COVID-19 Update - Latest developments on the impact of COVID-19 on Canada's capital markets

The Ontario Securities Commission (OSC) is taking all necessary precautions to protect the health and safety of its employees and the public as we respond to challenges due to COVID-19. The OSC continues to collaborate with the Canadian Securities Administrators (CSA), to coordinate our approach for market participants on filing deadlines, meeting expectations for Annual General Meetings and other compliance requirements. We are also actively monitoring market operations and are working collaboratively with the Investment Industry Regulatory Organization of Canada (IIROC). Find the latest developments on the impact of COVID-19 on Canada’s capital markets here:

  1. News Releases
  2. Regulatory Relief and Guidance
  3. OSC Proceedings
  4. Information for Investors
  5. Other Resources
 

News Releases

May 29, 2020OSC News Release: OSC continues to temporarily waive late fees for market participants due to COVID-19
May 29, 2020CSA News Release: Canadian securities regulators remind issuers of importance of disclosure in financial reporting
May 20, 2020CSA News Release: Temporary relief from certain regulatory filings available to investment funds and non-investment fund issuers due to COVID-19
May 1, 2020CSA News Release: Canadian securities regulators provide temporary relief to public companies with delayed annual meetings due to COVID-19
April 27, 2020OSC News Release: OSC to host webinar for small businesses on COVID-19 disclosure considerations
April 23, 2020OSC Investor Alert: OSC and RCMP issue joint warning on coronavirus investment scams
April 17, 2020CSA News Release: Canadian securities regulators temporarily increase short-term borrowing limits for mutual funds investing in fixed income
April 17, 2020OSC News Release: OSC temporarily waives all late fees for market participants
April 16, 2020FSRA and OSC Provide Update on Syndicated Mortgage Investments
April 16, 2020CSA News Release: Canadian securities administrators provide update on syndicated mortgage regime
April 16, 2020CSA News Release: Canadian securities administrators adjust implementation date for client focused reforms
April 14, 2020OSC Investor Alert: Aggressive Stock Promotion Exploits Fears of Coronavirus Recession
April 9, 2020CSA News Release: Joint statement by Canadian Securities Administrators and Investment Industry Regulatory Organization of Canada on recent volatility in Canadian equity markets
April 9, 2020CSA News Release: Canadian securities regulators provide update on changes to regulatory work in light of COVID-19
March 24, 2020OSC News Release: Update on OSC operations in response to COVID-19
March 23, 2020CSA News Release: Canadian securities regulators publish blanket relief for market participants due to COVID-19
March 20, 2020CSA News Release: Canadian securities regulators provide guidance on conducting Annual General Meetings during COVID-19 outbreak
March 19, 2020CSA News Release: Canadian securities regulators warn public of coronavirus-related investment scams
March 18, 2020CSA News Release: Canadian securities regulators to provide blanket relief for market participants due to COVID-19
March 16, 2020OSC News Release: OSC announces operational changes in response to COVID-19
March 16, 2020CSA News Release: Canadian securities regulators provide update on COVID-19 and potential filing delays by reporting issuers

Regulatory Relief and Guidance

For all market participants

May 29, 2020

Notice of General Order - Ontario Instrument 13-506 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-502 Fees, No. 2

General Order – Ontario Instrument 13-506 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-502 Fees, No. 2

May 29, 2020

Notice of General Order – Ontario Instrument 13-507 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees, No. 2

General Order – Ontario Instrument 13-507 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees, No. 2

May 7, 2020

OSC SME Institute Webinar - COVID-19: Continuous Disclosure Obligations and Considerations for Issuers (PDF, Video)

April 17, 2020

Notice of General Order – Ontario Instrument 13-504 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-502 Fees.

Ontario Instrument 13-504 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-502 Fees.

April 17, 2020

Notice of General Order – Ontario Instrument 13-505 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees.

Ontario Instrument 13-505 Temporary Relief from Accrual of Late Fees Charged under Ontario Securities Commission Rule 13-503 (Commodity Futures Act) Fees.

For issuers, other than investment funds

May 20, 2020

Notice of General Order – Ontario Instrument 51-505 Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020

General Order – Ontario Instrument 51-505 Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020

May 1, 2020

Notice of General Order – Ontario Instrument 51-504 Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials

General Order – Ontario Instrument 51-504 Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials

April 3, 2020 as updated April 16, 2020, May 1, 2020 and May 13, 2020

CSA Staff Notice 51-360 (Updated) - Frequently Asked Questions Regarding Filing Extension Relief Granted by Way of a Blanket Order in Response to Covid-19

March 23, 2020

Notice of General Order – Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements

General Order - Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements

For investment funds

May 20, 2020

Notice of General Order - Ontario Instrument 81-505 Extension of Certain Filing, Delivery and Prospectus Renewal Requirements of Investment Funds with Deadlines during the period from June 2 to September 30, 2020

General Order - Ontario Instrument 81-505 Extension of Certain Filing, Delivery and Prospectus Renewal Requirements of Investment Funds with Deadlines during the period from June 2 to September 30, 2020

April 17, 2020

Notice of General Order – Ontario Instrument 81-504 Temporary Exemption from Borrowing Limits to Accommodate Redemption Requests of Mutual Funds

Ontario Instrument 81-504 Temporary Exemption from Borrowing Limit to Accommodate Redemption Requests of Mutual Funds Investing in Fixed Income Securities

March 23, 2020

Notice of General Order - Ontario Instrument 81-503 Extension of Certain Filing, Delivery and Prospectus Renewal Requirements of Investment Funds

General Order - Ontario Instrument 81-503 Extension of Certain Filing, Delivery and Prospectus Renewal Requirements of Investment Funds

For registrants

May 28, 2020

Notice of General Order - Ontario Instrument 31-513 Temporary Exemption from Certain Financial Statement and Information Delivery Requirements for Registrants and Unregistered Capital Markets Participants, No. 2

Ontario Instrument 31-513 - Temporary Exemption from Certain Financial Statement and Information Delivery Requirements for Registrants and Unregistered Capital Markets Participants, No. 2

April 16, 2020

OSC Notice of General Order – Relief in respect of Client Focused Reforms Conflict of Interest Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

Ontario Instrument 31-511 Relief in respect of Client Focused Reforms Conflict of Interest Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

April 16, 2020

OSC Notice of General Order – Relief in respect of Client Focused Reforms Relationship Disclosure Information Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

Ontario Instrument 31-512 Relief in respect of Client Focused Reforms Relationship Disclosure Information Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

March 23, 2020

Notice of General Order – Ontario Instrument 31-510 Temporary Exemption from Certain Financial Statement and Information Delivery Requirements for Registrants and Unregistered Capital Markets Participants

General Order - Ontario Instrument 31-510 Temporary Exemption from Certain Financial Statement and Information Delivery Requirements for Registrants and Unregistered Capital Markets Participants

For other regulated entities (including designated rating organizations)

March 23, 2020

Notice of General Order – Ontario Instrument 25-502 Temporary exemption from certain reporting requirements for Regulated Entities carrying on business in Ontario

General Order - Ontario Instrument 25-502 Temporary exemption from certain reporting requirements for Regulated Entities carrying on business in Ontario

OSC Proceedings

April 27, 2020Notice from the Office of the Secretary: Update on Proceedings Before the Ontario Securities Commission Tribunal
March 19, 2020Notice from the Office of the Secretary: Update on Proceedings Before the Ontario Securities Commission Tribunal
March 16, 2020 The OSC will not be holding in-person hearings until at least April 30, 2020. The Office of the Secretary will reach out to parties with hearings scheduled between now and April 30 to determine if a hearing may proceed via teleconference or in writing. The Secretary’s Office will provide additional updates as information is made available.

Information for Investors

GetSmarterAboutMoney.ca: COVID-19 and your money Information for investors on your investments, changes to important financial dates and other information.
May 7, 2020Investor News: Meet Grant Vingoe, Acting OSC Chair & CEO; COVID Scams; OSC Priorities; Dollar-Cost Averaging; Dividends; Wills; #COVIDFraudChat
April 23, 2020OSC Investor Alert: OSC and RCMP issue joint warning on coronavirus investment scams
April 16, 2020Investor News: COVID-19 News & Financial Supports; Elder Abuse Prevention; New Fraud Alerts; Telephone Townhall; CIPF; Retirement Cash Flow Calculator
April 14, 2020OSC Investor Alert: Aggressive Stock Promotion Exploits Fears of Coronavirus Recession
April 2, 2020Investor News: COVID-19 & Your Money; Circuit Breakers; Emergency Benefits; Coronavirus Fraud; Cash Flow; Important Financial Dates & more
March 19, 2020CSA News Release: Canadian securities regulators warn public of coronavirus-related investment scams
March 19, 2020Investor News: COVID-19 – Important Information and Response: OSC Operational Changes; Relief for Market Participants; Warning about Coronavirus-related Investment Scams; Changes to Tax Deadlines; Bear Markets; Historical Market Performance & more
March 12, 2020Investor News: Market Volatility; Managing Risk; Protecting Older & Vulnerable Investors; IAP; Yield Curve; Historical Charts; Seniors Tax Credits

Other Resources

Investment Industry Regulatory Organization of Canada (IIROC)
Mutual Fund Dealers Association of Canada (MFDA)

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