Latest news with #IlanaKelemen
Cision Canada
11 hours ago
- Business
- Cision Canada
Canadian securities regulators propose prohibiting the use of chargebacks in the distribution of investment funds Français
, June 26, 2025 /CNW/ - The Canadian Securities Administrators (CSA) has published, for a 90-day comment period, proposed amendments that would prohibit the use of chargebacks in the distribution of investment funds offered by prospectus. Dealers or dealing representatives sometimes receive an upfront commission or payment when their client purchases securities. Chargebacks occur when clients redeem their securities before a fixed schedule, and the dealing representative is required to pay back all or part of the upfront commission or payment. The CSA is concerned that the use of chargebacks poses an inherent significant conflict of interest as they may incentivize advisors to prioritize their own financial interest over that of their clients. "Prohibiting the use of chargebacks in the distribution of investment fund securities can further align investment advice with a client's best interest," said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission. "The proposed amendments prioritize investor protection and foster fairer compensation practices." The proposed amendments are in alignment with the 2025-2028 CSA Business Plan. Under the Business Plan, the CSA will propose and enact regulatory amendments, or other regulations, to ban chargebacks in the distribution of investment fund securities, not solely mutual funds, to improve investor protection and maintain investor confidence in Canadian capital markets. The proposed amendments are available on CSA members' websites. The comment period closes on September 24, 2025. The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets. For media inquiries, please contact: Ilana Kelemen Canadian Securities Administrators [email protected] Julia K. Mackenzie Ontario Securities Commission [email protected] Sylvain Théberge Autorité des marchés financiers [email protected] For investor inquiries, please contact your local securities regulator
Cision Canada
19-06-2025
- Business
- Cision Canada
Canadian securities regulators launch consultation on ETF framework Français
TORONTO, June 19, 2025 /CNW/ - The Canadian Securities Administrators (CSA) today published a consultation paper on the exchange-traded fund (ETF) regulatory framework. In 2023, the CSA began reviewing ETF regulations to assess whether the current regulations applicable to ETFs remain appropriate. The review focused on the unique features of ETFs, such as secondary market trading, creation and redemption of ETF units by authorized dealers, and the underlying arbitrage mechanism of ETFs. The consultation paper proposes certain enhancements to the framework, taking into consideration a study of the Canadian ETF market conducted by the Ontario Securities Commission's Thought Leadership Division and the Good Practices Relating to the Implementation of the IOSCO Principles for Exchange Traded Funds published by the International Organization of Securities Commissions. ETFs have experienced robust growth in Canada, with assets under management reaching $518 billion by the end of 2024. Retail investors make significant use of ETFs, and the CSA expects interest and investment in ETFs to grow further. "ETFs are an increasingly important investment vehicle for Canadians, providing investors with access to a wide range of investment exposures and strategies and offering intraday liquidity," said Stan Magidson, Chair of the CSA and Chair and CEO of the Alberta Securities Commission. "This consultation will provide the CSA with important insights into the unique regulatory considerations for these products." The consultation also seeks stakeholder views on investor access to U.S. ETFs through brokerage accounts and exposure to U.S. and other foreign ETFs through publicly offered investment fund holdings. The CSA invites stakeholders to respond to the consultation paper, which is available on CSA members' websites. The comment period closes on October 17, 2025. The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets. For media inquiries, please contact: Ilana Kelemen Canadian Securities Administrators [email protected] Julia K. Mackenzie Ontario Securities Commission [email protected] For investor inquiries, please contact your local securities regulator.
Cision Canada
12-06-2025
- Business
- Cision Canada
CSA proposes amendments to modernize and streamline mining disclosure standards Français
VANCOUVER, BC, June 12, 2025 /CNW/ - The Canadian Securities Administrators (CSA) is seeking feedback on proposed amendments to National Instrument 43-101 Standards of Disclosure for Mineral Projects. The proposed amendments are intended to clarify, harmonize and streamline Canada's mining disclosure regime without introducing any new requirements. The proposed amendments would update and enhance the standards for disclosing scientific and technical information about mineral projects to address evolving disclosure practices and policy considerations identified by CSA staff, and to reflect changing industry and investor expectations. "Our goal is to provide investors with clear, reliable information about mineral projects so they can make informed decisions, without imposing an undue regulatory burden on mining issuers," said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission. "By modernizing and streamlining the disclosure regime, we aim to maintain Canada's position as the global standard for mining disclosure." The proposed amendments to National Instrument 43-101 Standards of Disclosure for Mineral Projects are designed to: remove or replace certain definitions and requirements that have become outdated modernize and streamline certain requirements to reflect current industry practice provide clarification and guidance on certain definitions and requirements, and make other minor language changes to clarify disclosure requirements. The proposed amendments are being published for a 120-day comment period and are available on CSA member websites. In April 2022, the CSA published CSA Consultation Paper 43-401 Consultation on National Instrument 43-101 Standards of Disclosure for Mineral Projects to inform this project. The CSA received valuable feedback from a large number of market participants, which it has considered. The CSA, the council of the securities regulators of Canada's provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets. For media inquiries, please contact: Ilana Kelemen Canadian Securities Administrators [email protected] Elise Palmer BC Securities Commission [email protected] For investor inquiries, please contact your local securities regulator.
Cision Canada
29-05-2025
- Business
- Cision Canada
CSA extends comment period on proposed amendments to trading fee caps charged by marketplaces Français
TORONTO, May 29, 2025 /CNW/ - The Canadian Securities Administrators (CSA) today published a Staff Notice 23-334 extending the comment period for proposed amendments to National Instrument 23-101 Trading Rules and Companion Policy 23-101 Trading Rules. The proposed amendments would lower the active trading fee cap applicable to trades in securities that are listed on both a Canadian recognized exchange and a U.S. registered national securities exchange (U.S. Inter-listed Securities). The original comment period closed on March 24, 2025, however, the CSA is extending the comment period to give stakeholders additional time to review the proposed amendments. The comment period is now closing on July 2, 2025. Comments already received are posted on the websites of each of the Alberta Securities Commission, the Ontario Securities Commission and the Autorité des marchés financiers. New comments will also be posted once they are available. The CSA is particularly interested in receiving comments on the alternative fee caps mentioned in the notice of the proposed amendments: Commenters who responded to Joint CSA/CIRO Staff Notice 23-331 Request for Feedback on December 2022 SEC Market Structure Proposals and Potential Impact on Canadian Capital Markets are encouraged to review and comment on the specific proposed amendments published in January 2025. The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets. For media inquiries, please contact: Canadian Securities Administrators Ilana Kelemen [email protected] Ontario Securities Commission Debra Chan [email protected] For investor inquiries, please contact your local securities regulator.
Cision Canada
22-05-2025
- Business
- Cision Canada
Canadian securities regulators expect to provide temporary relief from requirements for delivering proxy-related materials in event of postal suspension
VANCOUVER, BC, May 22, 2025 /CNW/ - On May 19, 2025, the Canadian Union of Postal Workers issued strike notice. In the event of a complete suspension of postal service, the Canadian Securities Administrators (CSA) anticipates publishing temporary relief from requirements to deliver proxy-related materials for shareholder meetings in respect of certain annual matters. Such relief recognizes that the suspension of postal service may impact a reporting issuer's ability to deliver proxy-related materials to all shareholders. The terms of any relief are expected to be substantially similar to the relief provided by the CSA on December 4, 2024, under Coordinated Blanket Order 51-931 Temporary Exemption from requirements in National Instrument 51-102 Continuous Disclosure Obligations and National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer to send certain proxy-related materials during a postal strike. Reporting issuers should carefully review all the conditions and requirements in the coordinated blanket order. Any exemption will address requirements under securities legislation only and will not extend to delivery obligations under corporate law. The CSA continues to expect that reporting issuers, intermediaries and all other parties involved in the proxy-voting process will work collaboratively during the postal service suspension and take all reasonable steps to facilitate the voting process. This includes using alternate delivery methods where available and taking other measures to increase transparency to shareholders regarding how to access proxy materials, obtain individual control numbers and vote. Reporting issuers or shareholders who have questions should contact their local securities regulator. The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets. For media inquiries, please contact: Ilana Kelemen Canadian Securities Administrators [email protected] Elise Palmer BC Securities Commission [email protected] For investor inquiries, please contact your local securities regulator.
