PowellDorian's Regulatory Recap
PowellDorian Services Inc. 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
June 18, 2010: |
The BC Securities Commission (BCSC) published policy publication 45-307 Regulatory Developments Regarding Securitization [CSA Staff Notice] regarding an update from Canadian Securities Administrators’ staff on the development of regulatory proposals relating to securitized products, including asset-backed commercial paper (ABCP) and asset-backed securities.
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June 17, 2010: |
The Securities and Exchange Commission (SEC) announced that the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) are filing proposed rules to clarify the process for breaking erroneous trades. The rules would make it clearer when, and at what prices, trades would be broken.
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June 16, 2010: |
The Canadian Securities Administrators (CSA) published CSA Staff Notice 81-319 Status Report on the Implementation of Point of Sale Disclosure for Mutual Funds, which outlines its plan to proceed with a staged implementation of point of sale delivery for mutual fund disclosure.
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June 16, 2010: |
The Alberta Securities Commission (ASC) and the United States’ Commodity Futures Trading Commission (CFTC) signed a Memorandum of Understanding to enhance cooperation and the exchange of information relating to the supervision of cross-border clearing organizations.
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June 16, 2010: |
The SEC is proposing rule amendments to help clarify the meaning of a date in a target date fund’s name and enhance the information provided to investors in these funds as they invest for retirement. Public comment on the rule amendments is open for a period of 60 days.
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June 16, 2010: |
A new edition of handbook, ISO 9001 for Small Businesses, has just been jointly published by the International Organization for Standardization (ISO) and the International Trade Centre (ITC). The handbook has been updated to take account of the latest edition of ISO 9001, published in 2008.
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June 14, 2010: |
The SEC, Quebec Autorité des marchés financiers (AMF) and Ontario Securities Commission (OSC) signed a Memorandum of Understanding to facilitate their supervision of regulated entities that operate across the U.S.-Canadian border.
Read More » |
FINANCIAL INSTITUTION REGULATORY UPDATE
OSFI / CDIC / CPA / Western Provincial Regulators
June 14, 2010: |
The Office of the Superintendent of Financial Institutions (OSFI) is issuing the final version of its Designated Persons Listings and Sanctions Laws - Instruction Guide to assist federally regulated financial institutions regarding compliance obligations under Canada's legislative measures against terrorists and terrorism financiers, and financiers of nuclear proliferation and weapons of mass destruction.
Read More »
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CONSUMER PROTECTION / PRIVACY
FINTRAC / FCAC
June 14, 2010: |
To assist in the 10 Year Evaluation of Canada’s Anti- Money Laundering and Anti-Terrorist Financing (AML/ATF) Regime, the Financial Transactions and Reports Analysis Centre (FINTRAC), through the Department of Finance, is requesting input from key stakeholders on the AML/ATF Regime through the use of an on-line survey.
URL Address: http://short.capra.net/amlatf-en
Username: participant
Password: jRQ?67B
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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.