Registration and compliance (2024)

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Client Focused Reforms Oversight of registered firms Latest instruments, rules, policies and notices Latest orders, rulings and decisions

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Registration and compliance (1)

Client Focused Reforms

The Canadian Securities Administrators, along with the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, have established the CFRs Implementation Committee (the Committee) to consider and provide guidance on operational issues and questions shared by industry stakeholders relating to the implementation of the Client Focused Reforms.

We have published responses to questions received by the Committee to assist registrants as they prepare for the new requirements under the Client Focused Reforms and we will periodically publish responses to additional questions submitted to the Committee as we develop the guidance.

We encourage registrants to plan their transition to the new requirements now, so that they will be in compliance before the Client Focused Reforms come into effect.

Transitional Relief Related to the Elimination of the Deferred Sales Charge Option in respect of Client Focused Reforms

  • Notice of General Order – Transitional Relief Related to the Deferred Sales Charge Option in respect of Client Focused Reforms Enhanced Conflicts of Interest and Client First Suitability Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations
  • Ontario Securities Commission Ontario Instrument 31-514 Transitional Relief Related to the Elimination of the Deferred Sales Charge Option in respect of Client Focused Reforms Enhanced Conflicts of Interest and Client First Suitability Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations
  • CSA Notice 31-360 Blanket Orders/Class Orders in respect of Transitional Relief Related to the Deferred Sales Charge Option in respect of Client Focused Reforms Enhanced Conflicts of Interest and Client First Suitability Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

Registration and compliance (2)

See Also
How to Start a Hedge Fund – and Why You Probably Shouldn'tWhat is a Hedge Fund? Examples, Types, and StrategiesCan You Invest in Hedge Funds?How to Start a Hedge Fund in Canada

The Ontario Securities Commission (OSC) regulates firms and individuals who are in the business of advising or trading in securities or commodity futures, contracts and options, and firms that manage investment funds in Ontario. These firms and individuals are referred to as registrants.

The OSC also promotes compliance with the requirements ofOntario’s Securities Act and Commodities Futures Act, and any related rules and instruments. In addition, the OSC assists registrants to better understand and comply with their requirements.

Oversight of registered firms

The OSC oversees approximately 1,300 firms and 67,000 individuals in Ontario that trade or advise in securities, commodity futures contracts or options, or act as investment fund managers and monitors market participants for compliance with securities laws. Although the OSC registers firms in the categories of mutual fund dealer and investment dealer, these firms and individuals are directly overseen by their self-regulatory organization (SRO), Canadian Investment Regulatory Organization (CIRO) (formerly New Self-Regulatory Organization of Canada (New SRO)). The two predecessor SROs, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) amalgamated to continue as the New SRO, effective January 1, 2023, which subsequently changed its name to CIRO on June 1, 2023.

Getting registeredReview information about becoming a registered individual or firm, including identifying who needs to register, selecting a registration category, application forms and fees, and application review and approval.
Ongoing requirementsOnce approved, registered individuals or firms are subject to many ongoing requirements such as compliance, business conduct and financial reporting requirements.
Changes to registrationThese can include changes to categories or jurisdictions, or reinstating a registration that has been suspended or surrendered. In some cases, the firm or individual must notify the OSC or apply for the change. In other cases, the OSC will make the change and notify the firm or individual. Learn more about changes to registration.
Registrant Outreach programLearn more about compliance-related information through educational seminars, calendar of events, subscriptions and other registrant outreach initiatives.
See Also
Canada the world's fifth largest hedge fund market, report finds | Advisor.ca
Registrant searchSearch for registered individuals or firms selling securities, offering investment advice or managing an investment fund in Ontario or cross-country using the Canadian Securities Administrators (CSA) National Registration Search.
Applying for reliefFind information on how to apply for exemptive or discretionary relief from securities law requirements and the review process.
Opportunity to be heard and Director’s decisionsLearn about the opportunity for a registrant to be heard by the Director before a decision is made concerning staff recommendations to refuse, amend, or suspend registration, or impose terms and conditions, and review previously issued Director's decisions.
Registration forms and documentsLearn more about the different forms and documents you may have to submit.
FeesLearn more about fees associated with registration.

Latest instruments, rules, policies and notices

All instruments, rules, policies and notices

January 18, 2024Notice of Ministerial Approval of OSC Rule 33-509 Exemption From Underwriting Conflicts Disclosure Requirements
October 12, 2023CSA Staff Notice 31-364 - OBSI Joint Regulators Committee Annual Report for 2022
October 5, 2023Notice of Commission Approval of OSC Rule 33-509 Exemption From Underwriting Conflict DisclosureRequirements
September 14, 2023Amendments to National Instrument 33-109 Registration Information
September 13, 2023Unofficial Consolidation: Form 33-109F6 Firm Registration
August 17, 2023Registration Guide for New SRO Dual Registered Firms

All instruments, rules, policies and notices

Latest orders, rulings and decisions

All orders, rulings and decisions

March 8, 2024Newton Crypto Ltd.
February 27, 2024Agrifoods International Cooperative Ltd.
February 23, 2024Research Capital Corporation
February 22, 2024Jefferies Securities, Inc.
February 13, 2024Manulife Investment Management Limited and Manulife Investment Management Distributors Inc.
January 26, 2024Samer Shamshum

All orders, rulings and decisions

Registration and compliance (2024)
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