Financial Services Regulatory Financial Services Regulatory

Department of Finance proposes significant changes to federal financial institutions legislation and Criminal Code

The Department of Finance launched the third phrase of its review of the legislation governing Canada’s financial institutions.

The OSC’s new proposal to distribute funds from disgorgement orders to harmed investors

The Ontario Securities Commission (OSC) has published proposed rules that outline the procedure the OSC and harmed investors must follow for the...

B.C. Securities Commission issues first administrative penalty under new regime

On November 17, 2023, the B.C. Securities Commission (the BCSC) issued a $12,000 administrative penalty to Capstone Asset Management Inc. (Capstone)...

Incoming changes to consumer protection legislation in Ontario, New Brunswick and Newfoundland and Labrador

Ontario, New Brunswick and Newfoundland and Labrador have introduced new legislation to overhaul their respective consumer protection regimes. This...

Incoming changes to consumer protection laws: implications for financial service providers

Ontario, New Brunswick and Newfoundland and Labrador have introduced new legislation to overhaul their respective consumer protection regimes,...

OSFI to finalize risk management guidance covering the use of AI and machine learning within models

The OSFI is releasing an updated guidance on model risk management for financial institutions.

Extension and clarifications on the regulation of value-referenced cryptoassets

On April 17, 2024, the Canadian Securities Administrators announced an extension for crypto trading platforms dealing with value-referenced...

Budget 2024 proposes new reforms to combat financial crime in Canada

The federal government’s 2024 budget includes measures to combat financial crimes, with a particular focus on money laundering.

Are you a payment service provider? You may be subject to the new Retail Payment Activities Act

The Retail Payment Activities Act (RPAA) establishes a general supervisory framework for the regulation of payment service providers (PSPs). Under...

CIRO publishes proposals to level the advisor compensation playing field

Earlier this year, the Canadian Investment Regulatory Organization published a consultation paper outlining policy options that would help to level...