Lesson 1: Mutual Fund Industry
|
|
- Cassandra Carroll
- 6 years ago
- Views:
Transcription
1 Lesson 1: Mutual Fund Industry Welcome to the Mutual Fund Industry lesson. In this lesson, you will learn about the regulatory framework surrounding the mutual fund industry. As a mutual fund representative, you should be aware of the functions these organizations perform in the financial services industry. This lesson takes 15 minutes to complete. At the end of this lesson, you will be able to do the following: describe the organization(s) involved in regulating the securities industry describe each organization's area of responsibility Regulatory Framework Financial services companies and their employees must adhere to many government regulations regulations designed to protect the interests of both the investing public and industry participants. Just as the Hippocratic oath guides medical doctors and a Code of Ethics directs chartered accountants, a set of well-defined principles and regulations guide mutual fund salespeople. In Canada, there are several monitoring bodies in the securities industry. Click each of the organizations below to see a description. Provincial Securities Commission Canadian Securities Administrators (CSA) Investment Industry Regulatory Organization of Canada (IIROC) Mutual Fund Dealers Association (MFDA) Each province and territory has a regulatory body, usually referred to as a commission, which administers that jurisdiction s Securities Act or equivalent legislation. Each commission sets its own standards for registration and has the power to grant or revoke registrations. The CSA is a forum for Canada s provincial securities regulatory authorities to coordinate and harmonize regulation of the Canadian capital markets. The CSA is a policy-making body composed of members from each provincial securities commission. IIROC is the national self-regulatory organization for the securities industry. The MFDA is the self-regulatory organization for the distribution side of the mutual fund industry. Provincial Securities Commission Each province and territory has a regulatory body, usually referred to as a commission, which administers that jurisdiction's Securities Act or equivalent legislation. Each commission sets its own standards for registration and has the power to grant or revoke registrations. All trading and advisory personnel of financial services companies, such as mutual fund dealers and banks, must register with the (those) securities commission(s) in the province(s) where each one operates IFSE Institute 1
2 Each commission is responsible for the following: establishing strict standards for disclosure of information before new securities can be offered to the public reviewing and approving mutual fund and new issue prospectuses before they are offered for sale in that province registering the companies and individuals who sell securities in their province registering the companies and individuals that manage mutual fund portfolios established in their province enforcing securities regulations governing the buying and selling of securities investigating investor complaints against companies and their employees disciplining companies or individuals found to contravene the regulations to reveal an exercise about Provincial Securities Commissions below. Canadian Securities Administrators (CSA) The CSA is a forum for Canada's provincial securities regulatory authorities to improve, coordinate, and harmonize regulation of the Canadian capital markets. The CSA is a policy-making body composed of members from each provincial securities commission. The CSA s mandate consists of three goals: to protect investors from unfair, improper, or fraudulent practices to foster fair and efficient capital markets to reduce risks to the market s integrity and to investor confidence in the markets It pursues these goals through a national system of harmonized securities regulation, policy, and practices. Once these are approved by the CSA, they are enforced by the provincial securities commissions. Click here to go to the CSA website. National Instruments National instruments are harmonized regulations made by the securities commissions through the CSA. The main instruments affecting mutual funds are: NI Mutual Fund Prospectus Disclosure NI Mutual Funds NI Commodity Pools NI Mutual Fund Sales Practices NI Investment Fund Continuous Disclosure NI Independent Review Committee for Investment Funds Click here to investigate these national instruments in more detail. Note: It is important for you to be aware of these documents and their contents; however, you will only be tested on the information mentioned in the course material that refers to these national instruments IFSE Institute
3 NI Mutual Fund Prospectus Disclosure NI Mutual Funds It aims at ensuring that mutual funds disclose the information which investors should consider when deciding whether to invest, or remain invested, in a fund. To this end, it prescribes the content of two key disclosure documents, namely the simplified prospectus and the annual information form. It is the main instrument regulating mutual funds. Among other matters, it: sets out restrictions on the manner in which a mutual fund may invest its assets provides a framework for funds of funds to invest in underlying mutual funds prohibits the manager from acting as custodian of the fund and specifies that the custodian must be a bank, a trust company or a subsidiary of either specifies how performance fees should be calculated specifies procedures designed (i) to ensure that investors money is received promptly by the fund and (ii) to minimise the risk of loss of the money prior to it being invested in the fund prohibits misleading sales communications relating to a fund and provides a formula for calculating standard performance data NI Commodity Pools NI Mutual Fund Sales Practices NI Investment Fund Continuous Disclosure NI Independent Review Committee for Investment Funds It deals with commodity pools, which are a special type of mutual fund. They are subject to the same regulations as other mutual funds and to the overriding special provisions of NI The latter provides, among other things, that commodity pools may invest in commodities. It aims at ensuring that mutual funds are sold on the basis of what is suitable for, and in the best interests of, investors rather than on the basis of incentives received by dealers and their sales representatives. It sets minimum standards of conduct to be followed by managers, principal distributors, registered dealers and the latter s sales representatives when distributing mutual funds. It prohibits the payment of any monetary or non-monetary compensation by the manager to dealers in connection with the distribution of the units or shares of a mutual fund, except for those forms of payment which it specifically allows. It prescribes a continuous disclosure regime for all investment funds which are reporting issuers. A reporting issuer is generally an entity which has issued its securities to the public and is subject to reporting requirements. NI sets out disclosure requirements in respect of financial statements, management reports of fund performance, quarterly portfolio disclosure, proxy voting, material changes, proxy solicitation and information circulars. It provides that all investment funds which are reporting issuers should have an Independent Review Committee (IRC) to review all matters involving a conflict between the manager s own interests and its duty to manage the fund in the best interest of the fund. Certain specified transactions and certain changes to a mutual fund require the prior approval of the IRC before being implemented. In the case 2010 IFSE Institute 3
4 of other transactions involving a conflict of interest, the IRC must provide the manager with a recommendation, which the manager is required to consider before proceeding. Investment Industry Regulatory Organization of Canada (IIROC) IIROC is the national self-regulatory organization (SRO) for the securities industry. IIROC s principal activities include the following: protection of the investing public self-regulation liaison with provincial securities commissions public policy representation maintenance of orderly marketing and trading education publication of statistical information liaison with other financial institutions IIROC s main objective is to create a favourable environment for the investing public by encouraging high practice standards and enforcing regulatory compliance in its membership. Click here to go to the IIROC website. The Mutual Fund Dealers Association (MFDA) The MFDA is the self-regulatory organization for the distribution side of the Canadian mutual funds industry. All mutual fund dealers outside the province of Québec are required to be members of the MFDA. The MFDA regulates the operations, standards of practice and business conduct of its members with a view to enhancing investor protection and strengthening public confidence in the Canadian mutual fund industry. It also regulates mutual fund representatives by virtue of their relationship with their sponsoring mutual fund dealer. The MFDA performs its regulatory role in broadly the same way as IIROC. The MFDA is empowered by securities regulators in each of the relevant jurisdictions to: admit members perform compliance reviews enforce rules through a transparent disciplinary process that can result in fines, suspension, or termination of membership Suspension or termination of MFDA membership means the suspended or terminated dealer firm cannot engage in trading in mutual fund securities. Click here to go to the MFDA Web site. Regulation in Québec Mutual fund dealers operating in the province of Québec are required to be registered under the Autorité de marchés financiers (AMF), the provincial securities regulatory body. The AMF has further delegated the responsibility of ongoing regulatory compliance and continuing education requirements to the Chambre de la sécurité financière (CSF) IFSE Institute
5 The CSF is the recognized self-regulatory organization (SRO) for Québec representatives dealing in investment funds that are not under IIROC supervision (in Québec, IIROC is the recognized SRO for brokers). Its mission is to protect consumers by maintaining discipline and overseeing the training and ethics of its members, which include group savings plan representatives and financial planners. The CSF is empowered by the AMF in Québec to: admit members perform compliance reviews enforce rules through a disciplinary process that can result in fines, suspension or termination of membership Suspension or termination of membership implies that the former member no longer can engage in the trading of mutual fund securities. To be sure you comply, be sure to refer to Québec-specific legislation and regulations, and consult applicable CSF and AMF rules before you trade or advise clients on any type of security. Click here to go to the CSF website. Exercise: Regulatory Framework 2010 IFSE Institute 5
PRINCIPLES AND PRACTICES FOR THE SALE OF PRODUCTS AND SERVICES IN THE FINANCIAL SECTOR
Joint Forum of Financial Market Regulators Forum conjoint des autorités de réglementation du marché financier BACKGROUNDER PRINCIPLES AND PRACTICES FOR THE SALE OF PRODUCTS AND SERVICES IN THE FINANCIAL
More informationCompanion Policy CP Passport System
This document is an unofficial consolidation of all changes to Companion Policy 11-102CP Passport System, effective as of June 23, 2016. This document is for reference purposes only. Companion Policy 11-102CP
More informationNATIONAL INSTRUMENT REGISTRATION REQUIREMENTS AND EXEMPTIONS
NATIONAL INSTRUMENT 31-103 REGISTRATION REQUIREMENTS AND EXEMPTIONS Table of contents Part 1 Interpretation 1.1 Definitions of terms used throughout this Instrument 1.2 Interpretation of securities in
More informationNational Instrument Registration Requirements, Exemptions and Ongoing Registrant Obligations. Table of Contents
This document is an unofficial consolidation of all amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103), effective as of June 12,
More informationNational Instrument Registration Requirements, Exemptions and Ongoing Registrant Obligations. Table of Contents
This document is an unofficial consolidation of all amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103), effective as of December
More informationNational Instrument Registration Requirements, Exemptions and Ongoing Registrant Obligations. Table of contents
National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations Table of contents Individual registration Firm registration Part 1 Interpretation...5 1.1 Definitions
More informationNATIONAL INSTRUMENT REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING REGISTRANT OBLIGATIONS. Table of contents
Note: [05 May 2015] The following is a consolidation of NI 31-103. It incorporates amendments to this document that came into effect on January 1, 2011, July 11, 2011, February 28, 2012, May 31, 2013,
More informationSelf-Regulatory Standards and Enforcement Practices
Self-Regulatory Standards and Enforcement Practices September 13, 2014 Alexandra Clark Director, Enforcement Litigation Overview of the Canadian Regulatory System There are several parts to the financial
More informationAUTORITÉ DES MARCHÉS FINANCIERS. Regulation and oversight of Québec s financial sector
AUTORITÉ DES MARCHÉS FINANCIERS Regulation and oversight of Québec s financial sector TABLE OF CONTENTS 1 AUTORITÉ DES MARCHÉS FINANCIERS 3 TWO KEY FUNCTIONS Financial market supervision Consumer assistance
More informationCOMPANION POLICY CP PASSPORT SYSTEM
Note: [20 Apr 2012] - The following is a consolidation of Companion Policy 11-102CP. It incorporates the amendments to this document that came into effect on September 28, 2009, January 01, 2011 and April
More informationOSC Staff Notice Annual Summary Report for Dealers, Advisers and Investment Fund Managers
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers 2009 Compliance Annual Report 2 Contents Introduction... 4 1. New regime for registrants.... 6 1.1
More informationThis consolidation is provided for your convenience and should not be relied on as authoritative
CONSOLIDATED UP TO 1 FEBRUARY 2017 This consolidation is provided for your convenience and should not be relied on as authoritative NATIONAL INSTRUMENT 31-103 REGISTRATION REQUIREMENTS, EXEMPTIONS AND
More informationCSA BUSINESS PLAN
CSA BUSINESS PLAN 2013-2016 Introduction This document represents the collective effort by the Canadian Securities Administrators (CSA) to set out, in a clear and comprehensive manner, the priorities that
More informationJune 17, Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives. Via to:
June 17, 2016 Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives Via email to: Fin.Adv.Pln@ontario.ca Dear Sirs/Mesdames: Re: Response to Preliminary Policy Recommendations
More informationRequest for Comments
Chapter 6 Request for Comments 6.1.1 CSA Notice and Request for Comment Proposed National Instrument 93-102 Derivatives: Registration and Proposed Companion Policy 93-102 Derivatives: Registration CSA
More informationREGULATION IN FORCE FROM JULY 15, 2016 TO DECEMBER 3, 2017
Last amendment in force on July 15, 2016 This document has official status chapter V-1.1, r. 10 REGULATION 31-103 RESPECTING REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING REGISTRANT OBLIGATIONS M.O.
More informationAutorité des marchés financiers. Consultation on the Regulatory Framework Applicable to the Mutual Fund Sector
Mutual Fund Dealers Association of Canada Association canadienne des courtiers de fonds mutuels 121 King Street West, Suite 1000, Toronto, Ontario, M5H 3T9 TEL: 416-361-6332 FAX: 416-943-7435 WEBSITE:
More informationThis consolidation is provided for your convenience and should not be relied on as authoritative
CONSOLIDATED UP TO 1 MAY 2014 This consolidation is provided for your convenience and should not be relied on as authoritative NATIONAL INSTRUMENT 31-103 REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING
More informationAMENDMENTS TO NATIONAL INSTRUMENT REGISTRATION REQUIREMENTS AND EXEMPTIONS
AMENDMENTS TO NATIONAL INSTRUMENT 31-103 REGISTRATION REQUIREMENTS AND EXEMPTIONS 1. National Instrument 31-103 Registration Requirements and Exemptions is amended by this Instrument. 2. The title is amended
More informationApplication for Recognition as a Self-Regulatory Organization
February 14, 2012 Katharine Tummon Superintendent of Securities Prince Edward Island Office of the Superintendent of Securities Consumer, Corporate and Insurance Services Division Department of Justice
More informationFebruary 7, Dear Mr. Allen,
Frank Allen Assistant Deputy Minister Ministry of Finance Frost Building North, 4 th Floor 95 Grosvenor Street Toronto, Ontario M7A 1Z1 FPlanning.consultation@ontario.ca Dear Mr. Allen, The Canadian Securities
More informationJoint Forum of Financial Market Regulators. Forum conjoint des autorités de réglementation du marché financier
Joint Forum of Financial Market Regulators Forum conjoint des autorités de réglementation du marché financier PROPOSED REGULATORY PRINCIPLES FOR CAPITAL ACCUMULATION PLANS A Report by the Joint Forum of
More informationCompanion Policy Commodity Pools. 2.1 Relationship to securities legislation applicable to mutual funds 2.2 Derivatives use
Companion Policy 81-104 Commodity Pools PART 1 PURPOSE AND BACKGROUND 1.1 Purpose 1.2 What the Instrument covers 1.3 Background to the Instrument 1.4 Regulatory principles for commodity pools PART 2 GENERAL
More informationIIROC Dealer Member Rule Amendments to Implement the CSA s Registration Reform Project
Rules Notice Notice of Approval/Implementation Please distribute internally to: Legal and Compliance Registration Senior Management Training Institutional Contact: Rossana Di Lieto Vice President, Registrations
More informationYukon Securities Office Ministerial Order Enacting Rule: 2009/07 Instrument Initially Effective in Yukon: September 28, 2009
1 2 Part 1 Definitions and fundamental concepts 1.1 Introduction This Companion Policy sets out how the Canadian Securities Administrators (the CSA or we) interpret or apply the provisions of National
More informationA Summary of Canadian Trade Reporting Requirements
ISDA Data & Reporting Canadian Working Group For discussion purposes only A Summary of Canadian Trade Reporting Requirements Version 7, April 30, 2014 Tara Kruse, Director Data & Reporting, ISDA ISDA is
More informationSECURITIES COMMISSION
SECURITIES COMMISSION Business Plan 2018-2019 Mandate The Nova Scotia Securities Commission (the Commission) is an independent, quasi-judicial tribunal created by the Securities Act. The Commission s mandate
More informationUnderstanding mutual funds
Understanding mutual funds Thinking about investing in mutual funds? They can be an effective way to save for important goals like retirement or your child s education. But like all investments, they
More informationREGULATION RESPECTING DERIVATIVES: REGISTRATION. Canadian counterparty means a derivatives party to which either of the following
REGULATION 93-102 RESPECTING DERIVATIVES: REGISTRATION Derivatives Act (chapter I-14.01, s. 175, 1 st par., subpar. (2), (3), (11), (12), (13), (14), (16), (26) and (29)) PART 1 DEFINITIONS AND INTERPRETATION
More information2018 NRD SECURITIES FEE SCHEDULE
NOTE The fees below are valid solely for 2018 and are subject to change. IMPORTANT Please take this notice into account for the entire schedule contained in this document. Fees payable to the Autorité
More informationOSC Staff Notice Compliance and Registrant Regulation Branch Annual Report
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report 2009 Compliance Annual Report 2 Contents Introduction... 4 1. Registration reform.... 6 1.1 New registration regime...
More informationAuthored and prepared by egx
Authored and prepared by egx Annotated Recognition Order egx Canada Inc. Section 24 of the Securities Act, RSBC 1996, c. 418 egx Canada Inc. (egx), a subsidiary of Global Financial Group Inc. (GFG), has
More informationConsultation Paper December 20, 2010
Consultation Paper December 20, 2010 Consultation on Possible Options for the Incorporation of Individual Representatives of Registered Dealers and Advisers in Canada PURPOSE A working group of provincial/territorial
More informationUnderstanding mutual funds
Understanding mutual funds Canadian Securities Administrators Securities regulators from each province and territory have teamed up to form the Canadian Securities Administrators, or CSA for short. The
More informationRe: Proposed Amendments to NI and its Policy Re. Client Relationship Model Phase 2 (CRM2) Amendments
Naomi Solomon Managing Director nsolomon@iiac.ca Via Email October 5, 2016 British Columbia Securities Commission Alberta Securities Commission Financial and Consumer Affairs Authority of Saskatchewan
More informationVIA
VIA E-MAIL: jstevenson@osc.gov.on.ca, consultation-en-cours@lautorite.qc.ca September 23, 2011 British Columbia Securities Commission Alberta Securities Commission Saskatchewan Financial Services Commission
More informationThe Honourable Charles Sousa Minister of Finance 7 Queen s Park Crescent, 7 th Floor Toronto, ON M7A 1Y7. Sent via to:
The Honourable Charles Sousa Minister of Finance 7 Queen s Park Crescent, 7 th Floor Toronto, ON M7A 1Y7 Sent via email to: Fin.Planning@ontario.ca RE: Consultation Regulation of Financial Planners FAIR
More informationA Provincial/Territorial Memorandum of Understanding Regarding Securities Regulation
A Provincial/Territorial Memorandum of Understanding Regarding Securities Regulation BETWEEN: The Governments of the participating jurisdictions represented by their respective Ministers responsible for
More informationIN THE MATTER OF. THE SECURITIES ACT, R.S.O. 1990, c.s.5, AS AMENDED (the Act) AND IN THE MATTER OF REGULATION 1015 MADE UNDER THE ACT, R.R.O.
Headnote Application under section 144 of the Act and section 78 of the CFA to amend and restate an order approving the Canadian Investor Protection Fund as a compensation fund pursuant to section 110
More informationSECURITIES LAW AND CORPORATE GOVERNANCE
Doing Business in Canada 1 C: SECURITIES LAW AND CORPORATE GOVERNANCE Canada currently does not have a federal securities regulator, as other major capital markets do. Rather, each province and territory
More informationCONFLICTS OF INTEREST DISCLOSURE
CONFLICTS OF INTEREST DISCLOSURE General Description Actual, potential and perceived conflicts of interest exist in almost all human interactions. Our relationship with you is no different. Maison Placements
More informationNATIONAL INSTRUMENT INVESTMENT DEALERS IIROC MEMBERS. regime will become effective on September 28, 2009 (subject to government
Keeping Reforms in Sight: Understanding the New Canadian Registration Requirements AUGUST 2009 www.blgcanada.com What s New? NATIONAL INSTRUMENT 31-103 INVESTMENT DEALERS IIROC MEMBERS The long-anticipated
More informationRULE 2650 CONTINUING EDUCATION REQUIREMENTS FOR APPROVED PERSONS
RULE 2650 CONTINUING EDUCATION REQUIREMENTS FOR APPROVED PERSONS 2651. Introduction Rule 2900 Part III,(B) first paragraph (1) IIROC requires Approved Persons to meet continuing education requirements
More informationAn Investor s Guide to Making a Complaint
www.iiroc.ca Tel. 1.877.442.4322 An Investor s Guide to Making a Complaint Investment Industry Regulatory Organization of Canada Organisme canadien de réglementation du commerce des valeurs mobilières
More informationMFDA CLIENT RESEARCH REPORT
MFDA CLIENT RESEARCH REPORT A DETAILED LOOK INTO MEMBERS ADVISORS CLIENTS Mutual Fund Dealers Association of Canada Association canadienne des courtiers de fonds mutuels CONTENTS: 3 PART I: BACKGROUND
More informationREGULATING FINANCIAL PLANNERS AND ADVISORS
REGULATING FINANCIAL PLANNERS AND ADVISORS Response to the Preliminary Policy Recommendations of the Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives June 17,
More informationANNEX B. Table of Contents
ANNEX B SUMMARY OF PUBLIC COMMENTS AND CSA RESPONSES ON THE 2013 ALTERNATIVE FUNDS PROPOSAL AND THE INTERRELATED INVESTMENT RESTRICTIONS PART Part I Part II Part III Part IV Table of Contents TITLE Background
More informationProtecting Canadian Markets, Protecting Canadian Investors
Protecting Canadian Markets, Protecting Canadian Investors Le Cercle de la finance internationale de Montréal The International Finance Club of Montréal Andrew J. Kriegler President and Chief Executive
More informationHow does a bank that serves advisors work for you?
How does a bank that serves advisors work for you? By giving you a choice. Working with your advisor to bring solutions to you. Welcome to B2B Bank. B2B Bank is unique. While we offer many of the same
More informationSecurities and Corporate Finance Doing Business In Canada
Securities and Corporate Finance Doing Business In Canada The focus of securities regulation in Canada is disclosure of information on the one hand, and the regulation of market participants on the other.
More informationNI Dispute Resolution Service Requirements - What Does It Mean? David Di Paolo January 26, 2012
NI 31-103 Dispute Resolution Service Requirements - What Does It Mean? David Di Paolo January 26, 2012 Overview Requirement for ADR pursuant to s. 13.16 of NI 31-103 Status of requirement What is mediation
More informationIFIC Submission. Mutual Fund Fees. Proposed Amendments to National Instrument Mutual Fund Sales Practices and Related Consequential Amendments
IFIC Submission Mutual Fund Fees Proposed to National Instrument 81-105 Mutual Fund Sales Practices and Related Consequential PAUL C. BOURQUE, Q.C., ICD.D / c.r. IAS.A President and CEO Président et chef
More informationIN THE MATTER OF THE SECURITIES ACT, R.S.N.S. 1989, CHAPTER 418, AS AMENDED, (the Act ) - AND - IN THE MATTER OF
IN THE MATTER OF THE SECURITIES ACT, R.S.N.S. 1989, CHAPTER 418, AS AMENDED, (the Act ) - AND - IN THE MATTER OF INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC) RECOGNITION ORDER (Section
More informationOSC STAFF NOTICE OSC BROADENING SCOPE OF REVIEW OF PROSPECTUS EXEMPTIONS. June 7, 2012
OSC STAFF NOTICE 45 707 OSC BROADENING SCOPE OF REVIEW OF PROSPECTUS EXEMPTIONS June 7, 2012 Introduction On November 10, 2011, CSA staff announced that they are reviewing the $150,000 minimum amount and
More informationIN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED - AND -
Ontario Commission des 22 nd Floor 22e étage Securities valeurs mobilières 20 Queen Street West 20, rue queen ouest Commission de l Ontario Toronto ON M5H 3S8 Toronto ON M5H 3S8 IN THE MATTER OF THE SECURITIES
More informationEdward Jones Transitional Retirement Account Brochure
Edward Jones Transitional Retirement Account Brochure as of March 29, 2018 Edward Jones 12555 Manchester Road St. Louis, MO 63131 800-803-3333 www.edwardjones.com Item 1: Cover Page This wrap fee program
More informationAn Act respecting the distribution of financial products and services
NATIONAL ASSEMBLY SECOND SESSION THIRTY-FIFTH LEGISLATURE Bill 188 An Act respecting the distribution of financial products and services Introduction Introduced by Mr Bernard Landry Minister of Finance
More informationNATIONAL INSTRUMENT INDEPENDENT REVIEW COMMITTEE FOR INVESTMENT FUNDS TABLE OF CONTENTS
NATIONAL INSTRUMENT 81-107 INDEPENDENT REVIEW COMMITTEE FOR INVESTMENT FUNDS TABLE OF CONTENTS Part 1 Definitions and application 1.1 Investment funds subject to Instrument 1.2 Definition of a conflict
More informationRE: OSC Notice (Revised) Request for Comments Regarding Statement of Priorities for Fiscal Year Ending March 31, 2010
Via Email May 29, 2009 Ontario Securities Commission 20 Queen Street West Suite 1900, Box 55 Toronto, Ontario M5H 3S8 Attention: Robert Day Manager, Business Planning rday@osc.gov.on.ca Dear Sirs/Mesdames:
More informationDirectrice du secrétariat. 20 Queen Street West Tour de la Bourse, 800, square Victoria
VIA EMAIL September 29, 2010 British Columbia Securities Commission Alberta Securities Commission Saskatchewan Financial Services Commission Manitoba Securities Commission Ontario Securities Commission
More information5.1 Manager to refer conflict of interest matters to independent review committee
National Instrument 81-107 Independent Review Committee for Investment Funds PART 1 DEFINITIONS AND APPLICATION 1.1 Investment funds subject to Instrument 1.2 Definition of a conflict of interest matter
More informationMANAGEMENT S DISCUSSION & ANALYSIS. OSC Chairs and CEOs through the years
MANAGEMENT S DISCUSSION & ANALYSIS Chairs and CEOs through the years Management s Discussion and Analysis This (MD&A) contains management s interpretation of the s financial performance for the fiscal
More informationMANAGING CONFLICT OF INTEREST RISK IN RELATION TO INCENTIVES
[Translation] ISSUES PAPER MANAGING CONFLICT OF INTEREST RISK IN RELATION TO INCENTIVES July 2017 TABLE OF CONTENTS 1. INTRODUCTION... 1 2. PURPOSE OF ISSUES PAPER... 3 3. ANALYTICAL SCOPE AND METHODOLOGY...
More informationGuide for Initial Licence Application from a Trust Company or Savings Company not Incorporated in Québec
Guide for Initial Licence Application from a Trust Company or Savings Company Table of Contents Page 1. Introduction 1 2. Application evaluation criteria 2 3. Required documents and information 3 4. Fees
More informationMANAGEMENT S DISCUSSION AND ANALYSIS DELIVERING ON OUR MANDATE
MD &A This Management s Discussion and Analysis (MD&A) contains management s interpretation of the OSC s financial performance for the 2018 fiscal year ended March 31, 2018. While the financial statements
More informationI. FAIR Canada s Recommendations in Response to Questions Regarding the Mandate of FSCO
August 21, 2015 Expert Advisory Panel FSCO/FST/DICO Mandate Reviews Ministry of Finance Financial Institutions Policy Branch (FIPB) & Income Security & Pension Policy Division Frost Building North, Room
More informationCSA Staff Notice CSA Market Disruption Coordination Plan
CSA Staff Notice 11-338 CSA Market Disruption Coordination Plan October 18, 2018 Executive Summary The Canadian Securities Administrators (the CSA or we) are publishing CSA Staff Notice 11-338 CSA Market
More informationPROVINCIAL/TERRITORIAL COUNCIL Of MINISTERS OF SECURITIES REGULATION (Council) ANNUAL PROGRESS REPORT January 2012 to December 2012
PROVINCIAL/TERRITORIAL COUNCIL Of MINISTERS OF SECURITIES REGULATION (Council) ANNUAL PROGRESS REPORT January 2012 to December 2012 BACKGROUND Canada withstood the recent financial crisis better than most
More informationTo the Securities Commissions of Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia and:
Barbara J. Amsden Director, Special Projects 416.687.5488/bamsden@iiac.ca February 11, 2013 To the Securities Commissions of Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia and: Mr. John
More informationREVIEW OF MINIMUM AMOUNT AND ACCREDITED INVESTOR EXEMPTIONS Consultation Note
REVIEW OF MINIMUM AMOUNT AND ACCREDITED INVESTOR EXEMPTIONS Consultation Note 1. Introduction Purpose of consultation Staff of the Canadian Securities Administrators (CSA) are reviewing the $150,000 minimum
More informationThe members of the Canadian Insurance Services Regulatory Organizations (CISRO) include representatives from the following regulators:
Canadian Insurance Services Regulatory Organizations (CISRO) STRATEGIC PLAN N 2010-2013 1. PREAMBLE The Canadian Insurance Services Regulatory Organizations (CISRO) is an interjurisdictional group of regulating
More informationJULY 15, Dear Sirs/Mesdames:
JULY 15, 2016 CCIR Secretariat 5160 Yonge Street, Box 85 17 th Floor Toronto, Ontario M2N 6L9 Re: SEGREGATED FUNDS WORKING GROUP ISSUES PAPER Dear Sirs/Mesdames: The Mutual Fund Dealers Association of
More informationCurrent Developments: Canadian Securities and Auditing Matters
Current Developments: Canadian Securities and Auditing Matters June 2016 kpmg.ca Canadian Securities and Auditing Matters This edition provides a summary of newly effective and forthcoming regulatory and
More informationMUTUAL FUND DEALERS ASSOCIATION OF CANADA
MUTUAL FUND DEALERS ASSOCIATION OF CANADA PROPOSED MFDA RULES 1.2 (DEFINITIONS), 1.2.6 (CONTINUING EDUCATION), AND PROPOSED MFDA POLICY NO. 9 - CONTINUING EDUCATION (CE) REQUIREMENTS I. OVERVIEW As per
More informationIIROC Concept Proposal Restricted Dealer Member Proposal
Rules Notice Concept Paper Request for Comments Dealer Member Rules Please distribute internally to: Institutional Legal and Compliance Operations Registration Retail Senior Management Contact: Rossana
More informationAPPLICATION FOR APPROVAL AS TRADER
TSX Venture Exchange (TSXVN) APPLICATION FOR APPROVAL AS TRADER Confirmation of Question 5 FOR INTERNAL USE ONLY Other Confirmation TradeTSXVN Exam Mark Trading Services approval by: Membership approval
More informationRIDGEWOOD MUTUAL FUNDS. Simplified Prospectus
RIDGEWOOD MUTUAL FUNDS Ridgewood Canadian Bond Fund Ridgewood Tactical Yield Fund Simplified Prospectus No securities regulatory authority has expressed an opinion about these units and it is an offence
More informationFrequently Asked Questions NI Registration Requirements and Exemptions and Related Instruments
1 Frequently Asked Questions Registration Requirements and Exemptions and Related Instruments updated as of February 5, 2010 Background This list of frequently asked questions (FAQs) is compiled from staff
More informationCurrent Developments: Canadian Securities and Auditing Matters
Current Developments: Canadian Securities and Auditing Matters September 2017 kpmg.ca Canadian Securities and Auditing Matters This edition provides a summary of newly effective and forthcoming regulatory
More informationRelationship Disclosure (RD)
BMO Wealth Management BMO Nesbitt Burns RDD-09/15-E Relationship Disclosure (RD) BMO Nesbitt Burns believes the best way to help you meet your investment goals is to work with your Investment Advisor to
More informationSchedule B. APPENDIX D Equivalent provisions
Schedule B APPENDIX D Equivalent provisions All references are to provisions of the Act of the relevant jurisdiction unless otherwise noted. All references to NI are to National Instruments. All references
More informationRESP Dealers Association of Canada. Branch Manager Proficiency Course
RESP Dealers Association of Canada Branch Manager Proficiency Course Table of Contents 1. Overview...5 a. Who is this course for?...5 b. What will be covered by the material?...6 c. The RESP Dealers Association
More informationPROPOSED GUIDELINES FOR CAPITAL ACCUMULATION PLANS
Forum conjoint des autorités de réglementation du marché financier PROPOSED GUIDELINES FOR CAPITAL ACCUMULATION PLANS April 2003 5160 Yonge Street, Box 85, 17 th Floor, North York ON M2N 6L9 Telephone:
More informationAs of October 31, 2016, the participating jurisdictions in MI are Alberta, Ontario, Québec, New Brunswick and Nova Scotia.
This document is an unofficial consolidation of all amendments to Multilateral Instrument 45-108 Crowdfunding and all changes to its Companion Policy, current to October 31, 2016. It does not include the
More informationProductivity and the Financial Sector What s Missing? By Jeremy Kronck. Appendix A: Regulators by Country
Productivity and the Financial Sector What s Missing? By Jeremy Kronck Appendix A: Regulators by Country Canada There are four coordinating bodies (committees) that provide systemic financial services
More informationNo securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise.
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. UNITED FUNDS PART A Simplified Prospectus dated October 30, 2018 Canadian Equity
More informationNova Scotia Securities Commission. Rule Commodity Pools. -and- Multilateral Instrument Commodity Pools. -and-
Nova Scotia Securities Commission Rule 81-104 Commodity Pools Multilateral Instrument 81-104 Commodity Pools -and- -and- Companion Policy 81-104CP to Multilateral Instrument 81-104 Commodity Pools WHEREAS:
More informationPLEASE NOTE. For more information concerning the history of this Act, please see the Table of Public Acts.
PLEASE NOTE This document, prepared by the Legislative Counsel Office, is an office consolidation of this Act, current to January 4, 2005. It is intended for information and reference purposes only. This
More information5.1.2 Amendments to NI General Prospectus Requirements and Companion Policy CP
5.1.2 Amendments to NI 41-101 General Prospectus Requirements and Companion Policy 41-101CP AMENDMENTS TO NATIONAL INSTRUMENT 41-101 GENERAL PROSPECTUS REQUIREMENTS 1. National Instrument 41-101 General
More informationMUTUAL FUND DEALERS ASSOCIATION OF CANADA/ ASSOCIATION CANADIENNE DES COURTIERS DE FONDS MUTUELS RULES
April 12, 2018 MUTUAL FUND DEALERS ASSOCIATION OF CANADA/ ASSOCIATION CANADIENNE DES COURTIERS DE FONDS MUTUELS RULES TABLE OF CONTENTS 1 RULE NO. 1 BUSINESS STRUCTURES AND QUALIFICATIONS... 1 1.1 BUSINESS
More informationAppendix 5. IIROC Rules Notice Reference Numbers for the Original and Previous Publications (See section 2.1)
Appendix 5 IIROC Rules Notice Reference Numbers for the Original and Previous Publications (See section 2.1) SERIES 1000 TRANCHES REPUBLICATION (S) Rule 1100 Interpretation January 6, 2012 Rule 1200 Definitions
More informationMarch 6, Attention of:
March 6, 2006 British Columbia Securities Commission Alberta Securities Commission Saskatchewan Financial Services Commission - Securities Division Manitoba Securities Commission Ontario Securities Commission
More informationRe Laurentian Bank Securities
Unofficial English Translation IN THE MATTER OF: Re Laurentian Bank Securities The Dealer Member Rules of the Investment Industry Regulatory Organization of Canada (IIROC) and The By-Laws of the Investment
More informationMORTGAGE BROKERAGES, MORTGAGE LENDERS AND MORTGAGE ADMINISTRATORS ACT. A Consultation Draft
MORTGAGE BROKERAGES, MORTGAGE LENDERS AND MORTGAGE ADMINISTRATORS ACT A Consultation Draft Proposed by the Ministry of Finance March, 2005 MORTGAGE BROKERAGES, MORTGAGE LENDERS AND MORTGAGE ADMINISTRATORS
More informationrefusals to compensate clients consistent with OBSI recommendations, or repeatedly settling for lower amounts than recommended by OBSI
Joint CSA Staff Notice 31-351, IIROC Notice 17-0229, MFDA Bulletin #0736-M Complying with requirements regarding the Ombudsman for Banking Services and Investments December 7, 2017 Introduction and Purpose
More informationFebruary 28 th, Cc Western Exempt Market Association Fax:
February 28 th, 2012 British Columbia Securities Commission Alberta Securities Commission Saskatchewan Financial Services Commission Manitoba Securities Commission Ontario Securities Commission Autorité
More informationVia Re: Notice and Request for Comments Proposed Amendments to National Instrument , Registration Requirements and Exemptions
155 Wellington Street 15 th Floor, RBC Centre Toronto, Ontario M5V 3K7 Via Email September 30, 2010 John Stevenson Secretary Ontario Securities Commission 20 Queen Street West 19 th Floor, Box 55 Toronto,
More informationCBOE EUROPE RECOGNISED INVESTMENT EXCHANGE RULE BOOK
CBOE EUROPE RECOGNISED INVESTMENT EXCHANGE RULE BOOK 2 January 2018 VERSION 12 2 Contents 1. Definitions and Interpretations... 4 2. Participation... 12 3. Direct Electronic Access... 14 4. Cboe LIS...
More informationCSA Notice and Request for Comment. Proposed National Instrument Prohibition of Binary Options and Related Proposed Companion Policy
CSA Notice and Request for Comment Proposed National Instrument 91-102 Prohibition of Binary Options and Related Proposed Companion Policy April 26, 2017 Introduction We, the securities regulatory authorities
More informationREQUEST FOR COMMENTS ADOPTION OF RULES APPLICABLE TO MARKET MAKERS FOR FUTURES CONTRACTS AMENDMENT TO RULE SIX OF BOURSE DE MONTRÉAL INC.
Trading Interest Rate Derivatives Trading Equity and Index Derivatives Back-office Futures Back-office - Options Technology Regulation MCeX CIRCULAR April 6, 2011 REQUEST FOR COMMENTS ADOPTION OF RULES
More information