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
Sep 2, 2010: |
The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) are undertaking a joint lease project and would like both those who prepare financial statements (preparers) and those who use financial statements to make investment decisions (users) to contribute to the project completion by responding to a questionnaire. There is one questionnaire for lessors and another for lessees. Deadline for responses is September 30, 2010.
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Aug 31, 2010: |
The IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), published for public comment proposed enhancements to the criteria for the IASB’s annual improvements process. The annual improvements process provides a mechanism for non-urgent but necessary amendments to International Financial Reporting Standards (IFRSs) to be grouped together and issued in one package. Such amendments may clarify guidance and wording, or make relatively minor amendments to the standards that address unintended consequences, conflicts or oversights. Deadline for comment is November 30, 2010.
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Aug 24, 2010: |
The Alberta Securities Commission (ASC) issued Blanket Order 15-502 Notice to Attend (Hearing), authorizing a form of summons to compel attendance of witnesses at an enforcement hearing, available for use as an alternative to Form 1 under the Alberta Securities Commission Rules (General).
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Canada Revenue Agency (CRA)
Sep 1, 2010: |
The Department of Finance announced the new credit card regulation, originally announced on September 30, 2009 are now coming into force. The regulations apply to credit cards issued by federally regulated institutions.
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PUBLIC COMPANY REGULATORY UPDATE
OSC / BCSC / ASC / SSC / MSC / CSA / SEC / TSX / CNSX
Sep 1, 2010: |
The Ontario Securities Commission (OSC) is inviting new applications for membership on its Continuous Disclosure Advisory Committee (CDAC).
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Sep 1, 2010: |
The Canadian National Stock Exchange Markets Inc. (CNSX Markets) has moved its offices in Vancouver to 1111 West Hastings St., suite 1220, effective September 1, 2010.
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Aug 30, 2010: |
The Investment Industry Regulatory Organization of Canada (IIROC) has introduced a new resource to help investors learn the background of advisors who are currently approved to work at IIROC-regulated firms. In a single, easy-to-generate online report, investors can obtain relevant information that will help them make informed decisions when choosing an advisor.
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FINANCIAL INSTITUTION / PENSIONS REGULATORY UPDATE
OSFI / CDIC / CPA / Western Provincial Regulators
Sep 2, 2010: |
The Office of the Superintendent of Financial Institutions (OSFI) posted a reminder that the next monthly report to OSFI on the List of Names subject to the Regulations Establishing a List of Entities made under subsection 83.05(1) of the Criminal Code and/or the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism (RIUNRST) and/or United Nations Al-Qaida and Taliban Regulations (UNAQTR) must be filed by September 15, 2010.
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Sep 2, 2010: |
OSFI posted a reminder that the next monthly report to OSFI pursuant to the Regulations Implementing the United Nations Resolution on Iran (RIUNRI) and the Regulations Implementing the United Nations Resolution on the Democratic People’s Republic of Korea (RIUNRDPRK) must be filed by September 15, 2010.
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Aug 30, 2010: |
Credit Union Central of Canada (CUC) posted its Policy & Advocacy newsletter which includes topics on its 2010 policy priority projects; consultations related to the Competition Bureau Service standards, Basel regulations and changes to the Interest Act; an update on tax; and other topics of interest to credit unions.
Read More » |
CONSUMER PROTECTION / PRIVACY
FINTRAC / FCAC
No news to report this week. |
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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.