Submitted by nsscadmin on
After a quiet July there were several notices and release issued by the CSA and NSCC over the last two months. In case you missed any of these releases or notices here’s a quick rundown on what they meant for issuers and investors and links to the documents, where you can find the full details. This review covers all notices and releases issued in August and September.
August 12 - Canadian securities regulators to host roundtable on the proposed Derivatives Business Conduct Rule
The Canadian Securities Administrators announced it will host a virtual roundtable on the proposed derivatives business conduct rule, the CSA’s next step towards modernizing the regulatory framework for the OTC derivatives market in Canada. The roundtable will be held on September 28, 2022 from 10:00 a.m. – 12:00 p.m. ET.
August 16 - Canadian securities regulators expect commitments from crypto trading platforms pursuing registration
The Canadian Securities Administrators provided an important update to crypto trading platforms that continue to operate in Canada while they take steps to comply with applicable securities legislation.
CSA members now expect such platforms to provide a pre-registration undertaking to their principal regulator to continue operations while their application is reviewed. By giving these undertakings, crypto trading platforms agree to comply with terms and conditions that address investor protection concerns and are consistent with requirements currently applicable to registered platforms.
August 26 - Canadian securities regulators issue warning about suspicious e-mails
The Canadian Securities Administrators began monitoring its systems for unusual activities after several market participants received e-mails that purport to come from CSA members’ staff.
September 8 - Canadian securities regulators adopt streamlined capital-raising option for Canadian-listed issuers
The Canadian Securities Administrators (CSA) is adopting a new prospectus exemption for issuers listed on a Canadian stock exchange, aimed at providing a more efficient way for them to raise capital.
September 13 - Settlement Agreement Approved for Maritra Trading Services Inc.
The Nova Scotia Securities Commission approved a settlement agreement with Maritra Trading Services Inc. (“Maritra”). Maritra is a federally incorporated company with a registered head office in Halifax, Nova Scotia. Maritra is engaged in the business of proprietary day trading on Canadian securities markets and has approximately 66 proprietary traders, most of whom are located in China.
September 22 - Canadian securities regulators initiate review of the distribution of mutual fund securities through a principal distributor
The Canadian Securities Administrators (CSA) is reviewing the practices of mutual funds that have principal distributor relationships with registrants to distribute their securities. This is in alignment with the CSA’s 2022-2025 CSA Business Plan, which includes assessing whether additional mutual fund sales practice rule modernization is needed to improve investor protection and maintain investor confidence in our capital markets.
September 27 - Canadian securities regulators propose amendments to implement an access-based model for investment fund reporting issuers
The Canadian Securities Administrators (CSA) published proposed amendments that would provide an alternative to delivering financial statements and management reports of fund performance for investment fund reporting issuers