ontario securities act general regulation

1990, c. S.5, s. 124. (1) A company or person, other than an individual, that purchases or sells securities of an issuer with knowledge of a material fact or material change with respect to the issuer that has not been generally disclosed is exempt from subsection 76 (1) of the Act and from liability under section 134 of the Act if the company or person proves that no individual who made or participated in making the decision to purchase or sell the securities, (a) had knowledge of the material fact or material change; or. The incorporation and initial capitalization of mutual funds. (1) Every dealer, other than an exempt market dealer as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, shall participate in a compensation fund or contingency trust fund approved by the Commission and established by. 2019, c. 7, Sched. (3) The regulations may prescribe conditions and restrictions that apply to an exemption under this section. 92.-93.4 Repealed: 2015, c. 38, Sched. Prohibited titles would need to be reviewed on a periodic basis to ensure the list remains current and appropriate. An order rescinding any transaction entered into by the person or company relating to trading in securities including the issuance of securities. 138.5 (1) Damages shall be assessed in favour of a person or company that acquired an issuer’s securities after the release of a document or the making of a public oral statement containing a misrepresentation or after a failure to make timely disclosure as follows: 1. iv. Are there any particular foreign credentials that would meet the proposed credential recognition standards? 26, s. 5. 3. 20, s. 9 (1, 2); 2006, c. 33, Sched. 55.2 Providing for the application of Part XXIII.1 to the acquisition of an issuer’s security pursuant to a distribution that is exempt from section 53 or 62 and to the acquisition or disposition of an issuer’s security in connection with or pursuant to a take-over bid or issuer bid. 28, s. 16 (1). applies. A partner, director or officer of the adviser. 1.6 Prescribing activities in which a person or company whose registration is suspended or restricted may engage or activities in which he, she or it is prohibited from engaging. (ii) a statutory procedure under which one company takes title to the assets of the other company that in turn loses its existence by operation of law, or under which the existing companies merge into a new company, where one of the amalgamating or merged companies or the continuing company has been a reporting issuer for at least twelve months, or, (f) that is designated as a reporting issuer in an order made under subsection 1 (11); (“émetteur assujetti”), (a) in respect of a registered dealer, an individual who trades securities on behalf of the dealer, whether or not the individual is employed by the dealer, or, (b) in respect of a registered adviser, an individual who provides advice on behalf of the adviser with respect to investing in, buying or selling securities, whether or not the individual is employed by the adviser; (“représentant”). 64. 437/10, s. 1 (2). R.S.O. 161. These concerns would be amplified if the government restricted the use of the title “Financial Planner” without also restricting similar titles, as individuals might attempt to use these similar titles to avoid the credential requirement. 57/04, s. 1; O. Reg. As part of this commitment, the Ontario Ministry of Finance is seeking your input on the regulation of financial planners in the province. (4) No person shall be appointed as an auditor under subsection (1) unless the person has practised as an auditor in the securities industry in Canada for five years or more.

1994, c. 11, s. 358; 2013, c. 2, Sched. 2009, c. 18, Sched. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection (5) is repealed and the following substituted: “financial or other interest” in a security or derivative includes. (a) with respect to securities, a person or company that. (b) that the registration is otherwise objectionable. The government is committed to strengthening consumer protection while supporting innovation and growth in the financial services sector. 2004, c. 31, Sched. Schedule 1 Revoked:  O. Reg. An order prohibiting the voting or exercise of any other right attaching to securities by the person or company. R.S.O. The person or company has been convicted in any jurisdiction of an offence under a law respecting the buying or selling of securities or derivatives.

(11) The Commission shall not adopt a policy that, by reason of its prohibitive or mandatory character, is of a legislative nature. (See:  O. Reg. (“personne ou compagnie liée”) 2014, c. 7, Sched. (a) another securities, derivatives or financial regulatory authority; (b) any self-regulatory body or organization; or. 455/92, s. 1. Accessibility | Z.5, s. 17; 2007, c. 7, Sched. 18, s. 41 (1). 26, s. 12 (2). Except as otherwise provided in the Act, section 174 of this Regulation, Ontario Securities Commission Rule 11-501 Electronic Delivery of Documents to the Ontario Securities Commission, National Instrument 13-101 System for Electronic Document Analysis and Retrieval (SEDAR), Ontario Securities Commission Rule 55-502 Facsimile Filing or Delivery of Section 109 Reports, National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI) or National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers. (c) to solicit expressions of interest from a prospective purchaser if, prior to such solicitation or forthwith after the prospective purchaser indicates an interest in purchasing the security, a copy of the preliminary prospectus is forwarded to him, her or it. (6) Despite subsection (5), if a proceeding is commenced under section 122 or 128 or under the rules of a self-regulatory organization with respect to a registrant, or a hearing is commenced under section 127 with respect to the activities of the registrant, the registrant’s registration continues to remain suspended until an order has been made by the court or a decision is made by the Commission or self-regulatory organization in the proceeding or hearing. � , : � � � � T X � � � � � � � � � : R k � � � � ( ) - ] { � � � o p � � � � K L 8 � - ������������������������������������������������������������������j Liability for misrepresentation in prospectus. the composition of the body and qualifications for membership on the body, including matters respecting the independence of members, and the process for selecting the members. 34, s. 12 (3). 22. 26, s. 4. The Expert Committee identified the proliferation of unregulated titles in the financial services industry as a key consumer protection concern. (c) in an issuer in which any of the following has a significant interest: (i) any officer or director of the investment fund, its management company or distribution company or an associate of any of them; or. 19.1 Prescribing one or more classes of contracts or instruments that are not derivatives for the purpose of prescribed provisions of Ontario securities law and prescribing those provisions. 1990, c. S.5, s. 120. Consolidation Period:  From January 1, 2017 to the e-Laws currency date. (2) A recognition under this section shall be made in writing and is subject to such terms and conditions as the Commission may impose. Prescribing requirements relating to derivatives, including.

21.2.1 (1) The Commission may, on the application of a quotation and trade reporting system, recognize the quotation and trade reporting system if the Commission is satisfied that to do so is in the public interest. What changes, if any, would you suggest to the credential recognition standards above? 1994, c. 33, s. 8. (5) The Commission may revoke, in whole or in part, an assignment of powers and duties made under subsection (3) and the Executive Director may revoke, in whole or in part, an assignment of powers and duties made under subsection (4). The document or public oral statement containing the forward-looking information contained, proximate to that information. not be provided by the person or company to another person or company, or. FormS 20, 21 Revoked:  O. Reg. 2010, c. 26, Sched. (3) Every recognized exchange and recognized self-regulatory organization shall select a panel of auditing firms for their members. 22 (1), 47 (2). 18, s. 5. R.S.O. For Credentialing Bodies: An additional questionnaire is included in the attached Appendix. 1015, s. 1 (5). 20, s. 7. 26, s. 1.

1015, s. 158; O. Reg. 39, s. 4 (1-6). A person or company that engages in or holds himself, herself or itself out as engaging in the business of providing advice, either directly or through publications or other media, with respect to investing in or buying or selling securities, including any class of securities and the securities of a class of issuers, that are not purported to be tailored to the needs of anyone receiving the advice. 28, s. 14; 2015, c. 38, Sched. 1999, c. 9, s. 216. iii. xviii.

1990, c. S.5, s. 134 (1); 2015, c. 20, Sched. 37, s. 10. 5. Reopening Ontario (A Flexible Response to COVID-19) Act, 2020, S.O. (3) The regulations may prescribe circumstances in which a person or company is deemed to be purchasing a security as principal for the purposes of an exemption under this section. 3. (2) The Commission shall publish in its Bulletin notice of the proposed adoption of a policy. Creating a central database of financial planners. R.S.O. (6) The registrant shall deliver to the Commission such other information as the Commission may require in such form as it may require. iv. 10. 26, s. 9. (b) a person responsible for the enforcement of the criminal law of Canada or of any other country or jurisdiction. (j) a designated credit rating organization. ii. (b) any request to execute or not to execute a form of proxy or to revoke a proxy.
A disciplinary process and mechanism for revoking the credential when warranted.

1997, c. 10, s. 37. (1) A report prepared in accordance with Form 55-102 F6 (made under National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI)) that is filed with the Commission may contain the facsimile signature of the individual, officer, director, agent or attorney required to sign the form, if an original manually signed copy is filed concurrently with a securities commission in Canada designated by the Commission for the purpose of accepting such filings. Regulating the listing or trading of publicly traded securities or the trading of derivatives, including rules. Revoked:  O. Reg. 2014, c. 7, Sched.

(4) No order shall be made under this section without a hearing, subject to section 4 of the Statutory Powers Procedure Act. 7. Commission guidelines re engaged in a business. 2010, c. 26, Sched. (7) For the purpose of this section, except subsection (1.3), a dealer shall not be considered to be acting as agent of the purchaser unless the dealer is acting solely as agent of the purchaser with respect to the purchase and sale in question and has not received and has no agreement to receive compensation from or on behalf of the vendor with respect to the purchase and sale. (4) If the laws of a reporting issuer’s jurisdiction of incorporation, organization or continuance impose requirements corresponding to the requirements in subsections (1) and (2), compliance with the requirements imposed by that jurisdiction shall be deemed to be compliance with the requirements in subsections (1) and (2). (2) Without limiting the generality of subsection (1), the regulations may prescribe reporting requirements that apply in connection with an exemption authorized by that subsection. (See:  O. Reg. “associate”, where used to indicate a relationship with any person or company, means. If you have a standard of conduct, please provide a copy. (3) The members and employees of the Commission shall give the person designated by the Minister all the assistance and co-operation necessary to enable him or her to complete the examination.

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