ID
2020-013

Type
Policy
Sector
Co-operatives Sector
Status
Public comment closed
Date
Comment Due Date

The Financial Services Regulatory Authority of Ontario (FSRA) is developing Interpretation and Approach guidance that identifies higher risk offerings and sets out enhanced disclosures by co-operative corporations (co-ops) that are raising capital. We are now consulting on the proposed guidance.

The Co-operative Corporations Act (CCA) requires that co-ops provide “full, true and plain disclosure” in their offering statements. This protects investors and helps them make informed investment decisions.

The proposed guidance will set out specific risk factors and information that co-ops must disclose when issuing securities to comply with FSRA’s interpretation of the requirements under the CCA. This non-exhaustive list includes debt repayment details, insolvency rankings and financial obligations. Potential investors will better understand the related risks before deciding whether to purchase these securities.

The proposed guidance will apply to high-risk offerings by co-ops.

We invite you to submit feedback until November 18, 2020.

#By submitting your content, you agree to have your materials posted on our engagement portal, used in reports and other materials prepared by Financial Services Regulatory Authority of Ontario (FSRA) that may be shared with the public. Content is moderated so that all posts are respectful and professional. The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, applies to all online content.

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Financial Planners and Advisors Sector
[2020-013] Canadian Advocacy Council - CFA Societies Canada
Please find attached a comment letter on behalf of The Canadian Advocacy Council of CFA Societies Canada.

We welcome the opportunity to engage with you further on any key priority in front of you and your team.

Regards,

The Canadian Advocacy Council of CFA Societies Canada
120 Adelaide Street West, Suite 2205|Toronto, ON M5H 1T1
Phone: 416.366.3658 | [email protected] | www.cfacanada.org

November 12, 2020
Co-operatives Sector
[2020-013] Erin Morgan - Ontario Co-operative Association
Please see the attached submission from Ontario's Co-operatives Sector.
November 9, 2020
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