AML Regulations for Mortgage Industry Coming into Effect

In October 2024, the mortgage industry is set to undergo a significant transformation with the introduction of new anti-money laundering regulations. Here are the key requirements that mortgage professionals will need to implement when the regulations come into force: conduct more comprehensive due diligence on their clients, including obtaining and verifying information about the customer’s […]

Change to Proposed Trade Settlement Dates

Canadian Securities Administrators staff have responded favourably to industry comments on the previously proposed move to match trades by 9PM Eastern time on the trade date. Staff will now propose to their respective regulators that the trade-matching deadline be 3.59AM on T+1. The change to both the trade-matching deadline and settlement is expected to be […]

Recent Amendments to the Securities Act as at July 17, 2023

The BC Securities Commission has been given far-reaching powers in amendments to the Securities Act that became effective July 17, 2023. Although the amendments are said to strengthen investor protection, the consequences for registrants are cause for concern. Among the new powers, the Commission may now: Impose a wide range of prohibitions against anyone who […]

BCSE report card – Conflict of Interest Sweep

Watch Video Open in New Window Our focus today is on the findings from the conflicts of interest sweep reported on in the recent BCSE report card. The sweep was conducted by members of the Canadian securities administrators beginning December 2021. Here, we look at the failure to identify conflicts, failure to implement required processes, […]

BCSC Report Card for 2022

Hi, I’m sure all of you know by now that the BCSC annual report card for 2022 has been published. There is a comprehensive discussion about the findings from the conflicts of interest sweep the CSA carried out after the implementation of the client-focused reforms. Before we get to that, let’s see what the top […]

All about BC Annual Reports

  Most jurisdictions require corporations to file some kind of information return, every year. In British Columbia, this is called a BC Annual Report (“Annual Report”). This article talks about filing an Annual Report in BC, and things to consider before filing. It is important to note that the annual report that we are referring […]