Securities Regulators recognize that investment firms have a very important function in the capital markets but also realize these firms and individuals are in a position where they may cause harm to the public. The ability to cause harm has been proven many times over the years. For this reason regulators have the power to monitor registrant conduct and investigate suspected violations of securities laws.
The regulators view compliance as a continuum: at one end there is voluntary compliance and at the other end there is regulatory action to force conformity. Regulatory action can cost your business both financially and reputationally.
In addition, capital markets are continually changing as a result of globalization, technological advancement, product innovation and other trends. As a result, there is no shortage of regulatory initiatives, consultations, and changes to rules and regulations making it difficult for firms to keep their compliance systems current.
David Gilkes led the Registrant Regulation team at the OSC and was Chair of the CSA Registrant Regulation Committee. He was involved in the development of registration and compliance related regulations including
NI 31-103. David not only knows what the rules say but he also knows what they mean.
Whether you have encountered compliance issues, wish to evaluate your compliance system, or need to understand how a new regulatory initiative could impact your business, North Star can help find solutions that meet regulatory requirements and fit your business model. It does not matter if your firm is large or small, North Star is devoted to assisting firms and individuals in the Canadian securities and investment management community. Our services include:
- Assisting firms through a compliance field review with the regulators
- Planning and implementing responses to the findings of the regulators
- Negotiating with regulators
- Designing, implementing and acting as a monitor for compliance improvement plans imposed by regulators
- Litigation support and advice including expert testimony
- Conducting Anti-Money Laundering and Suppression of Terrorist Financing risk assessments
- Creating comment letters in relation to new securities initiatives
- Preparing and conducting compliance training sessions
- Drafting Policies and Procedures Manuals and related forms and disclosure documents
- Preparing and filing applications for exemptions from securities requirements
- Reviewing marketing material for compliance with regulatory requirements including applying plain language principles
- Due diligence reviews for mergers and acquisitions of firms in the securities industry