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.

SEE MORE

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.

SEE MORE

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.

SEE MORE

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.

SEE MORE

The Ontario Securities Commission (OSC) is seeking feedback on expanding retail access to illiquid, long-term asset funds, including disclosure challenges and barriers to holding them in RRSPs. The OSC also released consultation findings on its long-term asset fund (LTAF) initiative and asked various industry players what regulatory relief they would need.

SEE MORE

The Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) issued segregated funds guidance, setting national expectations for insurers, intermediaries, agents, and MGAs. The guidance addresses gaps in conduct standards for selling and servicing segregated funds.

SEE MORE

Advocis warns that the Financial Services Regulatory Authority of Ontario’s (FSRA) plans to reclassify thousands of small advisory firms as “Managing General Agents,” (MGA) adding fees and compliance rules that could raise costs and limit access to advice. The group is urging to delay the November 19, 2025 deadline and tighten the definition to affect only true MGAs.

SEE MORE

The CSA will raise system fees for the National Registration Database (NRD) over five years starting November 28, 2025. The increases are needed to fund national system operations, but no new fees will be added. The amendments simply raise the total fees collected, using the CSA’s existing flat per-filing model to ensure fair, transparent, and proportional cost recovery.

SEE MORE

The Canadian Securities Administrators propose updating National Instrument 52-112 to align with IFRS 18, effective January 1, 2027, in order to preserve key financial-measure disclosures while avoiding redundant reporting and lowering regulatory burden for Canadian issuers. The proposals are out for comment until February 11, 2026.

SEE MORE

The Ontario Securities Commission (OSC) is increasing oversight of the exempt market by publishing a “non-delivery” list that identifies issuers who fail to submit required annual financial statements, and by conducting compliance examinations of Exempt Market Dealers to ensure they have proper know-your-product controls when distributing securities from these non-compliant issuers.

SEE MORE