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Canada Financial Services Industry Mutual Funds

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CIRO Publishes Phase 5 of its Rule Consolidation Project

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The Canadian Investment Regulatory Organization (“CIRO”) has published for comment Phase 5 of its rule consolidation project (the “Rule Consolidation Project”). Phase 5 involves rules relating to outsourcing and service...more

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CSA Propose Amendments to the Principal Distributor Model for Mutual Funds

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The Canadian Securities Administrators (“CSA”) have published for comment amendments and changes to the principal distributor model in the distribution of mutual fund securities (collectively, the “Proposed Amendments”). The...more

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Countdown to T+1: A Shorter Standard Settlement Cycle is Coming Soon

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The standard settlement cycle for certain securities in Canada and the United States will be shortened from trade date plus two business days (“T+2”) to trade date plus one business day (“T+1”) in May 2024. A shorter...more

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Pleading Breaches of Fiduciary Duties in Class Proceedings: Court of Appeal Keeps the Bar Low in Ontario

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In Boal v International Capital Management Inc.(“Boal”), the Ontario Court of Appeal (the “Court”) considered the pleading requirements for certification of a breach of fiduciary duty cause of action. In holding that it was...more

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