Topics F - O
Activity fees (exemptive relief applications, registration filings, etc.)
General guidance on fees
Notice of Amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees
Notice of Amendments and Changes to OSC Rule 13-502 Fees, osc Rules 13-503 (Commodity Futures Act) Fees, and Corresponding Companion Policies
Companion Policy 13-502CP Fees
Companion Policy 13-503CP (Commodity Futures Act) Fees
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 49
Late fees for late filing of forms and notices and for late fee payment
Changes to Companion Policy 13-503CP (Commodity Futures Act) Fees to OSC Rule 13-503 (Commodity Futures Act) Fees
Changes to Companion Policy 13-502CP Fees to OSC Rule 13-502 Fees
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 48
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39 - 41
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 18
Companion Policy 13-502CP Fees, section 4.3, 7.1-7.3
Companion Policy 13-503CP (Commodity Futures Act) Fees, section 3.3, section 5.1- 5.3
Participation fees - application of certain fee rules to public investment funds that have investment fund managers
Participation fees - Capital markets participation fees, general guidance
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 31
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 22-23
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 47 - 48
Companion Policy 13-502CP Fees, part 4
Companion Policy 13-503CP (Commodity Futures Act) Fees, part 3
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-46
Participation fees - Incorrect calculation or indirect avoidance of fees, including not reflecting all revenue from capital market activities
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 31
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 29
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 73 - 74
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, Page 23, Page 28
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 63-64
Companion Policy 13-502CP Fees, section 2.8
Companion Policy 13-503CP (Commodity Futures Act) Fees, section 2.8
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-46
Participation fees - Late fees and other consequences of late filing of Capital Markets Participation Fee Calculation Form 13-502F4
Participation fees - Registrants under both the Securities Act and the Commodity Futures Act
Participation fees - unregistered capital markets participants
Refunds generally not entitled
Wire transfer payments for EFT exempt firms
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.
Conflicts arising from fees charged to clients
See Conflicts of Interest ➜ Conflicts arising from fees charged to clients
Disclosure of fees received by registrants, such as referral fees, success fees and finder's fees
See Reporting to clients ➜ Report on charges and other compensation
Performance fees, calculation of
See Investment funds and investment fund managers ➜ Fees and commissions - Calculation of performance fees
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
Investment funds - IFRS and NI 81-106 Investment Fund Continuous Disclosure
Modernization of Investment Fund Product Regulation - Alternative Mutual Funds, page 6
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 45
Companion Policy 52-107CP Acceptable Accounting Principles and Auditing Standards, section 1.1
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
Net asset value (NAV) errors and adjustments
See Investment funds and investment fund managers ➜ Net asset value (NAV) errors and adjustments, including responsibility for NAV, NAV errors and NAV error correction
Registrants' annual financial statements and interim financial information - preparation in accordance with NI 52-107 and IFRS
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 33
CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations
OSC Staff Notice 52-723 Office of the Chief Accountant Financial Reporting Bulletin
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 37
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, sections 12.10 - 12.11
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 34
Companion Policy 52-107CP Acceptable Accounting Principles and Auditing Standards, part 2.7
Registrants' financial statements and interim financial information - separate (non-consolidated) financial statements for subsidiaries/jointly controlled entities
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
Activities of finders in private placements and prospectus offerings
Flow-through limited partnerships and finder’s fees paid to entities related to investment fund manager
see Flow-through limited partnerships ➜ "Finder's fees paid to entities related to investment fund manager"
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
Disclosure of past performance
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch,
See Registration - Firms ➜Exemptions from the requirement to register - foreign dealers and advisers
Finder's fees paid to entities related to investment fund manager
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
Rollovers of flow-through limited partnerships
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
Exemptions from registration - Commodity Futures Act (Ontario) - foreign dealers
See Registration - Firms ➜ Commodity Futures Act (Ontario)
Exemption from registration - U.S. broker-dealers
See Registration - Firms ➜ Exemptions from the requirement to register - foreign dealers and advisers
Time-limited relief granted to foreign broker-dealer to provide outsourced trading service to Canadian asset managers
See Over-the-counter (OTC) derivatives ➜ Contracts for difference (CFDs), foreign exchange contracts and similar OTC derivatives offered in Ontario
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 ➜ beginning with "Fund Facts"
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 ➜ Independent Review Committee (IRC)
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 89
Companion Policy 24-101CP Institutional Trade Matching and Settlement
CSA Staff Notice 24-314 Preparing for the Implementation of T+2 Settlement: Letter to Registered Firms
CSA Staff Notice 24-305 Frequently Asked Questions about National Instrument 24-101 - Institutional trade Matching and Settlement and Related Companion Policy (Revised)
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 66-67
Insurance requirements for advisers that hold or have access to client assets
Exemptions from registration - Commodity Futures Act (Ontario) - foreign dealers
See Registration - Firms ➜ Exemptions from the requirement to register - Commodity Futures Act (Ontario) - dealers
Fees - Participation fees payable by exempt international firms
See Fees - Regulatory fees for market participants ➜ Participation fees - Capital markets participation fees, general guidance
International advisers - exemption from the registration requirement
See Registration - Firms ➜ Exemptions from the requirement to register - advisers
See also Registration - Firms ➜ Exemptions from the requirement to register - foreign dealers and advisers
International dealers - exemption from the registration requirement
See Registration - Firms ➜ Exemptions from the requirement to register - dealers and underwriters
See also Registration - Firms ➜ Exemptions from the requirement to register - foreign dealers and advisers
International investment fund managers - registration requirements and exemptions
See Registration - Firms ➜ Investment fund managers - non-resident investment fund managers
International dealers - exemption from the registration requirement (Commodity Futures Act (Ontario))
See Registration - Firms ➜ Exemptions from the requirement to register - Commodity Futures Act (Ontario) - dealers
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 Financial reporting and subtopics
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
Client reporting requirements for investment fund managers
See Reporting to clients ➜ Investment fund managers - security holder statement requirements for clients of investment fund managers
Closed-end funds (non-redeemable investment funds)
Consultants to investment funds - registration as adviser
Definition of "investment fund"
Disclaimers of liability for third party information in prospectuses
Expenses - allocation of expenses to investment funds, fund vs. investment fund manager expenses
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 43-44
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55-56
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 72
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 5787
Fees and commissions - Disclosure of fees negotiated separately between investor and dealer (advisory fees) or fund manager (management/admin fees)
Fees and commissions - Disclosure of management fees - fees payable directly by securityholders
Fees and commissions - Disclosure of trailing commissions paid to discount brokers
Fees and commissions - discount fee arrangements
Fees and commissions - Excessive fees
Fees and commissions - Fixed administration fees with adjustment payments
Fees and expenses of funds - Disclosure in offering documents
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 5792
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 79
Fiduciary duty - statutory best interest standard and duty of care of investment fund managers
Forward purchase agreements (pre-paid forwards)
Fund Facts point of sale disclosure
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 75
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 60-61
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 51
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
Fund-of-funds - disclosure of fees and expenses
General guidance - investment fund managers
Independent Review Committee (IRC)
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 54-55
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 49-50
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 53 - 57
Inter-fund trades (cross trades)
See Portfolio managers ➜ Trades between client accounts and inter-fund trades (prohibited cross trades)
International Financial Reporting Standards (IFRS) and investment funds
See Financial reporting ➜ Investment funds - International Financial Reporting Standards (IFRS) and NI 81-106 Investment Fund Continuous Disclosure
Liquidity (mutual fund portfolio assets)
Marketing practices
See Sales practices (mutual funds) Also see Marketing practices
Money-market funds, hedge funds and non-conventional investment funds - market turmoil review, findings and suggested practices
Mortgage investment entities and investment funds
Net asset value (NAV) errors and adjustments, including responsibility for NAV, NAV errors and NAV error correction
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 58-60
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 12.14
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, page 32
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 76 - 77
Offering memoranda
Organizational structure of an investment fund manager
Orphaned accounts and security holder statements
See Reporting to clients ➜ Security holder statements and orphaned accounts
Outsourcing to third party service providers
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 64-65
See Compliance system of registered firm ➜ Oversight of third party service providers (outsourcing) - all registrants and Oversight of third party service providers (outsourcing) - investment fund managers
Prohibited investments for investment funds
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 44
OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 37
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 69
See also Portfolio managers ➜ Trades between client accounts and inter-fund trades (prohibited cross trades)
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 74
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 33-34
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 53 - 55, page 77
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-26
Prohibited lending by investment fund manager to investment fundProhibited lending by investment fund manager to investment fund
Registration - investment fund managers
See various subtopics under Registration - Firms including:
Registration - Firms ➜ Investment fund managers;
Registration - Firms ➜ Investment fund managers - fund complexes or groups with more than one investment fund manager;
Registration - Firms ➜ non-resident investment fund managers
Registration exemptions for non-resident investment fund managers
See Registration - Firms ➜ Investment fund managers - non-resident investment fund managers
Sales communications by publicly offered investment funds
Sales practices (mutual funds)
OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35 - 36
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 56-63
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 70-73
Companion Policy to National Instrument 81-105 Mutual Fund Sales Practices
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 65
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 5778, Appendix A
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 71 - 72
The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch
Short-term trading and excessive trading
Valuation of securities held in investment funds
Yield/income funds - regular distributions in excess of earnings
Accredited investor qualification and determining whether prospectus exemption is available
See Exempt market dealers (EMDs) ➜ Accredited investor exemption and sale of exempt securities to non-accredited investors
Client-directed trade instructions
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 35
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 50-55
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 415-417
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, pages 5649-50
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-27
Delegation of KYC & suitability obligations by portfolio manager to affiliated dealer
Delegation of KYC & suitability obligations by portfolio managers to referral agents
See also Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ Delegation of KYC & suitability obligations, general guidance
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 51-52
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43-44
Delegation of KYC & suitability obligations, general guidance
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 37
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39 - 41
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 409
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.3
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 5651
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 61 - 63
Disclosure to clients re KYC and suitability
See also Relationship disclosure information (RDI) ➜ Suitability obligation disclosure
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2
Inappropriate use of disclaimers and limitation of liability
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 74-75
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 5650
KYC and suitability - insider status of clients
See Portfolio managers ➜ Insider status of clients and insider trading rules
KYC and suitability - general guidance
OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 34-35
OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 34
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 48
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35-36
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-34
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 52 - 53, pages 65 - 67
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, sections 13.2, section 13.3
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
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 41 - 43
CSA Staff Notice 33-315 Suitability Obligation and Know Your Product
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, pages 5651-5652
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 14-16, pages 53-54
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 52-53
KYP and product due diligence
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 47-48
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-46, pages 47-48
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 410
CSA Staff Notice 33-315 Suitability Obligation and Know Your Product
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 60 - 61
KYP and suitability
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-46, pages 47-48
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
CSA Staff Notice 33-315 Suitability Obligation and Know Your Product
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.3
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 14-16, pages 53-54
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 52-53
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 26-27
On-line advising KYC process and suitability determination
See On-line advising or dealing services ➜ On-line advisory services by portfolio managers
Portfolio managers and KYC in Investment Policy Statements (IPSs) and Investment Management Agreements (IMAs)
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 409
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 48-49
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 16
Senior investors
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 48-51
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 36-37
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 38-39, pages 57-58
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 41-42
Suitability of trades, advice and/or investments
Also see Exempt market dealers (EMDs) ➜ Accredited investor exemption and 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, page 413
CSA Staff Notice 33-315 Suitability Obligation and Know Your Product
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
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 53-54
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-27
Restriction on lending to clients
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 60-61
See Crowdfunding under MI 45-108 ➜ Restricted dealer funding portal - restriction on lending
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations section 13.12
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 Portfolio managers, also see topic/subtopic for specific subject matter
Calculation methodology
See Reporting to clients ➜ Market value of investments and accounts
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
Benchmarks
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 73-74
CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, pages 7441-7442
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 35-36
Exaggerated and unsubstantiated claims
OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 66
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43-44
CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, pages 7440-7441
OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33, 37
Funding portals
See Crowdfunding under MI 45-108 ➜ Funding portals - advertising and general solicitation
General guidance
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43-44
CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 73-74
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 44-45, pages 55-56
OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 37-38
Hypothetical performance data
Improper marketing of Canadian Investor Protection Fund coverage
Names and titles - using titles that imply registration; inappropriate use of business or trade names
Performance composites
Performance returns from a previous firm, and from proprietary firm and individual portfolio manager accounts
Sales communications by publicly offered investment funds
See Investment funds and investment fund managers ➜ Sales communications by publicly offered investment funds
Use of another registrant's name
Use of social media
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
CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, page 7438
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 38-39
OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, page 33
See Complaint handling ➜ Dispute resolution service
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
Mortgage investment entities and investment funds
Registration obligations - investment fund manager, adviser, dealer
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27-28
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 22-23
CSA Staff Notice 31-323 Guidance Relating to the Registration Obligations of Mortgage Investment Entities
OSC Staff Notice 81-722 Mortgage Investment Entities and Investment Funds
See Registration - General guidance ➜ National Registration Database (NRD)
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 ➜ Net asset value (NAV) errors and adjustments, including responsibility for NAV, NAV errors and NAV error correction
Guidance on use of offering memoranda in connection with distributions in reliance on certain prospectus exemptions
Investment funds offered by offering memorandum, disclosure in
Offering memorandum prospectus exemption
See Prospectus exemptions ➜ OM exemption
Right of action for damages and right of rescission in
See Complaint handling ➜ Dispute resolution service
Contracts for difference (CFDs) offered through internet by unregistered entities
See Over-the-counter (OTC) derivatives ➜ Contracts for difference (CFDs), foreign exchange contracts and similar OTC derivatives offered in Ontario
Internet platforms and other unregistered entities engaged in registrable activities
Intermediaries in the exempt market
On-line advisory services by portfolio managers
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 60-63
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 52-54, pages 58-59
CSA Staff Notice 31-342 Guidance for Portfolio Managers Regarding Online Advice
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 69 - 70
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 46-47
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 27
"Online" delivery platforms: new business models
Peer-to-peer lending websites
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-19
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 27
OSC Media Release June 19, 2015 OSC Sets Out Expectations for Businesses Planning to Operate Peer-to Peer Lending Websites
See Conflicts of interest ➜ Outside business activities of registered or permitted individuals
See Compliance system of registered firm ➜ Oversight of third party service providers (outsourcing) - investment fund managers, also see subtopic Oversight of third party service providers (outsourcing) - all registrants
Contracts for difference (CFDs), foreign exchange contracts and similar OTC derivatives offered in Ontario
Definition of derivatives for purpose of derivative data reporting OSC Rule 91-507
Derivatives data reporting requirements
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55-56
Companion Policy 91-507CP Trade Repositories and Derivatives Data Reporting, CP Parts 1, 3
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 15 - 16
OSC compliance reviews
Multilateral CSA Staff Notice 91-306 Compliance Review Findings for Reporting Counterparties
OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55-56
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 86-87
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 15 -16
OSC Staff Notice 91-704 Compliance Review Plan for OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting
Rulemaking proposals
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 15 - 16
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 9
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 9-10
OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 13
Failure to provide the required notice
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43 - 44
OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 18, pages 32-33
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39 - 41
General guidance
OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 37-38
OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43 - 44
Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 11.9, section 11.10
OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 31-32
OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39 - 41