Topical Guide for Registrants

See Reporting to clients

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

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, page 21

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

Companion Policy 45-106CP Prospectus Exemptions, section 4.6.1

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

Companion Policy 91-102 Prohibition of Binary Options

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 debt

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations section 12.2

Related party receivables

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-25

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39-40

Subordinated debt and subordination agreements

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations section 12.2

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

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, page 5

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2.1

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

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 12 - 13

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

Guidance on Client Relationship Model's (CRM2) substantive rules

See Relationship Disclosure Information (RDI) and Reporting to clients

Designation of Additional Commodities

OSC Rule 14-502 (Commodity Futures Act) Designation of Additional Commodities, page 1

Companion Policy 14-502CP (Commodity Futures Act) Designation of Additional Commodities, page 2-3

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

CSA Staff Notice 33-318 Review of Practices Firms Use to Compensate and Provide Incentives to their Representatives

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 42

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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers pages 56-57, 60

General guidance, including documenting and responding to complaints

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28-29

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, sections 13.14 - 13.15

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

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

Non-significant deficiencies

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27-28

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

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39-41, pages 51-52, page 60

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 42 - 43, pages 62 - 63, pages 70 - 71

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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 59

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

Significant deficiencies

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, page 37

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

Automated compliance system

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 41-43

Business continuity plan (BCP)

Compliance and Registrant Regulation Branch e-mail blast January 25, 2024 - Business Continuity Planning

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 17

CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 42-43

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 34

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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-27

Cyber security

See Cyber security

Fees and commissions - Excessive fees

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 44-45

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

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 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 21

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

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 38-39

Internal controls and policies and procedures - portfolio management and trading practices

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 63 - 70

Outside business activities - policies, procedures and supervision

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.4

Oversight of third party service providers (outsourcing) - all registrants

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, part 11

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-27

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

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

Risk management at registered firms

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 25-26

Supervision - dealing representatives who speak multiple languages

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30 - 31

Supervision - general guidance

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 3.4, section 11.1

Supervision of advising representatives, associate advising representatives and research analysts by portfolio managers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 4.2

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 49-51

Supervision of dealing representatives by exempt market dealers

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 42-43

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-47

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)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 5

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

Whistleblowers

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 35-36

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-47

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 affiliated dealer

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 63-66

CSA Staff Notice 33-318 Review of Practices Firms Use to Compensate and Provide Incentives to their Representatives

Compensation practices

Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, page 4-7, page 9

CSA Staff Notice 33-318 Review of Practices Firms Use to Compensate and Provide Incentives to their Representatives

Conflicts arising from fees charged to clients

Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, pages 8-9

Conflicts arising from trades alongside clients

Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, pages 12-13

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

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 29-30

Financial conflicts of interest

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 39

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

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 43

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-46

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

See 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

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

Summary of Key Capital Raising Prospectus Exemptions in Ontario, page 5

Exempt Market Review - Backgrounder, page 3

Companion Policy 45-108CP Crowdfunding, pages 4-7

Crowdfunding under MI 45-108 - resale of securities distributed under the crowdfunding prospectus exemption

Companion Policy 45-108CP Crowdfunding, page 13

Form 45-106F1 Report of exempt distribution

See Prospectus exemptions ➜ Reports of exempt distributions

Funding portals - access to funding portal

Companion Policy 45-108CP Crowdfunding, page 9

Funding portals - advertising and general solicitation

Companion Policy 45-108CP Crowdfunding, pages 8-9

Funding portals - denial of issuer access and termination

Companion Policy 45-108CP Crowdfunding, page 10

Funding portals - issuer access agreement

Companion Policy 45-108CP Crowdfunding, page 9

Funding portals - monitoring purchaser communications

Companion Policy 45-108CP Crowdfunding, page 11

Funding portals - obligation to review materials of eligible crowdfunding issuer

Companion Policy 45-108CP Crowdfunding, pages 9-10

Funding portals - Online platform acknowledgement

Companion Policy 45-108CP Crowdfunding, page 11

Funding portals - purchaser requirements prior to purchase

Companion Policy 45-108CP Crowdfunding, page 11

Funding portals - registered dealer

Companion Policy 45-108CP Crowdfunding, page 8

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-34

Funding portals - registration requirements

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 56

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-18

Companion Policy 45-108CP Crowdfunding, pages 7-12

Funding portals - restricted dealer

Companion Policy 45-108CP Crowdfunding, page 7

Funding portals - restricted dealing activities - payments by issuers

Companion Policy 45-108CP Crowdfunding, page 8

Funding portals - restricted dealing activities - related and connected issuers

Companion Policy 45-108CP Crowdfunding, page 8

Restricted dealer funding portal - chief compliance officer

Companion Policy 45-108CP Crowdfunding, page 13

Restricted dealer funding portal - permitted dealing activities

Companion Policy 45-108CP Crowdfunding, page 12

Restricted dealer funding portal - proficiency of individuals

Companion Policy 45-108CP Crowdfunding, page 13

Restricted dealer funding portal - prohibition on providing recommendations or advice

Companion Policy 45-108CP Crowdfunding, pages 11 - 12

Restricted dealer funding portal - restriction on lending

Companion Policy 45-108CP Crowdfunding, page 12

Compliance and supervision structure

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-27

Conflicts of interest

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 54

Crypto Asset Investment Funds

Proposed Amendments to National Instrument 81-102 Investment Funds Pertaining to Crypto Assets

Launchpad email blast dated December 5, 2017, Form 33-109F6 requirement for registered firms that establish, manage, advise and/or trade in securities of cryptocurrency investment funds

Custody of crypto assets

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 30-32

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, page 23-25

Insurance coverage limits and requirements

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 30

Marketing

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 52-54

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33

CSA Staff Notice 21-330 Guidance for Crypto-Trading Platforms: Requirements relating to Advertising, Marketing and Social Media Use

Requirement to register

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 49-52

CSA Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings Changes to Enhance Canadian Investor Protection

CSA Staff Notice 21-329 Guidance for Crypto-Asset Trading Platforms: Compliance with Regulatory Requirements

CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets

CSA Staff Notice 46-308 Securities Law Implications for Offerings of Tokens, pages 1-8

CSA Staff Notice 46-107 Cryptocurrency Offerings

News release: OSC working to ensure crypto asset trading platforms comply with securities law

News release: Canadian Securities Regulators strengthen oversight, enhance expectations or crypto asset trading platforms operating in Canada

Restricted dealer registration

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 56

News release: CSA and CIRO expect crypto trading platforms to prioritize applications for investment dealer registration and CIRO membership

Value-Referenced Crypto Assets

CSA Staff Notice 21-333 Crypto Asset Trading Platforms: Terms and Conditions for Trading Value Referenced Crypto Assets with Clients

News release: Canadian Securities Regulators clarify interim approach to value-referenced crypto assets

Canadian securities regulators provide update on interim approach to value-referenced crypto assets

News release: CSA provides update to crypto asset trading platforms about value-referenced crypto assets

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

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 58-59

Cash and securities held by a qualified custodian

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.5.3

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39-40

Client and investment fund assets held by a registered firm in trust

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.6

Custodial arrangements

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 31

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.5.2

Disclosure of where and the manner in which client’s assets are held or accessed

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2

General prudent custodial practices

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.5.2

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

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 38-40

Prohibition on self-custody and the use of a custodian that is not functionally independent

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.5.2, section 14.6.1

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 24

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

Restriction on self-custody and qualified custodian requirement

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.5.2

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 24

Short sales

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.6.2

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

See Institutional trade-matching and settlement

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

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

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.1

Applications for exemptive relief

OSC Staff Notice 33-747 2016 Annual 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 45 - 47

Dealer registration relief in connection with leveraged employee share offering

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 49-50

Responsibility to ensure compliance with terms and conditions

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 36, pages 63-64

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

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

Compliance and Registrant Regulation Branch e-mail blast February 11, 2014,Requirement to deliver documents electronically to the Ontario Securities Commission (effective February 19, 2014)

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 48

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

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 14-15, page 52

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 4-5, pages 7-8

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

CSA Staff Notice 46-309 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

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 29

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

See Crowdfunding under MI 45-108

Funding portals

See Crowdfunding under MI 45-108

Improper use of firm's registration, including "renting out"

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43-45

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 53 - 55

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

Online portals

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 60

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

Coordinated Blanket Order 31-930 Exemption to allow Exempt Market Dealer Participation in Selling Groups in Offerings of Securities under a Prospectus

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 62-63

Related or connected issuers - inappropriate use by exempt market dealers of investor monies raised through related or connected issuers

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 55

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 57-58

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

Advising generally (not tailored to a recipient)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.25

Certain exemptions for registered sub-advisers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.5

Cross-border trades (jitneys)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.5

Dealer registration relief in connection with leveraged employee share offering

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 49-50

Distributions outside Canada

Companion Policy 72-503 Distributions Outside Canada

IIROC members with discretionary authority

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.24

Incidental advice on Canadian securities

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.26

International adviser

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 21-23

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.26

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

International sub-adviser

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.26.1

Investment fund trades by adviser to managed account

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.6

Plan administrators

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.5

Self-directed registered education savings plan (RESP)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.19

Short-term debt

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.22.1

Trades through a registered dealer by a registered adviser

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.5.1

Trades through or to a registered dealer

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.5

When not available to a registrant

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 8 preamble

Certain exemptions for registered sub-advisers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.17

Exemptions available to IIROC and MFDA members and their dealing representatives

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations , section 3.16, section 9.3-9.4, section 8.24

Activity fees (exemptive relief applications, registration filings, etc.)

Amendment of OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45 - 47, pages 48 - 49

Companion Policy 13-502CP Fees, section 2.5, 6.2

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 2.5

General guidance on fees

Amendment of OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees

Notice of Amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees

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, page 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 17, sections 33-36

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 3.3, sections 5.1-5.3

Participation fees - application of certain fee rules to public investment funds that have investment fund managers

Companion Policy 13-502CP Fees, section 10

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

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 47-49

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 40-44, 63-64

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 9

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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 40-44

Participation fees - Late fees and other consequences of late filing of Capital Markets Participation Fee Calculation Form 13-502F4

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

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 3.3

Participation fees - Registrants under both the Securities Act and the Commodity Futures Act

Companion Policy 13-502CP Fees, section 4, section 19

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 2.6

Participation fees - unregistered capital markets participants

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 22-23

Amendment of OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees, page 3

Participation fees - who is required to pay

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 22-23

Companion Policy 13-502CP Fees, section 3

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 2.2

Amendment of OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees, page 3

Permitted individuals

Companion Policy 13-502CP Fees, section 31

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 4.1

Refunds generally not entitled

Companion Policy 13-502CP Fees, section 8

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 2.7

Wire transfer payments for EFT exempt firms

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28

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 IFR

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

Companion Policy 52-107CP Acceptable Accounting Principles and Auditing Standards, section 2.7

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

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27 - 28

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

Exemption from registration - U.S. broker-dealers

See Registration - Firms ➜ Exemptions from the requirement to register - foreign dealers and advisers

Exemptions from registration - Commodity Futures Act (Ontario) - foreign dealers

See Registration - Firms ➜ Commodity Futures Act (Ontario)

Time-limited relief granted to foreign broker-dealer to provide outsourced trading service to Canadian asset managers

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 42

See Over-the-counter (OTC) derivatives ➜ Contracts for difference (CFDs), foreign exchange contracts and similar OTC derivatives offered in Ontario

See Capital requirements and working capital calculations

See Registration - Firms and Registration - Individuals

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

Coverage limits and requirements

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 32

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 45

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 21

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, part 12, division 2

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 44 - 46

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 37-38

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 73

Insurance requirements for advisers that hold or have access to client assets

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 12.4

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 dealers - exemption from the registration requirement (Commodity Futures Act (Ontario))

See Registration - Firms ➜ Exemptions from the requirement to register - Commodity Futures Act (Ontario) - dealers

International investment fund managers - registration requirements and exemptions

See Registration - Firms ➜ Investment fund managers - non-resident investment fund managers

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

OSC Staff Notice 52-723 Office of the Chief Accountant Financial Reporting Bulletin

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.

Borrowing and cash management (mutual funds)

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 5793

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)

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 77

Consultants to investment funds - registration as adviser

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

Definition of “investment fund”

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

Disclaimers of liability for third party information in prospectuses

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

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)

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

Fees and commissions - Disclosure of management fees - fees payable directly by securityholders

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

Fees and commissions - Disclosure of trailing commissions paid to discount brokers

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

Fees and commissions - discount fee arrangements

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 72-73

Fees and commissions - Excessive fees

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 44-45

Fees and commissions - Fixed administration fees with adjustment payments

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

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

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 65-66

Forward purchase agreements (pre-paid forwards)

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

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

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

General guidance - investment fund managers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 7.3

Independent Review Committee (IRC)

CSA Multilateral Staff Notice 81-337 Targeted Continuous Disclosure Review and Guidance for Independent Review Committees for Investment Funds

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

Investment fund managers

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers

Liquidity (mutual fund portfolio assets)

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 75 - 76

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

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, page 34

Mortgage investment entities and investment funds

See Mortgage investment entities (MIEs)

Net asset value (NAV) errors and adjustments, including responsibility for NAV, NAV errors and NAV error correction

OSC Staff Notice 33-752 2021 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 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

See Offering memoranda

Organizational structure of an investment fund manager

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers

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

Portfolio manager considerations

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers

Prohibited inter-fund trades

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 38

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 61-62

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 fund

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 60-61

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

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 61

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

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 39

Side letters

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 31-32

Valuation of securities held in investment funds

OSC Staff Notice 33-750 Compliance and Registrant Regulation - 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, page 71

Yield/income funds - regular distributions in excess of earnings

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

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

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 63-66

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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 31-32

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

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 - 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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers

KYC and suitability - insider status of clients

See Portfolio managers ➜ Insider status of clients and insider trading rules

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 registrant proficiency

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 409-410

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

Vulnerable investors

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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27-28

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

Advisor ranking contests or lists

Compliance and Registrant Regulation Branch e-mail blast July 13, 2023 - Advisor Ranking Contests/Lists

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28-30

Benchmarks

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 22

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 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 23

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, page 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

GIPS compliance

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 26-27

Hypothetical performance data

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 66

CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, pages 7439-7440

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 34-35

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 31-32

Improper marketing of Canadian Investor Protection Fund coverage

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 56-57

Improper marketing of registration

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 56-57

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33

Misleading titles

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 23-24

Names and titles - using titles that imply registration; inappropriate use of business or trade names

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-25

CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, pages 7443-7444

Performance composites

CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, pages 7442-7443

Performance returns from a previous firm, and from proprietary firm and individual portfolio manager accounts

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 23-24

CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, pages 7444-7445

Policies, procedures and internal controls

CSA Staff Notice 31-325 Marketing Practices of Portfolio Managers, page 7441

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 36

Sales communications by publicly offered investment funds

See Investment funds and investment fund managers ➜ Sales communications by publicly offered investment funds

Testimonials

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 34-35

Use of another registrant's name

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33

Use of social media

Compliance and Registrant Regulation Branch e-mail blast July 13, 2023 - Advisor Ranking Contests/Lists

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

OSC Staff Notice 81-722 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

Companion Policy 45-501CP Ontario Prospectus and Registration Exemptions, sections 5.1 - 5.7

Investment funds offered by offering memorandum, disclosure in

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 56-57

Offering memorandum prospectus exemption

See Prospectus exemptions ➜ OM exemption

Right of action for damages and right of rescission in

Companion Policy 45-501CP Ontario Prospectus and Registration Exemptions, section 5.3

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 56-57

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 45-47

See Complaint handling ➜ Dispute resolution service

"Online" delivery platforms: new business models

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

Crowdfunding under MI 45-108

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 17-18

See Crowdfunding under MI 45-108

Intermediaries in the exempt market

Exempt Market Review - Backgrounder, pages 3-4

Internet platforms and other unregistered entities engaged in registrable activities

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-27

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

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 29-31

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

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 14

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 64-65

See OSC LaunchPad website

See Cryptocurrency Offerings

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

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, page 21

OSC Staff Notice 91-702 Offerings of Contracts for Difference and Foreign Exchange Contracts to Investors in Ontario

Definition of derivatives for purpose of derivative data reporting OSC Rule 91-507

Companion Policy 91-506CP Derivatives: Product Determination

Derivatives business conduct rules

CSA Staff Notice 93-302 Frequently Asked Questions about National Instrument 93-101 Business Conduct

Companion Policy 93-101CP Derivatives: Business Conduct

Ontario Securities Commission - Coordinated Blanket Order 93-930

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

Amendments to OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting; Changes to OSC Companion Policy 91-507CP; Changes to OSC Companion Policy 91-506CP; Related Consequential Amendments and Changes

OSC Coordinated Blanket Order 96-932 Temporary Exemptions from Certain Derivatives Data Reporting Requirements

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 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 86-87

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

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30-31

Determining whether an investor is a permitted client

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.2

Relationship Disclosure Information (RDI) and permitted clients

See Relationship disclosure information (RDI) ➜ Permitted clients and relationship disclosure

Definition of permitted individual

See Registration - Individuals ➜ Permitted individuals

Conflicts arising from trades alongside clients

See Conflicts of Interest ➜ Conflicts arising from trades alongside clients

Policies and procedures on personal trading

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 42

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 46-48

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55 - 77

General guidance

CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations

See Compliance system of registered firm ➜ Internal controls and policies and procedures

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

Account statement delivery obligations and use of consolidated account statements

See Reporting to clients ➜ Portfolio managers - account statement delivery obligations and use of consolidated account statements

Advising clients in other jurisdictions without appropriate registration or exemption from registration

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55-56

Advising in respect of recognized options, proficiency

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 54-55

Best execution obligations

See Best execution obligations

Delegation of KYC & suitability obligations by portfolio managers to referral agents

See Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ Delegation of KYC & suitability obligations by portfolio managers to referral agents

Inadequate number of advising representatives and associate advising representatives

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 52-54

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35-38

Inappropriate access to client's custody accounts

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 58-59

Insider status of clients and insider trading rules

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 67 - 68

Institutional trade matching and settlement requirements

See Institutional trade matching and settlement

Investment allocation (fairness policy)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.10

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 61-63

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 57 - 58

KYC and suitability information updates for managed account clients

See Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ KYC and suitability - general guidance

KYC in Investment Policy Statements (IPSs) and Investment Management Agreements (IMAs)

See Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ Portfolio managers and KYC in Investment Policy Statements (IPSs) and Investment Management Agreements (IMAs)

Limitation of liability clauses

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 37-38

Managed accounts - accredited investor exemption and investment fund securities

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 11 - 12, page 76

Managed accounts - exemptive relief from prospectus requirements for non-accredited investors who are "secondary clients"

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch,

On-line advisory services

See On-line advising or dealing services ➜ On-line advisory services by portfolio managers

Personal trading

See Personal trading

Policies and procedures - portfolio management and trading practices

See Compliance system of registered firm ➜ Internal controls and policies and procedures - portfolio management and trading practices

Prohibited investments

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 37

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-26

Service arrangements with affiliated dealer

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 63-66

Service arrangements with IIROC dealer members

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

Supervision of advising representatives, associate advising representatives and research analysts

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 52-54

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 44

See Compliance system of registered firm ➜ Supervision of advising representatives, associate advising representatives and research analysts by portfolio managers

Trade matching and settlement

See Institutional trade matching and settlement

Trades between client accounts and inter-fund trades (prohibited cross trades)

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 38

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 61-62

See also Investment funds and investment fund managers ➜ Prohibited investments for investment funds

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 73-74

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.5

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 5794

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 40-42

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55 - 58

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

Use of client brokerage commissions (formerly, "soft dollars")

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 42-43

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55 - 57

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 prohibited managed account and inter-fund transactions (cross trades), see Portfolio Managers ➜ Trades between client accounts and inter-fund trades (prohibited cross trades)

For prohibited investments for investment funds, see Investment funds and investment fund managers ➜ Prohibited investments for investment funds

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

Accredited investor exemption

Summary of Key Capital Raising Prospectus Exemptions in Ontario, page 4

Companion Policy 45-106CP Prospectus Exemptions, section 3.5

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 11 - 12, pages 68 - 69

See also Exempt market dealers (EMDs) ➜ Accredited investor exemption and sale of exempt securities to non-accredited investors

Asset acquisition exemption

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28-29

Crowdfunding under MI 45-108

See Crowdfunding under MI 45-108

Determining when exemption is available - responsibility and compliance

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 36

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 50-55

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 46-47

Companion Policy 45-106CP Prospectus Exemptions, section 1.9

Companion Policy 45-501CP Ontario Prospectus and Registration Exemptions, section 3.3

Distributions outside Canada

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36-37

Companion Policy 72-503 Distributions Outside Canada

Existing security holder exemption

Summary of Key Capital Raising Prospectus Exemptions in Ontario, page 6

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 11

Family, friends and business associates exemption

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 50-55

Summary of Key Capital Raising Prospectus Exemptions in Ontario, page 7

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 11

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28-29

General guidance

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 48-50

Summary of Key Capital Raising Prospectus Exemptions in Ontario, pages 1 - 3

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 11

Companion Policy 45-106CP Prospectus Exemptions

Local exemptions (available in Ontario only)

CSA Staff Notice 45-304 (Revised) - Notice of Local Exemptions Related to NI 45-106 Prospectus Exemptions and NI 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, page 1, page 7-8

Minimum amount investment exemption

Summary of Key Capital Raising Prospectus Exemptions in Ontario, page 8

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 11

Companion Policy 45-106CP Prospectus Exemptions, section 3.9

Not-for profit organizations distributing securities

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28-30

Offering memorandum - guidance on use of OM in connection with distributions in reliance on certain prospectus exemptions

See Offering memoranda ➜ Guidance on use of offering memoranda in connection with distributions in reliance on certain prospectus exemptions

OM exemption

CSA Notice of Amendments to National Instrument 45-106 Prospectus Exemptions and Changes to Companion Policy 45-106CP Prospectus Exemptions Relating to the Offering Memorandum Prospectus Exemption

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 36

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 51-52

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 50-55

Summary of Key Capital Raising Prospectus Exemptions in Ontario, page 9

Exempt Market Review - Backgrounder, page 2

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28-29

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 38

Private issuer exemption

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 38

Companion Policy 45-106CP Prospectus Exemptions, section 3.6

Reinvestment plans

Companion Policy 45-106CP Prospectus Exemptions, section 3.4.1

Reports of exempt distributions

CSA Staff Notice 45-325 Filing Requirement and Fee Payable for Exempt Distributions involving Fully Managed Accounts

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

OSC Staff Notice 51-728 Corporate Finance Branch 2016-2017 Annual Report, page 32

OSC Staff Notice 33-735 Sale of Exempt Securities to Non-Accredited Investors, page 5424

Companion Policy 45-106CP Prospectus Exemptions, section 5.1

Companion Policy 45-501CP Ontario Prospectus and Registration Exemptions, section 6

CSA Staff Notice 45-308 (Revised) Guidance for Preparing and Filing Reports of Exempt Distribution under National Instrument 45-106 Prospectus Exemptions

Exempt Market Review - Backgrounder, page 4-5

Resale restrictions on exempt securities

Companion Policy 45-106CP Prospectus Exemptions, section 6.1

Companion Policy 45-501CP Ontario Prospectus and Registration Exemptions, section 7.1

See Crowdfunding under MI 45-108 ➜ resale of securities distributed under the crowdfunding prospectus exemption

Review of prospectus exemptions and consideration of new prospectus exemptions

Notice of General Order Ontario Instrument 45-507 Self-Certified Investor Prospectus Exemption (Interim Class Order)

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 10 - 13

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 10

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 10 - 11

Rights offering exemption

CSA Staff Notice 45-323 (Revised) Update on Use of the Rights Offering Exemption in National Instrument 45-106 Prospectus Exemptions

Multilateral CSA Staff Notice 45-322 Potential Concerns with the Stucture of Rights Offerings

OSC Staff Notice 51-727 Corporate Finance Branch - 2015-2016 Annual Report

Exempt Market Review - Backgrounder, page 4

Summary of Key Capital Raising Prospectus Exemptions in Ontario, page 11

Self-certified investor exemption

Ontario Instrument 45-507 Self-Certified Investor Prospectus Exemption (Interim Class Order)

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 65

OSC Rule 45-508 Extension to Ontario Instrument 45-507 Self-Certified Investor Prospectus Exemption

Soliciting and advertising to purchasers

See Crowdfunding under MI 45-108 ➜ Funding portals - advertising and general solicitation

Companion Policy 45-106CP Prospectus Exemptions, section 3.1 - section 3.3.1

Companion Policy 45-501CP Ontario Prospectus and Registration Exemptions, section 3.6

Syndications (persons created solely to use exemptions)

Companion Policy 45-106CP Prospectus Exemptions, section 1.8

Underwriters - availability of prospectus exemptions generally

Companion Policy 45-106CP Prospectus Exemptions, section 1.7

Companion Policy 45-501CP Ontario Prospectus and Registration Exemptions, section 3.5

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 69-70

CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 41 - 42

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations,section 11.5, section 11.6

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 42-43

Conflicts of interest record keeping obligations

Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, pages 17-18

Investment fund manager appointment

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 24

Conflicts related to referral arrangements

Joint CSA/CIRO Staff Notice 31-363 Client Focused Reforms: Review of Registrants' Conflicts of Interest Practices and Additional Guidance, pages 10-12

Delegation of KYC and suitability obligations under referral arrangements

See Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ Delegation of KYC & suitability obligations, general guidance and Delegation of KYC & suitability obligations by portfolio managers to referral agents

Disclosure to clients, including disclosure of referral fees

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, page 13

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.10, section 14.17

General guidance

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 40 - 42

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.7 - 13.9

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 61 - 63

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 29-30

Referral agreements

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 13.8

Criminal charges

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 81

CSA Disciplined List

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 81

General guidance

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 76-78

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 69-73

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 79 - 81

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 17-18

OSC Staff Notice 34-701 Publication of Decisions of the Director on Registration Matters under Part XI of the Securities Act (Ontario) ("Opportunities to be Heard")

Opportunities to be heard (OTBHs) - Director's Decisions on contested and settled OTBHs, by topic and year

See Director's Decisions on OSC website

Opportunities to be heard and settlement agreements - guidance

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 76-78

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 69-73

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 79 - 80

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 17-19

OSC Staff Notice 34-701 Publication of Decisions of the Director on Registration Matters under Part XI of the Securities Act (Ontario) ("Opportunities to be Heard")

Procedures for Opportunities to be Heard Before Director’s Decisions on Registration Matters made under the Statutory Powers Procedures Act

Terms and conditions on, suspension of or termination of registration

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 82

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 17-19

OSC Staff Notice 34-701 Publication of Decisions of the Director on Registration Matters under Part XI of the Securities Act (Ontario) ("Opportunities to be Heard"),

Terms and conditions, close supervision and strict supervision

CSA Staff Notice 31-349 Change to Standard Form Reports for Close Supervision and Strict Supervision Terms and Conditions

Registrant Advisory Committee (RAC)

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 17

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 13

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 20 - 21

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 14

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 19 - 20

Registrant outreach program

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 12-13

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 11-12

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers page 19-20, page 21

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 13

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 18 - 19

Applying for registration - process for applying

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-17

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27 - 28

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, page 11

Companion Policy 33-109CP Registration Information, section 3.1

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 23 - 25, pages 26 - 27

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 49-52

Applying for registration - unclear or evolving business model

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28

Business locations of firms

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 16

Companion Policy 33-109CP Registration Information, section 3.3

Business trigger for trading and advising

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.3

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 43

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-25, pages 61-62

Categories of registration and the entities that are required to register in those categories

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, CP Part 7

Changes to registration information of firms

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-35

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 28 - 29

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 26

Companion Policy 33-109CP Registration Information, section 1.4, section 3.2, Appendix A

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, page 41

Commodity Futures Act (Ontario)

Companion Policy 33-109CP Registration Information, section 5.1

OSC Staff Notice 35-704 (Commodity Futures Act) Non-Resident Advisers

Contracts for difference (CFDs) - dealer and adviser registration requirements

See Over-the-counter (OTC) derivatives ➜ Contracts for difference (CFDs), foreign exchange contracts and similar OTC derivatives offered in Ontario

Cryptocurrency Offerings

See Crypto-Asset Offerings

Dual Registered Firms

CSA Dual Registered Firm Guide

Compliance and Registrant Regulation Branch e-mail blast August 17, 2023 - National Registration Database - Updated external guide for dual registered firms

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 59-60

Exemptions - client mobility exemptions

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55-56

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 8.30

Exemptions - Local registration exemptions (available in Ontario only)

CSA Staff Notice 45-304 (Revised) - Notice of Local Exemptions Related to NI 45-106 Prospectus Exemptions and NI 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations page 1, page 7-8

Exemptions - when not available to a registrant

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 8 preamble

Exemptions for bulk transfers of locations and individuals (reorganization or combination of firms)

Companion Policy 33-109CP Registration Information, section 3.4, Appendix D

Exemptions from the requirement to register - advisers

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 26

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 21-23

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 8, section 8.24 - 8.26, Section 8.26.1

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, page 40

Exemptions from the requirement to register - Commodity Futures Act (Ontario) - dealers

OSC Staff Notice 33-744 Availability of registration exemptions to foreign dealers in connection with trades in options and futures contracts under the Commodity Futures Act (Ontario), pages 1-4

Exemptions from the requirement to register - dealers and underwriters

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, Part 8, section 8.5, section 8.5.1, section 8.6, section 8.18 section 8.19, section 8.22.1

Ontario Instrument 32-508 Not-for-Profit Angel Investor Group Registration Exemption (Interim Class Order)

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 64

Exemptions from the requirement to register - foreign dealers and advisers

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 27

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 96-97

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

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 14 -15

Companion Policy 35-101CP Conditional Exemption from Registration for United States Broker-Dealers and Agents

OSC Staff Notice 32-505 Conditional Exemption from Registration for United States Broker-Dealers and Advisers Servicing U.S. Clients from Ontario, Pages 1-2

OSC Companion Policy 32-505CP Conditional Exemption from Registration for United States Broker-Dealers and Advisers Servicing U.S. Clients from Ontario

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-34

Exemptions from the requirement to register - general guidance

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32-33

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 29

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, CP Part 8

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 27, page 62

Fitness/suitability for registration

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 16

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.3

Companion Policy 33-109CP Registration Information, section 1.1, section 2.7

Companion Policy 13-502CP Fees, section 7.2

Companion Policy 13-503CP (Commodity Futures Act) Fees, section 5.2

Foreign firms - identifying the principal regulator

Companion Policy 33-109CP Registration Information, section 3.1

Form 33-109F3 Business Locations other than Head Office

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 16

Companion Policy 33-109CP Registration Information, section 3.3

NRD Information User Guide

Form 33-109F5 Change of Registration Information

See also Registration - Firms ➜ Changes to registration information of firms

Companion Policy 33-109CP Registration Information, section 3.2

Companion Policy 13-502CP Fees, sections 7.1, 7.3

Form 33-109F6 Firm Registration

Companion Policy 33-109CP Registration Information, section 3.1

Form 33-506F5 Change of Registration Information (Commodity Futures Act)

Companion Policy 13-503CP (Commodity Futures Act) Fees, sections 5.1, 5.3

Forms, quick link to

See OSC website, Information for Dealers, Advisers and Investment Fund Managers, Forms and Documents page

Funding portals

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-19

See Crowdfunding under MI 45-108

Investment fund managers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.3, section 7.3

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 73 - 74

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27-29

Investment fund managers - fund complexes or groups with more than one investment fund manager

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 23-24

Investment fund managers - non-resident investment fund managers

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 21-23

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-26

Companion Policy 32-102CP Registration Exemptions for Non-Resident Investment Fund Managers, Appendix A

Lending firms

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 40-41

Mortgage investment entities (MIEs)

See Mortgage investment entities (MIEs) ➜ Registration obligations - investment fund manager, adviser, dealer

Non-resident advisers to non-resident investment funds

OSC Staff Notice 35-704 (Commodity Futures Act) Non-Resident Advisers

Not-for-profit issuers

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 27

Not-for-profit organizations distributing securities

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28-30

Notice pursuant to section 11.9 or 11.10 of NI 31-103

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 46-47

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30-31

Novel business activities

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 14-17

See OSC LaunchPad website

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-19

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 19-22

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-27

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28, pages 63 - 68

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43-44

On-line services

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-19

For on-line services and the requirement to register, see On-line advising or dealing services

Peer-to-peer lending websites

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-19

See On-line advising or dealing services ➜ Peer-to-peer lending websites

Registration as the first compliance review (pre-registration reviews)

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-26

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 23 - 25

OSC Staff Notice 33-754 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 29-33

Restricted dealers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 7.1

Securities issuers

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, page 26

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 27

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.3

Split share companies and requirement to have registered portfolio manager

See Split share companies ➜ Portfolio manager requirement

Suspension, revocation or surrender of registration

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 11-12

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-28

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26 - 27

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, CP Part 10

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 40-42

Terms and conditions on registration to address business model

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 19

Trading with or advising non-Ontario investors

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 25

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 21-22

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 21-22

Venture capital and private equity

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.3

Note to users: The Dealers, Advisers and Investment Funds Managers section of the OSC website also contains guidance on the registration process under the heading Getting Registered.

Applications for registration, common deficiencies in

OSC Staff Notice 33-750 Compliance and Registrant Regulation – Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24 - 25

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 23-30

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 16-17, pages 19-21, pages 25-28, pages 73-74

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-28

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, pages 12-15

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 44-46

Applications for registration, misrepresentations and related omissions in

CSA Staff Notice 33-320 The Requirement for True and Complete Applications for Registration

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 29-30

Applying for registration - delayed or no response to staff inquiries

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28

Applying for registration - risk based approach

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 21

Forms, quick link to

See OSC website , Information for Dealers, Advisers and Investment Fund Managers, Forms and Documents page

Fundamental concepts of registration requirement

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 20

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.3

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27-29

Late filings, fees for late filings

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 18

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 29 - 30

National Registration Database (NRD)

Companion Policy 33-109CP Registration Information, section 2.1

See also the NRD website, under "About" and "FAQ"

Opportunity to be heard (OTBH) - Upon staff recommendation to refuse to grant, renew, reinstate or amend registration or to impose terms and conditions on registration

See Registrant misconduct ➜ Opportunities to be heard (OTBHs) and settlement agreements

Pre-filing application process

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 43-44

Service commitment

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 19

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 26

Voluntary surrenders of registration

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 60

Adding, surrendering or changing categories

Companion Policy 33-109CP Registration Information, section 2.3

See also the NRD User Guide guidance on changing/surrendering individual categories

Additional jurisdiction/additional sponsoring firm (forms)

Companion Policy 33-109CP Registration Information, section 2.2

See also the NRD User Guide guidance on changing/surrendering individual categories

Applying for registration - process for applying

OSC Staff Notice 33-734 2010 Compliance and Registrant Regulation Branch Annual Report, page 11

Companion Policy 33-109CP Registration Information, section 2.2

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26 - 27

Applying for registration – new advisers and CCO applicants at small PM firms

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33 - 34

Business locations

Companion Policy 33-109CP Registration Information, section 2.6

Business trigger for trading and advising

See Registration - Firms ➜ Business trigger for trading and advising

Changes to registration information of individuals

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 32 - 33

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 27

Companion Policy 33-109CP Registration Information, section 1.4, section 2.4, section 4.2, Appendix A

Commodity Futures Act (Ontario)

See Registration - Firms ➜ Commodity Futures Act (Ontario)

Criminal charges

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 73-74

See Registrant misconduct ➜ Criminal charges

Exemption from the requirement to register - dealers and underwriters

Companion Policy 72-503 Distributions Outside Canada

Exemption from the requirement to register - foreign dealers and advisers

Companion Policy 72-503 Distributions Outside Canada

Exemptions - client mobility exemptions

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 55-56

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 2.2

Exemptions - when not available to a registrant

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 8 preamble

Fitness/suitability for registration

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 29 - 30

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 16

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 1.3

Companion Policy 33-109CP Registration Information, section 1.1, section 2.7

Form 33-109F1 Notice of Termination of Registered Individuals and Permitted Individuals

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-25

Companion Policy 33-109CP Registration Information, section 1.3, section 3.5

See also the NRD User Guide guidance on notice of termination and updating/correcting termination information

Form 33-109F2 Change or Surrender of Individual Categories

See Registration - Individuals ➜ Adding, surrendering or changing categories

Form 33-109F4 Registration of Individuals and Review of Permitted Individuals

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-25

See also Registration - Individuals ➜ Changes to registration information of individuals

See also Registration - Individuals ➜ Reactivation/reinstatement of registration

Companion Policy 33-109CP Registration Information, section 2.2

See also the NRD User Guide guidance on initial submissions

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35-36

Form 33-109F5 Change of Registration Information

See also Registration - Individuals ➜ Changes to registration information of individuals

Companion Policy 33-109CP Registration Information, section 2.4

Form 33-109F7 Reinstatement of Registered Individuals and Permitted Individuals

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 30 - 31

Companion Policy 33-109CP Registration Information, section 2.5

Forms, quick link to

See OSC website, Information for Dealers, Advisers and Investment Fund Managers, Forms and Documents page

Funding portals

See Crowdfunding under MI 45-108

Misleading titles

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 23-24

Permitted individuals

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27-28

Companion Policy 33-109CP Registration Information, section 1.2, section 2.2

Proficiency requirements - advising or associate advising representative, relevant investment management experience

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 3.3, section 3.11 and 3.12, section 4.2, Appendix C

CSA Staff Notice 31-332 Relevant Investment Management Experience for Advising Representatives and Associate Advising Representatives of Portfolio Managers

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 22

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33 - 34

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36-37

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 45

Proficiency requirements, advising in respect of recognized options

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 54-55

Proficiency requirements, applying for exemptive relief from

See also the NRD User Guide guidance, "How to Apply for an Exemption"

Proficiency requirements, general guidance

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 3 Division 1, Section 3.3, section 3.4, Appendix C

OSC Staff Notice 33-736 2011 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 26-28

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33 - 34

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 46-47

Reactivation/reinstatement of registration

See also Registration - Individuals ➜ Form 33-109F7 Reinstatement of Registered Individuals and Permitted Individuals

OSC Staff Notice 33-746 2015 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 31

Companion Policy 33-109CP Registration Information, section 2.2, section 2.5, section 4.2

Registerable activity

OSC Staff Notice 33-750 Compliance and Registrant Regulation - Summary Report for Dealers, Advisers and Investment Fund Managers, pages 27 - 28

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36-37

Registration of Client Relationship Managers

OSC Staff Notice 33-752 2021 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 12-13

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 35-36

Restrictions on registered individuals - acting for another registered firm (dual registration)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 4.1

Suspension or revocation of IIROC or MFDA approval

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, sections 6.2 - 6.3

Suspension, revocation, surrender or transfer of registration

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 6, section 6.1, section 6.6

Companion Policy 33-109CP Registration Information, section 2.5

Termination or cessation of registration

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 24

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 24-25

Companion Policy 33-109CP Registration Information, section 3.5, section 4.1

Terms and conditions, close supervision and strict supervision

CSA Staff Notice 31-349 Change to Standard Form Reports for Close Supervision and Strict Supervision Terms and Conditions

Trading with or advising non-Ontario investors

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 25-26, pages 55-56

See Registration - Firms ► Trading with or advising non-Ontario investors

See Registration - Firms ➜ Commodity Futures Act (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 Conflicts of interest ➜ Related parties, selling securities of

Also see Exempt market dealers (EMDs) ➜ Related or connected issuers - inappropriate use by exempt market dealers of investor monies raised through related or connected issuers

Client participation in the registrant-client relationship

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2

Disclosure of conflicts of interest

See Conflicts of interest, subtopics starting with Related or connected issuers

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)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2

CSA Staff Notice 31-334 CSA Review of Relationship Disclosure Practices, pages 7122

General guidance

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 64

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

OSC Staff Notice 33-746 2015 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 14.2

CSA Staff Notice 31-334 CSA Review of Relationship Disclosure Practices

Name of registrant used in registerable activities

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2

Order execution trading

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2

Permitted clients and relationship disclosure

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, pages 5-6

Pre-trade disclosure of charges

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, pages 6-7

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2.1

Risk disclosure information re risks to consider when making investment decisions

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 44

CSA Staff Notice 31-334 CSA Review of Relationship Disclosure Practices, pages 7124 - 7125

Risks of using borrowed money to invest

CSA Staff Notice 31-334 CSA Review of Relationship Disclosure Practices, page 7125

Scholarship plan dealers

See Scholarship plan dealers (SPDs) and scholarship plans and other education savings plan products ➜ Relationship Disclosure Information (RDI)

Suitability obligation, disclosure of

CSA Staff Notice 31-334 CSA Review of Relationship Disclosure Practices, page 7129

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

Account statements

OSC Staff Notice 33-751 Summary Report for Dealers, Advisers and Investment Fund Managers, page 45-46

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 64-65

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36-37

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Pages 8-9

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.14

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, pages 1-2

Additional statements

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 64-65

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36-37

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Pages 8-9

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.14.1

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, pages 1-2

Determining Market value

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Pages 7-8

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.11.1, section 14.19

Exempt market dealer requirements under CRM2

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Appendix F

General guidance

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 38-39

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, CP Part 14, Division 5

See also Client Relationship Model (CRM2) ➜ CRM2 rule implementation

Investment fund managers - security holder statement requirements for clients of investment fund managers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.15

Investment performance report - general guidance

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 64-65

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Page 13-14

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, sections 14.18, section 14.20

Investment performance report - use of benchmarks

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2, section 14.19

Outsourcing client reporting or securities valuation

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, Part 14 Division 5

See also 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

Portfolio managers - account statement delivery obligations and use of consolidated account statements

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 58

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 14 - 15

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 53-54

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 64-65

Position cost information for client securities

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Page 9-10

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.14.2

Compliance and Registrant Regulation Branch e-mail blast March 7, 2014, Planning tips for implementing the "CRM2" amendments to ``Registration Requirements, Exemptions and Ongoing Registrant Obligations, page 2

Report on charges and other compensation - disclosure of trailing commissions and other mutual fund related charges

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Page 12

Report on charges and other compensation - general guidance

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 64-65

CSA Staff Notice 31-347 Guidance for Portfolio Managers for Service Arrangements with IIROC Dealer Members

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Page 11-13

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.17, section 14.20, Appendix D

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, page 2

Report on charges and other compensation - Total cost reporting

OSC Staff Notice 33-755 Summary Report for Dealers, Advisers and Investment Fund Managers, pages 46-47

Scholarship plan dealers

See Scholarship plan dealers (SPDs) and scholarship plans and other education savings plan products ➜ Client reporting requirements

Security holder statements for orphaned accounts (accounts without a dealer of record)

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Page 11

Trade confirmations

OSC Staff Notice 33-751 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 36-37

CSA Staff Notice 31-345 Cost Disclosure, Performance Reporting and Client Statements – Frequently Asked Questions and Additional Guidance, Page 8

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.12

Risk assessment questionnaire (RAQ)

See Compliance Consultants ➜ Risk assessment questionnaire (RAQ)

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 ➜ Sales practices (mutual funds)

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 (CRM2)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.16, section 14.19

General guidance

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 44-46

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 59-60

Inadequate branch audits and supervision of dealing representatives

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 42-43

Marketing materials

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch,

Prospectus form

OSC Staff Notice 33-742 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 61

Relationship Disclosure Information (RDI)

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 14.2

OSC Staff Notice 33-738 2012 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 60-61

Undertaking re investment in equity securities and terms & conditions re principal protected note investment, plan eligibility rules and OBSI complaint resolution

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

Up-front commission structure

The Investment Funds Practitioner, publication of the Investment Funds and Structured Products Branch

See Ownership changes or acquisition of assets/securities of a registered firm

Know-your-client (KYC), know-your-product (KYP) and suitability requirements

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36 - 37, pages 48 - 51

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

CSA Staff Notice 31-354 Suggested Practices for Engaging with Older or Vulnerable Clients

OSC Staff Notice 33-749 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 36 - 37, pages 48 - 51

OSC Staff Notice 33-747 2016 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 41 - 42

Regulatory Framework and Resources to Enhance Protection of Older and Vulnerable Clients

White Label Materials - User Guide
1. Working respectfully with older and vulnerable clients
2. Identifying and responding to signs of financial exploitation
3. Identifying and responding to signs of diminished mental capacity
4. Trusted contact person (TCP)
4a. Form - You're my trusted contact person
5. Placing a temporary hold in instances of financial exploitation or diminished mental capacity
6. Additional resources

Compliance and Registrant Regulation Branch e-mail blast January 25, 2024 - Business Continuity Planning

OSC Staff Notice 33-748 2017 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 39-40

CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 33-34

OSC Staff Notice 33-756 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, pages 34-36

See Capital requirements and working capital calculations ➜ Subordinated debt and subordination agreements

See Compliance system of a registered firm ➜ Business continuity plan (BCP)

See Know-your-client (KYC), know-your-product (KYP) and suitability requirements ➜ Suitability of trades, advice and/or investments

See Compliance system of registered firm ➜ beginning with Supervision

OSC Staff Notice 33-745 2014 Annual Summary Report for Dealers, Advisers and Investment Fund Managers, page 28, pages 63-64

See Anti-money laundering (AML), terrorist financing and United Nations Act sanctions reporting requirements

See Reporting to clients ➜ Trade confirmations

See Relationship Disclosure Information (RDI) ➜ Name of registrant used in registrable activities and Marketing practices ➜ Names and titles - using titles that imply registration; inappropriate use of business or trade names

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 ➜ Trades between client accounts and inter-fund trades (prohibited cross trades)

Inadequate compliance systems and UDPs/CCOs not meeting their responsibilities

See Compliance system of registered firm ➜ Inadequate compliance systems and effective compliance systems - all registrants and Inadequate compliance systems and effective compliance systems - exempt market dealers; for general guidance on UDPs see Compliance system of registered firm, subtopic Ultimate Designated Person (UDP)

Conflicts of interest, including disclosure of

See Conflicts of interest ➜ Related parties, selling securities of

Permitted underwriting activities for EMDs

See Exempt market dealers (EMDs) ➜ Permitted activities for EMDs

Permitted underwriting activities for investment dealers

Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, section 7.1

Prospectus exemptions

See Prospectus Exemptions ➜ Underwriters - availability of prospectus exemptions generally

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 ➜ Valuation of securities held in investment funds

Registration requirements

See Registration - Firms ➜ Venture capital and private equity

Topical Guide for Registrants

Additional support for registrants