The holidays can bring many warm moments and fun surprises. Sticking to a spending plan, and being careful with your money, can help make the season less stressful and your bills more predictable. 

Putting Your Interests First 

A new set of rules for the investment industry, Client Focused Reforms, will help ensure that your interests, as an investor, are always put first.

If you earn income from seasonal work, your income likely changes from month to month. That can be stressful but relax, pour yourself some eggnog, and read these tips for budgeting.

Spotting Fake Corporate Websites 

Fraudsters are creating authentic looking websites that masquerade as legitimate investment firms. Find out more and how to avoid falling for fakes. 

Working with Older and Vulnerable Clients

As we work towards addressing the needs of older investors, the OSC has released a series of white label materials for registered firms and representatives. The free educational and outreach resources will help those working with older and vulnerable clients respond to signs of financial exploitation or diminished mental capacity.

The white label materials deliver on a key priority from the OSC Seniors Strategy while mitigating the burden some capital market participants may encounter when developing materials independently. The materials include best practices, ready-made forms and suggestions informed by subject matter experts and behavioural insights.

Appoint a Trusted Contact Person 

A Trusted Contact Person can add layer of protection to your investment account. Your financial advisor may contact them if there are concerns about financial exploitation or diminished mental capacity.

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OSC Provides Funding to Prosper Canada

The OSC is providing approximately $2.7 million in funding for Prosper Canada to deliver financial literacy, counselling and investor protection resources to financially vulnerable Canadians. Prosper Canada is a national charity dedicated to expanding economic opportunity for Canadians living in poverty through program and policy innovation.

Regulatory Updates & Initiatives

Here are some recent developments and publications:

• Modelled and building on the OSC’s well-established Investor Advisory Panel (IAP), the Canadian Securities Administrators (CSA) plans to establish its own IAP to represent the interests of retail investors in pan-Canadian policy development initiatives. To ensure appropriate interconnection, one or more CSA IAP members will be selected by the OSC from the membership of its own panel, to which Ontario residents are encouraged to apply through the OSC’s periodic application process. Any additional candidates residing in Ontario may be recommended for appointment to the CSA IAP only in limited circumstances.
• Canadian securities regulators, SROs and investor protection funds have established a timeline for the new self-regulatory framework.
• The OSC is seeking feedback from stakeholders on its draft 2022-2023 Statement of Priorities to inform business planning for the fiscal year.
• Canadian securities regulatory authorities published the results of their seventh annual review of disclosures relating to women on boards and in executive officer positions.
• The Financial Services Regulatory Authority of Ontario is consulting a framework to protect titles for financial planners and advisors in Ontario and set minimum education standards for use of these titles. Consultation closes on Dec 13, 2021.
• The OSC’s annual conference, OSC Dialogue 2021: Creating Conditions for Growth, included remarks from Ontario’s finance minister, the Hon. Peter Bethlenfalvy on November 23. The conference also included a lively discussion on the brave new world of retail investing and a keynote presentation by the Bank of Canada’s Deputy Governor Paul Beaudry assessing the risks to the stability of Canada’s financial system.

To help you refresh your budgeting for the new year, add up your expenses. It’s an important first step in creating a budget that includes your monthly estimated income and your expenses.

Warnings & Alerts

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