The Ontario Securities Commission (OSC) announced plans to hold four new compliance seminars for registered firms in 2014.
The sessions, which are part of the OSC’s Registrant Outreach program, are intended to help registrants strengthen their compliance practices. The new seminars include a session to provide an overview of the registration process, and three seminars targeted at different registration categories (exempt market dealers, portfolio managers and investment fund managers), on relevant compliance issues.
The registration overview sessions will take place in February, with a webinar on Feb. 19, and in-person event on Feb 20. It will examine the various registration forms and common issues with their completion. There will also be a discussion of current issues that may impact a firm’s registration application and the implications of late or deficient registration filings.
The exempt market dealer seminars will be in April (webinar on April 22, and in-person on April 24), with staff from the exempt market dealer (EMD) team discussing key issues relating to EMD operations and the associated regulatory concerns. There will also be discussion of common EMD deficiencies that are observed in compliance reviews.
In May, it will host portfolio managers (webinar May 20, and in-person May 22). OSC staff will discuss key issues, regulatory concerns, and common deficiencies affecting advisors.
Finally, the sessions for investment fund managers will be held in June (webinar June 24, and in-person June 26). As with the other events, OSC staff will detail common deficiencies uncovered in compliance reviews and recent sweeps, and they will provide guidance in key areas. Additionally, they will provide updates on initiatives that impact IFMs, and ongoing policy initiatives affecting investment funds.
The OSC reports that, in 2013, over 1,000 individuals attended these sessions, both in-person and via webinar.