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ARTICLE · 30 JUNE 2025

ETF Regulations Due For A Refresh? CSA Launch Consultation On Proposed Amendments

McMillan LLP
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On June 19, 2025, the Canadian Securities Administrators ("CSA") published for comment CSA Consultation Paper 81-409 – Enhancing Exchange-Traded Fund Regulation: Proposed Approaches...

CanadaCorporate/Commercial Law
Ouvedi Rama Naiken
Ouvedi Rama Naiken
Jennie Baek
Jennie Baek
Yuha Khan
Yuha Khan
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On June 19, 2025, the Canadian Securities Administrators ("CSA") published for comment CSA Consultation Paper 81-409 – Enhancing Exchange-Traded Fund Regulation: Proposed Approaches and Discussion (the "Consultation Paper"), which outlines proposed amendments to the regulatory framework for exchange-traded funds ("ETFs") in Canada. The CSA have identified the ETF industry as an important area of focus, citing the strong growth of ETFs in Canada and their evolution from primarily aiming to replicate the performance of broad Canadian and U.S. equity market indices to offering investors exposure to a wide range of assets and investment strategies, including index tracking, smart beta strategies, daily leveraged/inverse exposure to indexes and commodity prices, asset allocation, and active management strategies. Noting that the existing regulatory framework is not highly tailored to ETFs, the CSA have published the Consultation Paper outlining their views on potential

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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