Attunity and KOM Networks partner to deliver a complete and easy-to-use solution for secure file transfer and archiving to meet compliance and regulatory needs.
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Securities Act
The Ontario Securities Commission enacted the Securities Act to protect investors from unfair, improper or fraudulent practices; and to foster fair and efficient capital markets and confidence in capital markets. This act refers to Canadian Securities Trading Institutions.
The Act mandates that records be kept of all internal business transactions and financial affairs as well as transactions executed on behalf of others. Records must be available for compliance review at any time to the Commission.
Penalties:
Penalties for contravention can include imprisonment and a minimum fine equal to the profit made or loss avoided and a maximum fine equal to the greater of $5 million or triple the profit made or loss avoided.
Complying With the Securities Act Records - Keeping and Review Provisions
| Standard | Summary of Requirements | Solutions |
|---|---|---|
| Record-keeping Part VII 19. (1) |
Every market participant shall keep such books, records and other documents as are necessary for the proper recording of its business transactions and financial affairs and the transactions that it executes on behalf of others and shall keep such other books, records and documents as may otherwise be required under Ontario securities law. 1994, c. 11, s. 358. | KOMworx® and KOMpliance® solution Rules-based protection and retention policies are automatically applied to specified record types to help you meet applicable compliance regulations throughout the entire lifecycle of your data. Retention periods are enforced on an individual file-by-file basis. Retained files are protected from changes or deletion for the determined duration. Flexible period types include Never Expiry, Fixed-explicit, Indefinite Retention, etc. |
| Provision of information to Commission Part VII 19. (3) |
Every market participant shall deliver to the Commission at such time or times as the Commission or any member, employee or agent of the Commission may require, (a) any of the books, records and documents that are required to be kept by the market participant under Ontario securities law; ... |
KOMworx® and KOMpliance® solution The files stored in the KOMworx Volume are readily available and fully accessible by authorized users. They can be printed and can be readily copied to media of choice; as required by the Commission staff. |
Additional Information:
Securities Act R.S.O 1990, Chapter s.5
Complying with the Personal Information Protection and Electronic Documents Act
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