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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.
May 4, 2026 Regulators and audit leaders discuss audit quality and confidence in Canada’s financial reporting
The Office of the Superintendent of Financial Institutions (OSFI), together with the Canadian Public Accountability Board (CPAB) and the CSA co-hosted a roundtable that brought together senior representatives from audit firms, accounting professional bodies, standard setters, and regulators.
The CSA published a Notice and Request for Comment related to proposed amendments and changes to enhance the Canadian issuer bid, take-over bid, and beneficial ownership reporting regimes.
June 11, 2026 - Canadian securities regulators publish final amendments to the principal distributor model
The CSA announced the publication of final amendments to the principal distributor model in the distribution of mutual fund securities. The changes are intended to improve investor protection and help maintain investor confidence in Canada’s capital markets.
June 22, 2026 - CSA and CIRO to delay implementation of final amendments to access fee and tick-size rules
The CSA and the Canadian Investment Regulatory Organization announced they will be delaying the implementation of final amendments to access fee and tick-size rules, which were to come into force on November 2, 2026.
The CSA published in final form amendments and changes to implement an access model for certain continuous disclosure documents of reporting issuers, other than investment funds (the Access Model).
July 9, 2026 – CSA Market update
The CSA, which has oversight of the Canadian Investment Regulatory Organization (CIRO), informed stakeholders of a recently published CIRO Bulletin: Rule amendments relating to the proposed adoption of an Incorporated Approved Person compensation option. The CIRO proposal is open for public comment until November 6, 2026
July 15, 2026 - CSA publishes updated cybersecurity findings and guidance for registered firms
The CSA published CSA Staff Notice 33-322 Review of Registered Firms’ Cybersecurity Practices and Additional Guidance. The Notice followed a focused compliance examination sweep of 73 registered firms’ cybersecurity practices and sets out observed practices, identified gaps, and updated guidance to support firms in strengthening their cybersecurity frameworks.
July 16, 2026 - CSA seeks comment on modernizing the regulation of public companies
The CSA published a consultation paper seeking stakeholder input on potential ways to modernize securities legislation for public companies
July 23, 2026 - CSA proposes to codify higher limits for listed issuer financing exemption after strong uptake
The CSA is seeking to codify increases to the amount of funds that qualified listed issuers can raise without a prospectus, as the initiative continues to demonstrate strong uptake and effectiveness in supporting capital-raising in Canada while maintaining investor protection.