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PMAC has submitted our response to the Canadian Securities Administrators’ (CSA) proposed amendments to National Instrument 81-102 Investment Funds (the Proposed Amendments) and the accompanying consultation paper on liquidity risk management tools, liquidity classification, regulatory reporting, and investor disclosure (the Consultation Paper). In our submissions,...
On March 23, 2026, PMAC and CFA Societies Canada jointly submitted a letter to the Ontario Minister of Finance encouraging Ontario to move forward with the OSC’s participation in the CSA’s Passport System. The letter outlines how participation would reduce interprovincial barriers, improve access to...
We applaud the participating jurisdictions for taking steps to harmonize the self-certified investor prospectus exemption among them. We believe that making the eligibility criteria and the application of the exemption consistent among jurisdictions will result in less confusion, improved compliance with the exemption and ultimately...
PMAC responded to the OSC’s Statement of Priorities for 2026-27. Our key recommendations are for the OSC to: Join the CSA passport system; and Refrain from delegating any further registration responsibilities to the Canadian Investment Regulatory Organization (CIRO). In our view, OSC participation in...
PMAC acknowledges the work the CSA is doing to reduce regulatory burden and increase competition in Canada’s capital markets, especially given the current economic uncertainty. Providing blanket exemptions from certain continuous disclosure requirements and establishing the voluntary semi-annual reporting framework may contribute to reducing regulatory...
