Regulatory Alerts2026-07-29
Added · Updated
Joint Canadian Securities Administrators / Canadian Investment Regulatory Organization Staff Notice 81-339: Industry Practices Relating to Foreign-Listed Exchange-Traded Funds
Managers of foreign-listed exchange-traded funds (Foreign ETFs) and their Canadian affiliates are reminded that active marketing or promotion in Canada may trigger prospectus requirements and, in Ontario, Quebec, and Newfoundland and Labrador, investment fund manager registration requirements. The notice clarifies existing Know Your Product, Know Your Client, and suitability determination obligations for registered dealers and their representatives when advertising, recommending, or purchasing Foreign ETFs for clients. It also encourages order execution-only dealers to provide alerts to investors about key differences between Foreign and Canadian ETFs before purchase. This guidance from the Canadian Securities Administrators and Canadian Investment Regulatory Organization is based on existing securities regulatory requirements and does not create new legal obligations.