Practical commentary on securities law, exempt market compliance, fund formation, investor reporting, and private capital markets.
A mortgage investment corporation (MIC) can be an efficient vehicle for pooling capital for mortgage lending, but it requires careful alignment of tax qualification rules, Ontario securities regulation, and, in some cases, FSRA licensing under the MBLAA. This guide explains MIC formation, fundraising under NI 45-106, registration analysis under NI 31-103, and practical compliance considerations.
Launching a private investment fund in Ontario, Canada requires careful planning around structure, prospectus exemptions, registration obligations, and ongoing compliance. This guide explains how Ontario securities law applies to private funds, with practical discussion of National Instrument 45-106, National Instrument 31-103, and common regulatory issues faced by fund sponsors.
When raising capital from both U.S. and Canadian investors, a parallel fund structure is often the most efficient solution. This article explains how sponsors can structure parallel vehicles to manage tax and regulatory differences, align investor economics, and implement compliant governance, distribution, and operational frameworks across jurisdictions.