Thursday July 30 2026
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Canada
On 29th July 2026, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) have issued Staff Notice 81-339, which sets out guidance on industry practices relating to the marketing and sale of exchange-traded funds (ETFs) that are listed on a foreign exchange but not also on a Canadian exchange.
The guidance is intended to respond to the concerns raised and:
- reminds market participants that active marketing or promotion of a foreign ETF in Canada could trigger the prospectus requirement and, in certain jurisdictions, the investment fund manager registration requirement;
- clarifies how know-your-product, know-your-client, and suitability determination obligations apply to the sale of foreign ETFs; and
- encourages order execution-only dealers to consider providing improved disclosure to investors seeking to purchase foreign ETFs, before they make a purchase.
The CSA and CIRO will continue to monitor developments in this area to assess whether further policy initiatives are needed.
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