Regulatory updates

For over 30 years, Fidelity Investments Canada has worked with financial advisors to put the best interests of investors first.

As your trusted partner, we have designed useful tools and information to help you understand more about the current regulatory environment and engage in the issues that we all face.

We are always looking for ways to improve and to serve you better – if you have any questions, please email us at regulatoryinfo@fidelity.ca.

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Canadian Investment Regulatory Organization (“CIRO”) Rule Proposals

February 2024

The Mutual Fund Dealers Association of Canada (“MFDA”) and Investment Industry Regulatory Organization of Canada (“IIROC”) combined on January 1, 2023, to establish one organization now known as CIRO.

Rule Consolidation Project - Phase 2

CIRO has published for comment Phase 2 of its Rule Consolidation Project rule proposals. CIRO is seeking feedback on the proposals, which are intended to adopt rules that are unique to the current IIROC or MFDA rules and that have been assessed as not having a material impact on stakeholders. Phase 2 of CIRO’s consultation involves the proposed adoption of rules relating to margin, debt market and inter-dealer bond brokers and trading. 

The Regulatory Pulse - Fourth Quarter 2023

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The Canadian Investment Regulatory Organization (“CIRO”)

November 2023

On January 1, 2023, the Mutual Fund Dealers Association of Canada (“MFDA”) and Investment Industry Regulatory Organization of Canada (“IIROC”) combined to establish one organization now known as the CIRO.

To begin the process of establishing a framework of consolidated rules that will apply to all CIRO dealer members, CIRO has published for comment Phase 1 of its Rule Consolidation Project rule proposals . CIRO is seeking feedback on the proposals for the new rule set structure, including definitions, rule interpretations, exemptions, and general standards of conduct. In most cases, the rule proposals adopt existing provisions from the IIROC rules, MFDA rules, or both.

The Regulatory Pulse - Third Quarter 2023

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Regulatory Dos and Don’ts for Advisors

Don’t miss our conversation with Ellen Bessner, a leading defense lawyer for advisors and dealers in regulatory and litigation and best-selling author of Advisor at Risk and Communication Risk. Learn more about regulatory and compliance best practices and how to have more effective conversations with your clients. 

Date: Tuesday, October 24, 2023

(advisor login required)

Watch the replay

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The Canadian Investment Regulatory Organization (“CIRO”)

September 2023

On January 1, 2023, the Mutual Fund Dealers Association of Canada (“MFDA”) and Investment Industry Regulatory Organization of Canada (“IIROC”) combined to establish one organization now known as the CIRO.

CIRO has published its Annual Priorities for Fiscal 2024 which detail CIRO’s areas of focus for the April 2023 to March 2024 period.

The Regulatory Pulse - Second Quarter 2023

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New SRO Update: Regulatory issues and upcoming rules for financial advisors

Join Karen McGuinness for a conversation about the Canadian Investment Regulatory Organization (CIRO), the approved name for the new Self-Regulatory Organization. 

Date: Thursday, June 8, 2023

(advisor login required)

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Breaking news: Total cost reporting – What does it mean for advisors? – April 25, 2023

Sian Burgess, Fidelity’s Senior Vice President, Fund Oversight, provides a breakdown of the total cost reporting requirements and for an analysis of what they will mean for advisors and what to expect. 

Date: Tuesday, April 25, 2023

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Total Cost Reporting Disclosure for Investors

The Canadian Securities Administrators (the “CSA”) and Canadian Council of Insurance Regulators (the “CCIR”) have published the final enhanced cost disclosure requirements for investment funds and new cost and performance reporting requirements for segregated funds.

The Regulatory Pulse - First Quarter 2023

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In-depth: Interview with FSRA’s Huston Loke

Andrea Rigobon, Fidelity’s Director of Procurement and Senior Legal Counsel, sits down with FSRA’s Huston Loke to discuss recent laws and regulatory changes affecting the Canadian financial services industry. 

Date: Tuesday, March 28, 2023  

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Total Cost Reporting Disclosure for Investors

March 2023

On April 28, 2022, the Canadian Securities Administrators (the “CSA”) and Canadian Council of Insurance Regulators (the “CCIR”) published proposed enhanced cost disclosure requirements for investment funds and new cost and performance reporting requirements for individual variable insurance contracts (“segregated funds”).

The Regulatory Pulse - Fourth Quarter 2022