PowellDorian's Regulatory Recap
PowellDorian delivers leading corporate and regulatory compliance solutions to organizations within all industry sectors throughout Western Canada. To help you meet your corporate objectives and enhance and protect your stakeholder value, we closely follow regulatory activities in all the industries we serve.
Here is your single source of this week's most significant regulatory news, to save you time and effort better spent focusing on your business.
ACCOUNTING AND TAXATION UPDATES
CICA / IASB
No news to report this week. |
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Canada Revenue Agency (CRA)
No news to report this week. |
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PUBLIC COMPANY REGULATORY UPDATE
OSC / BCSC / ASC / SSC / MSC / CSA / SEC / TSX
July 16, 2010: |
The Canadian Securities Administrators (CSA) published for comment proposed National Instrument 25-101 Designated Rating Organizations and related consequential amendments, which are aimed at introducing securities regulatory oversight of credit rating organizations.
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July 16, 2010: |
The Securities and Exchange Commission’s (SEC) division that reviews public company filings is creating three specialized offices to enhance its disclosure review and policy operations. The new offices in the Division of Corporation Finance will focus on large financial institutions, asset-backed securities and other structured products, and securities offering trends.
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July 14, 2010: |
The SEC issued a concept release seeking public comment on the U.S. proxy system and asking whether rule revisions should be considered to promote greater efficiency and transparency. Comments should be received on or before 90 days after publication in the Federal Register.
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FINANCIAL INSTITUTION REGULATORY UPDATE
OSFI / CDIC / CPA / Western Provincial Regulators
July 14, 2010: |
The Office of the Superintendent of Financial Institutions (OSFI) posted an update related to the Q1-2011 BCAR Return and Instructions. The update includes two new line item adjustments in the calculation of the assets to capital multiple.
Read More »
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July 13, 2010: |
OSFI published a notice indicating that in a press release dated July 12, 2010, the United Nations Security Council (UNSC) announced that the Al-Qaida and Taliban Sanctions Committee approved the removal of three individuals from its Consolidated List of individuals and entities. In a previous press release dated July 9, 2010, the UNSC announced that the Al-Qaida and Taliban Sanctions Committee approved the removal of two entities from its Consolidated List of individuals and entities. The tables posted on the OSFI Web site have been updated to incorporate the amendments, which have been bolded for ease of reference.
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CONSUMER PROTECTION / PRIVACY
FINTRAC / FCAC
July 16, 2010: |
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has published revised Guideline 6 Record Keeping and Client Identification to include the expanded definition of financial entity which comes into effect July 31, 2010.
Read More »
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About PowellDorian Services Inc.
PowellDorian is a leading professional services firm based in Vancouver, providing all-inclusive regulatory compliance solutions to companies from a wide range of industries throughout Western Canada. Through our years of serving private and publicly traded small-to-medium size enterprises, start-ups, financial institutions, not-for-profit organizations, and crown corporations, PowellDorian has become the trusted choice to provide compliance related services.
Our team of professionals, including lawyers, accountants, internal auditors, risk management and business process experts, possess over 75 years of combined experience from a wide range of industries and help our clients achieve their corporate objectives. With our vast experience and in-depth knowledge related to general counsel services, internal auditing, risk management, corporate governance, financial reporting, NI 52-109 / SOX certification, and IFRS conversion, our clients are confident that we can help overcome any regulatory challenge at any stage of the business, on time and on budget.
How can we help you? Feel free to email us at info(at)powelldorian.com or contact us via phone at +1.778.588.7210 for more information.
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Brought to you by:
Lisa Dorian, CA.CIA, CPA(IL)
President, PowellDorian
Lisa Dorian, President of PowellDorian, has worked with private and public companies, not-for-profit organizations, all levels of government and also within the financial services industry, providing compliance and control services, including those related to internal audit, corporate governance, enterprise risk management and most recently IFRS implementation. Lisa has held many senior financial positions within the public and private sectors before moving into her current compliance related activities. A past president of Financial Executives International Canada’s Vancouver Chapter, Lisa is a member of FEI Canada’s National Board and is also a member of FEI’s National Issues and Policy Advisory Committee, chairing the sub-committee on corporate governance and internal control.
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Brought to you by:
Lisa Dorian, CA.CIA, CPA(IL)
President, PowellDorian
Lisa Dorian, President of PowellDorian, has worked with private and public companies, not-for-profit organizations, all levels of government and also within the financial services industry, providing compliance and control services, including those related to internal audit, corporate governance, enterprise risk management and most recently IFRS implementation. Lisa has held many senior financial positions within the public and private sectors before moving into her current compliance related activities. A past president of Financial Executives International Canada’s Vancouver Chapter, Lisa is a member of FEI Canada’s National Board and is also a member of FEI’s National Issues and Policy Advisory Committee, chairing the sub-committee on corporate governance and internal control.