CSA publishes revised proposal to introduce binding authority for OBSI
The Canadian Securities Administrators (CSA) is seeking public comment on enhanced details of its proposed framework for an independent dispute resolution service, giving the Ombudsman for Banking Services and Investments (OBSI) binding authority in disputes between investors and their dealers. The comment period closes on September 15, 2025.
CIRO proposing 10-day standard for account transfer settlement
The Canadian Investment Regulatory Organization (CIRO) has released, for public comment, a set of proposed rule amendments aimed at modernizing requirements related to account transfers. The amendments aim to improve the efficiency, transparency, and consistency of the account transfer process across the investment industry. The submission deadline for comments, is October 8, 2025.
CIRO to mimic U.S. trading halts for CDRs and Single‑Stock ETFs
The Canadian Investment Regulatory Organization (CIRO) has introduced a new protocol to better align Canadian depositary receipts (CDRs) and single-stock Exchange-Traded Funds (ETFs) trading halts in Canada, with those in the U.S. listed on U.S. exchanges. CIRO will monitor U.S. exchange halt messages and may impose manual trading halts in Canada when appropriate.
Ontario streamlines licensing for out-of-province insurance advisors
Effective July 1, 2025, the Financial Services Regulatory Authority of Ontario (FSRA) has implemented a new licensing process for out-of-province insurance advisors, allowing them to begin working in Ontario almost immediately after submitting proof of a valid out-of-province license. This “express lane” is a result of recent legislation and aims to improve labour mobility within Canada.
AMF releases draft guideline on AI use by financial institutions
Québec’s Autorité des marchés financiers (AMF) has issued draft guidelines on Artificial Intelligence (AI) risk management for financial institutions. Requirements include maintaining a central AI directory, regular risk assessments, customer consent for data use, and explanations for AI decisions. The guidelines align with global standards and are open for comment until November 7, 2025.
Ontario amends delivery methods for OSC summons
As of July 1, 2025, the Ontario Securities Commission (OSC) can now electronically serve enforcement summonses, a move aligned with a 2021 recommendation by the Capital Markets Modernization Taskforce. This change comes as part of broader legislative updates to Ontario’s securities laws, aimed at making enforcement processes more efficient and reducing administrative hurdles in investigations.
Complaint and dispute resolution regulation exemption for CIRO Dealers operating in Quebec
Effective July 1, 2025, new Quebec legislation governing complaint handling came into force. This legislation applies to CIRO Dealers operating in Quebec and establishes new obligations regarding the treatment and resolution of client complaints. To support implementation and clarify the application of these new rules, the Autorité des marchés financiers (AMF) has issued Blanket Order No. 2025-PDG-0010.
CIPF releases 2024 Annual Report
The Canadian Investor Protection Fund (CIPF) has announced the release of its 2024 Annual Report, marking a significant milestone with the completion of its first post-merger 3-Year Strategic Plan. The report outlines progress made, strategic initiatives undertaken, and the organization’s vision for the future of investor protection in Canada.
CSA propose chargeback ban
The Canadian Securities Administrators (CSA) have released proposed amendments that would prohibit the use of chargebacks in the distribution of investment funds offered by prospectus. These proposed changes are currently open for public comment, during a 90-day consultation period, which will close on September 24, 2025.
CSA release 2025–2028 Business Plan
The Canadian Securities Administrators (CSA) has released its 2025–2028 Business Plan, outlining strategic priorities. Key focus areas include combating online investment fraud, strengthening oversight of crypto assets, and adapting to emerging technologies. The initiatives are designed to reflect current market conditions and the rapid pace of innovation in the financial sector.
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.
Member
Login
Contact
Us
Financial Accounting Services provided by Wallington Chong LLP, Chartered Accountants.