Page 20 - 2013_2014 NASAA report

NASAA Member Activity | Mexico
NASAA Member Activity | Canada
NASAA Activity Report 13-14.indd
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Comision Nacional Bancaria y de Valores
On January 9, 2014, fnancial reform legislation was signed into law. Te new
legislation amends 34 diferent fnancial laws and strengthens the Mexican banking and
securities sectors by increasing competition, improving guarantee collection, lowering
borrowing costs, and enhancing transparency.. Among other issues, this reform makes it
mandatory for investment advisors to register before the Comision and be certifed by a
self-regulatory organization. Tis measure will reduce regulatory arbitrage by investment
advisors in regards to commercial banks and broker/dealers. Regarding mutual funds,
the reforms introduce a more fexible framework that facilitates their authorization,
incorporation, and operation procedures. Te fnancial reform is part of a series of
structural reforms that will contribute to Mexicos economic growth and prosperity.
Alberta Securities Commission
Te Commission held many education and outreach seminars throughout 2013,
including industry-focused sessions for exempt market dealers and portfolio managers
to help them learn more about their regulatory obligations. Te Commission also
presented to various community organizations such as the Canadian Association for
Retired Persons (CARP), the Better Business Bureau and several fnancial institutions
on a broad range of topics, including how to recognize investment fraud, available
Commission resources and how to best work together to protect the public. To increase
Albertans awareness of investor education resources, the Commission posted a Daily
Tip for investors on its Twitter page (@ASCUpdates) throughout Investor Education
Month (October 2013). Te Commission also alerted the public of potential misconduct
and fraud by issuing investor alerts, posting blogs on current issues and running weekly
Consumer Update radio ads on rural radio stations.
British Columbia Securities Commission
Te Commission in November 2013 created new on-line materials and province-wide
presentations aimed at informing small businesses about British Columbias capital
raising rules. Te publication, Capital Raising for Small Business, is a free guide that
covers: defning a security and the key principles of securities laws; discussing diferences
between the private placement market and public capital markets; explaining exemptions
and how they apply when raising capital; and describing what information investors may
seek from small businesses. Te guide is available for download on the Commissions
website. A video preview of the guide is on the Commissions YouTube page.
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