Topics A - E
See Prospectus exemptions, also see Exempt market dealers (EMDs) ➜ Accredited investor exemption and sale of exempt securities to non-accredited investors
See Portfolio managers and its subtopics, as well as other relevant topics
See Compliance system of registered firm ➜ Annual compliance report
CSA Staff Notice 31-352 Monthly Suppression of Terrorism and Canadian Sanctions Reporting Obligations, pages 1-6
Compliance and Registrant Regulation Branch e-mail blast July 27 2015, Monthly Suppression of Terrorism and UN Sanctions Report
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 20-21
For guidance for use in investment performance reports (under the cost disclosure and performance reporting requirements in NI 31-103), see Reporting to Clients ➜ Investment performance report - use of benchmarks
For general guidance, see Marketing practices ➜ Benchmarks
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 39-40
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 63-66
Companion Policy 23-101CP Trading Rules, section 1.1.1, Part 4
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 24-25
Note to users: The OSC’s Investment Funds and Structured Products Branch provides guidance for issuers of publicly-offered investment funds. You can locate guidance for public fund issuers by clicking: Investment Funds homepage and Investment Funds Practitioner publications
See Investment funds and investment fund managers ➜ Fiduciary duty - statutory best interest standard and duty of care of investment fund managers
See Compliance system of registered firm ➜ Business continuity plan (BCP)
See Fees - Regulatory fees for market participants ➜ starting with Participation fees
Calculation of excess working capital and Form 31-103F1 Calculation of excess working capital
CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 12.1, section 12.2
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-35
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 42-44
Insufficient working capital, including failure to report to OSC
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 45
CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, p35-36
Related party receivables
Subordinated debt and subordination agreements
See Relationship disclosure information (RDI) ➜ Disclosure of operating and transaction charges paid by clients and other compensation paid to firm (guidance on disclosure requirements at beginning of and during client relationship)
See Reporting to clients ➜ Report on charges and other compensation for guidance on disclosure specific to the annual report
Switch or change transactions - pre-trade disclosure and other obligations
See Compliance system of registered firm ➜ Chief Compliance Officer (CCO)
CRM2 rule implementation
CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 9 - 10
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 7
Compliance and Registrant Regulation Branch e-mail blast March 7, 2014, Planning tips for implementing the "CRM2" amendments to NI 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations,
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 12 - 13
Guidance on Client Relationship Model's (CRM2) substantive rules
See Relationship Disclosure Information (RDI) and Reporting to clients
Exemptions from the registration requirement - foreign dealers - unsolicited trade and hedger exemptions
See Exemptions from the requirement to register - advisers ➜ Exemptions from the requirement to register - Commodity Futures Act (Ontario) - dealers
Participation fees - Registrants under both the Securities Act and the Commodity Futures Act
See Fees - Regulatory fees for market participants ➜ Participation fees - Registrants under both the Securities Act and the Commodity Futures Act
Registration under the Commodity Futures Act (Ontario) - firms and individuals
See Registration - Firms ➜ Commodity Futures Act (Ontario)
Dispute resolution service
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
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 87-88
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16 - 17
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.16
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 8
CSA Staff Notice 31-338 Guidance on Dispute Resolution Services - Client Disclosure for Registered Dealers and Advisers that are not Members of a Self-Regulatory Organization
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 13 - 14
General guidance, including documenting and responding to complaints
Compliance review preparation and process
The OSC Compliance Review Process and Effective Compliance Systems
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30-31, pages 48-50
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35 - 36
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36 - 37
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-28
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35-39
Compliance with data reporting requirements of OSC Rule 91-507
See Over-the-counter (OTC) derivatives ➜ OSC compliance reviews
Contacting investors
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 39
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 14
Outcomes of compliance reviews
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 34-35
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 32
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 37 - 38
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 38 - 39
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 27
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35-36, Appendix A
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 30 - 32
Repeat common deficiencies
Risk assessment questionnaire (RAQ)
OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 30
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 33
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 31
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 36
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 37
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 36
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33
Risk-based approach to compliance reviews
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 33
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 31
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 36
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-26
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 30
Sweep reviews
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-34
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 31
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36 - 37
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 37 - 38
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 26
Annual compliance report
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 28
CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 31-32
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 46-48
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39-40
Chief Compliance Officer (CCO)
CSA Staff Notice 31-358 Guidance on Registration Requirements for Chief Compliance Officers and Request for Comments
Notice of Amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 29
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-25
See Crowdfunding under MI 45-108 ➜ Restricted dealer funding portal - chief compliance officer
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, part 5 and section 5.2, section 11.3, section 3.4
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30-31
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28-29, pages 39-40
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39 - 40
Compliance and Registrant Regulation Branch e-mail blast May 15, 2012, OSC message to all CCOs and UDPs of registered firms re: concerns about inadequate compliance systems and CCOs not adequately performing responsibilities
Cyber security
See Cyber security
Fees and commissions - Excessive fees
Inadequate compliance systems and effective compliance systems - all registrants
Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, pages 15-17
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 34
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 69
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 11.1
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30-31
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 29, pages 39-40
Compliance and Registrant Regulation Branch e-mail blast May 15, 2012, OSC message to all CCOs and UDPs of registered firms re: concerns about inadequate compliance systems and CCOs not adequately performing responsibilities
Inadequate compliance systems and effective compliance systems - exempt market dealers
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 34
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 53 - 55
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 59 - 60
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, page 39
Insider status of clients and insider trading rules
See Portfolio managers ➜ Insider status of clients and insider trading rules
Internal controls and policies and procedures
Effective Compliance Systems - Exhibit 1: Policies and Procedures Content
The OSC Compliance Review Process and Effective Compliance Systems
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 36-42
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 11.1
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43 - 44
Internal controls and policies and procedures - portfolio management and trading practices
Outside business activities - policies, procedures and supervision
Oversight of third party service providers (outsourcing) - all registrants
Oversight of third party service providers (outsourcing) - investment fund managers
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 29-30
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 41-42
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 32-33
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 57-58
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 70-71
OSC Staff Notice 33-743 Guidance on Sales Practices, Expense Allocation and other Relevant Areas Developed from the Results of the Targeted Review of Large Investment Fund Managers, page 18
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 21
Oversight of third party service providers (outsourcing) - service arrangements between portfolio managers and IIROC dealer members
Risk management at registered firms
Supervision - dealing representatives who speak multiple languages
Supervision - general guidance
Supervision of advising representatives, associate advising representatives and research analysts by portfolio managers
Supervision of dealing representatives by exempt market dealers
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55 - 57
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55-56
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 54
Ultimate Designated Person (UDP)
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 36
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 5, section 5.1, section 11.2
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30-31
Conflicts arising from trades alongside clients
Conflicts arising from fees charged to clients
Conflicts of interest between the registrant and a client, disclosure of
Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, pages 14-15
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 53-54
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.4
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 43
CSA Staff Notice 31-334 CSA Review of Relationship Disclosure Practices, pages 7125-7126
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 51
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-34
Conflicts of interest between the registrant and a client, identifying and responding to
Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, page 4
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 53-54
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 44-45
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.4
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-34
Financial conflicts of interest
Finder's fees paid to entities related to investment fund manager of flow-through limited partnerships
See Flow-through limited partnerships ➜ Finder’s fees paid to entities related to investment fund manager
Inappropriate sale of a registrant's securities to the registrant's clients
Managed account and inter-fund trades (cross trades)
See Portfolio managers ➜ Trades between client accounts and inter-fund trades (prohibited cross trades)
Outside business activities of registered or permitted individuals
Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, page 9-10
OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-27
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 31-32
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 49 - 51
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.4
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30 - 31
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-17
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28-29, page 57
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 58
Referral arrangements
Related or connected issuers - inappropriate use by exempt market dealers of investor monies raised through related or connected issuers
See Exempt market dealers (EMDs) ➜ Related or connected issuers - inappropriate use by exempt market dealers of investor monies raised through related or connected issuers
Related parties, selling securities of
Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance , page 7, page 13-14
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 7
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 13
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 40-41
CSA Staff Notice 31-343 Conflicts of interest in distributing securities of related or connected issuers
See Crowdfunding under MI 45-108 ➜ Funding portals - restricted dealing activities - related and connected issuers
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 57 - 58, pages 60 - 62
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 51 - 52, pages 59 - 60
Companion Policy 33-105CP Underwriting Conflicts, page 16
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.4, section 13.6
CSA Staff Notice 31-336 Guidance for Portfolio Managers, Exempt Market Dealers and Other Registrants on the Know-Your Client, Know-Your-Product and Suitability Obligations, page 413
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 42-43
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 50-51
Serving on a board of directors
See also Conflicts of interest ➜ Outside business activities of registered or permitted individuals
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.4
Note to users: The OSC’s Investment Funds and Structured Products Branch provides guidance for issuers of publicly-offered investment funds. You can locate guidance for public fund issuers by clicking: Investment Funds homepage and Investment Funds Practitioner publications
See Over-the-counter (OTC) derivatives ➜ Contracts for difference (CFDs), foreign exchange contracts and similar OTC derivatives offered in Ontario
Crowdfunding under MI 45-108 - prospectus exemption
Crowdfunding under MI 45-108 -resale of securities distributed under the crowdfunding prospectus exemption
Form 45-106F1 Report of exempt distribution
See Prospectus exemptions ➜ Reports of exempt distributions
Funding portals - access to funding portal
Funding portals - advertising and general solicitation
Funding portals - denial of issuer access and termination
Funding portals - issuer access agreement
Funding portals - obligation to review materials of eligible crowdfunding issuer
Funding portals - Online platform acknowledgement
Funding portals - purchaser requirements prior to purchase
Funding portals - registered dealer
Funding portals - registration requirements
Funding portals - restricted dealer
Funding portals - monitoring purchaser communications
Funding portals - restricted dealing activities - related and connected issuers
Funding portals - restricted dealing activities - payments by issuers
Restricted dealer funding portal - chief compliance officer
Restricted dealer funding portal - permitted dealing activities
Restricted dealer funding portal - proficiency of individuals
Restricted dealer funding portal - prohibition on providing recommendations or advice
Restricted dealer funding portal - restriction on lending
OSC News Release dated February 22, 2023, requesting unregistered crypto asset trading platforms operating in Canada to provide a pre-registration undertaking
OSC News Release dated April 19, 2021, requesting crypto asset trading platforms operating in Ontario or allowing access to Ontarians to come into compliance under Ontario securities law
OSC News Release dated October 5, 2023, interim approach to value-referenced crypto assets
CSA Staff Notice 46-308 Securities Law Implications for Offerings of Tokens, pages 1-8
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
CSA Staff Notice 46-307 Cryptocurrency Offerings
Note to users: The OSC’s Investment Funds and Structured Products Branch provides guidance for issuers of publicly-offered investment funds. You can locate guidance for public fund issuers by clicking: Investment Funds homepage and Investment Funds Practitioner publications
Adviser with inappropriate access to client's custody accounts
Client and investment fund assets held by a registered firm in trust
Disclosure of where and the manner in which client’s assets are held or accessed
Insurance requirements for registered firms that hold or have access to client assets
See Insurance ➜ Insurance requirements for advisers that hold or have access to client assets
OSC, CSA review of custody requirements for non-SRO registrants
Prohibition on self-custody and the use of a custodian that is not functionally independent
Registered firm holding client assets - holding in separately designated trust accounts
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 31
OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 33
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 46
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 67-68
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 71 - 73
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.6
OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24
Restriction on self-custody and qualified custodian requirement
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 38
CSA Staff Notice 33-321 Cyber Security and Social Media
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 21
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 40
Note to users: The OSC’s Investment Funds and Structured Products Branch provides guidance for issuers of publicly-offered investment funds. You can locate guidance for public fund issuers by clicking: Investment Funds homepage and Investment Funds Practitioner publications
Note to users: The OSC’s Investment Funds and Structured Products Branch provides guidance for issuers of publicly-offered investment funds. You can locate guidance for public fund issuers by clicking: Investment Funds homepage and Investment Funds Practitioner publications
For guidance on disclosure by specific entities and/or in specific contexts, see specific topics or subtopics. Some helpful topics may be Relationship disclosure information (RDI), Reporting to clients and Investment funds and investment fund managers and Conflicts of interest
Registrants' disclosure obligations to clients, general guidance
See Complaint handling ➜ Dispute resolution service
Dealer registration relief in connection with leveraged employee share offering
Responsibility to ensure compliance with terms and conditions
Note to users: The OSC’s Investment Funds and Structured Products Branch provides guidance for issuers of publicly-offered investment funds. You can locate guidance for public fund issuers by clicking: Investment Funds homepage and Investment Funds Practitioner publications
Electronic delivery of documents to investors by market participants
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 51-52
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, part 14
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35-36
Electronic delivery of documents to the OSC by market participants
Companion Policy 23-103CP Electronic Trading and Direct Electronic Access to Marketplaces,
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 54-55
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 69
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 47-48
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 66
Accredited investor exemption and sale of exempt securities to non-accredited investors
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 46-47
OSC Staff Notice 33-735 Sale of Exempt Securities to Non-Accredited Investors
CSA Staff Notice 31-336 Guidance for Portfolio Managers, Exempt Market Dealers and Other Registrants on the Know-Your Client, Know-Your-Product and Suitability Obligations, pages 404-405, pages 407-408
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 14-15, page 52
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 34-35, page 53
OSC Staff Notice 33-740 Report on the Results of the 2012 Targeted Review of Portfolio Managers and Exempt Market Dealers to Assess Compliance with the Know-Your-Client, Know-Your-Product and Suitability Obligations, page 5649
Bail in Debt
Captive dealers
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 50-51
See Conflicts of interest ➜ Related parties, selling securities of
Chief Compliance Officer (CCO) in name only
Client-directed trade instructions, misuse of
See Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ Client-directed trade instructions
Crowdfunding under MI 45-108
Funding portals
Improper use of firm's registration, including "renting out"
Individuals trading without registration
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 48-49
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 55
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 61-63
Know-your-client (KYC), know-your-product (KYP) and suitability requirements
See Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ KYC and suitability - general guidance
Also see Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ Client-directed trade instructions
Marketing and client disclosure
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 55-56
Please also see: Marketing practices and associated subtopics
And also see Relationship disclosure information (RDI) ➜ General guidance, and other relevant sub-topics
Permitted activities for EMDs
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 56-57
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 14
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 7.1
Related or connected issuers - inappropriate use by exempt market dealers of investor monies raised through related or connected issuers
Related or connected issuers, selling securities of
See Conflicts of interest ➜ Related parties, selling securities of
See also Prospectus exemptions and subtopics
Reporting the sale of exempt securities to the OSC
See Prospectus exemptions ➜ Reports of exempt distributions
Resale restrictions on exempt securities
See Prospectus exemptions ➜ Resale restrictions on exempt securities
Sale to non-accredited investors
See Exempt market dealers (EMDs) ➜ Accredited investor exemption and sale of exempt securities to non-accredited investors
Supervision of dealing representatives by exempt market dealers
See Compliance system of registered firm ➜ Supervision of dealing representatives by exempt market dealers
Certain exemptions for registered sub-advisers
Exemptions available to IIROC and MFDA members and their dealing representatives
Advising generally (not tailored to a recipient)
Certain exemptions for registered sub-advisers
Cross-border trades (jitneys)
Dealer registration relief in connection with leveraged employee share offering
Distributions outside Canada
IIROC members with discretionary authority
Incidental advice on Canadian securities
International dealer
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 56 - 57
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 21-23
CSA Staff Notice 31-346 Guidance as to the Scope of the International Dealer Exemption in relation to Foreign-Currency Fixed Income Offerings by Canadian Issuers
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.18
Investment fund trades by adviser to managed account
Self-directed registered education savings plan (RESP)
Trades through or to a registered dealer
Trades through a registered dealer by a registered adviser
When not available to a registrant