United States

US government monitor sees US financial stability facing threat from Brexit. Reuters reported on the Office of Financial Research’s statement that the US financial system faces greater potential volatility due to Britain’s decision to leave the EU while low and negative interest rates also raise risks. (7/25/2016)


OSC publishes Summary Report for Dealers, Advisers and Investment Fund Managers. The OSC announced its publication of OSC Staff Notice 33­747 Annual Summary Report for Dealers, Advisers and Investment Fund Managers. The report describes initiatives undertaken by the OSC’s Compliance and Registrant Regulation Branch in the 2015­2016 fiscal year, including registration and compliance activities, policy initiatives, and new programs. (7/21/2016)

Canadian securities regulators publish results of continuous disclosure reviews for fiscal 2016. The CSA announced publication of Staff Notice 51­346 Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2016, which summarizes the results of the CSA’s continuous disclosure review program, highlights common deficiencies, and illustrates best practices for reporting issuers. (7/18/2016)

OSC launches Office of the Whistleblower. The OSC announced its launch of the Office of the Whistleblower, the first paid whistleblower program by a securities regulator in Canada. The OSC also published OSC Policy 15­601 Whistleblower Program, which outlines the program’s eligibility criteria and reflects input received from stakeholders on the program. The whistleblower program offers compensation of up to CDN$5 million to individuals who come forward with tips that lead to enforcement action. The program accepts tips on possible violations of Ontario securities law, including illegal insider trading, market manipulation, and  accounting and disclosure violations. (7/14/2016)