News from the Americas

United States 

International Monetary Fund reviews top threats to markets and banks. The Wall Street Journal reported on the IMF’s warning that high corporate leverage could threaten financial stability as the Federal Reserve raises short-term interest rates, because higher borrowing costs could block firms’ ability to service debts. (4/19/2017) 

Canada 

Canadian securities regulators seek comment on potential oversight requirements for foreign audit firms. The CSA announced that it has published for comment CSA Consultation Paper 52-403 Auditor Oversight Issues in Foreign Jurisdictions, which seeks input on whether certain oversight requirements should be introduced for audits done by foreign firms. Comments are due by June 24, 2017. (4/25/2017)

OSC publishes updated rules of procedure and practice guideline for comment. The OSC announced that it has published for comment proposed Rules of Procedure and Forms and a Practice Guideline for OSC proceedings. Comments on the proposed Rules and Guideline are due by June 19, 2017. (4/20/2017) 

Investor Advisory Panel’s annual report highlights work on conflicted compensation, best interest. The OSC announced that the Investor Advisory Panel has released its 2016 Annual Report summarizing its recommendations, activities, submissions, consultations, and meetings during the calendar year. (4/12/2017)