proposals would require funds to implement a liquidity risk management framework with operational and oversight standards.

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On November 27, 2025, the CSA announced it will end the temporary exemption that let exempt market dealers (EMDs) join selling groups in prospectus offerings. By October 20, 2025, only three EMDs filed the required forms, and only two joined two offerings each. The CSA now seeks feedback to understand the low participation. Comments are open until January 26, 2026.

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