Submitted by nsscadmin on
Our latest regulatory review looks at all regulatory releases and notices issued by the Nova Scotia Securities Commission and the Canadian Securities Administrators (CSA) since February. In case you missed any of the releases or notices issued over that time, here is a quick rundown on what they mean for issuers, investment firms and investors and the links to the documents, with full details.
February 12, 2026 - CSA publishes 2025 Systemic Risk Committee Annual Report
The CSA published its 2025 Systemic Risk Committee Annual Report on Capital Markets – an analysis of recent financial market trends, emerging risk areas, and potential vulnerabilities in Canadian capital markets. The report also outlines some of the CSA’s efforts to mitigate those vulnerabilities and associated risks.
February 19, 2026 - Canadian securities regulators announce amendments to strengthen assurance report requirements for designated benchmarks
The securities regulatory authorities of British Columbia, Alberta, Saskatchewan, Ontario, Québec, New Brunswick, Nova Scotia, Yukon and Northwest Territories announced the adoption of final amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators and related final changes to its companion policy.
March 19, 2026 - Canadian securities regulators announce adoption of semi-annual financial reporting pilot
The CSA announced the adoption of a pilot project to allow eligible venture issuers to voluntarily adopt a semi-annual financial reporting framework (the SAR Pilot), subject to the terms and conditions in Coordinated Blanket Order 51-933 Exemption to Permit Semi-Annual Reporting for Certain Venture Issuers (the Blanket Order).
March 31 - CSA invites stakeholders to participate in tokenization initiative
The CSA launched an initiative to examine the potential for tokenized financial products in the capital markets and is inviting interested parties to the upcoming workshops taking place in Calgary and Toronto on this market innovation.
April 2 - Canadian securities regulators report on key oversight activities of CIRO and CIPF
The CSA published a report outlining key oversight activities for the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF).
April 2 - Prediction markets: CSA and CIRO remind industry and investors of the current rules
Given the growing interest in prediction markets in Canada, the CIRO want industry and investors to be aware of the applicable requirements governing prediction markets and event contracts (also known as prediction contracts and forecast contracts).
April 9 - CSA publishes proposed amendment to insider reporting requirements for comment
The CSA published a notice and request for comment on a proposed amendment to Part 9 of National Instrument 55-104 Insider Reporting Requirements and Exemptions.
The Joint Forum of Financial Market Regulators concluded its Annual Meeting held this year in Montreal, Quebec on April 15th. The Joint Forum brings together members of the Canadian Council of Insurance Regulators (CCIR), the Canadian Securities Administrators (CSA), the Canadian Association of Pension Supervisory Authorities (CAPSA) and includes representation from the Canadian Insurance Services Regulatory Organizations and the Mortgage Brokers’ Council of Canada.
April 23 - CSA announces adoption of final amendments to trading fee caps charged by marketplaces
The CSA announced the adoption of final amendments to National Instrument 23-101 Trading Rules and changes to Companion Policy 23-101 Trading Rules.
April 28 - CSA publishes Oversight Review Report of Canadian Investor Protection Fund
The CSA published the Oversight Review Report of the Canadian Investor Protection Fund (CIPF). The report evaluates whether CIPF has complied with the terms and conditions of its approval orders, and whether regulatory processes are effective, efficient, and applied consistently and fairly. CSA staff completed a risk-based oversight review of CIPF that targeted specific processes within the following functional areas: Corporate Governance and Financial.
April 30 - CSA issues temporary exemptions from collection of certain personal registration information
The CSA published Coordinated Blanket Order 33-930 Exemptions from Requirements to Submit Certain Personal Information, which provides temporary exemptions under National Instrument 33-109 Registration Information.