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ARTICLE · 30 SEPTEMBER 2021

CSA Provides Advertising, Marketing And Social Media Guidance For Crypto-Trading Platforms

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On September 23, 2021, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) provided detailed guidance directed at the marketing practices...

CanadaTechnology
Allan Goodman
Allan Goodman
Francesca Guolo
Francesca Guolo
Michael Partridge
Michael Partridge
Shadi Varkiani
Shadi Varkiani
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Summary

On September 23, 2021, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) provided detailed guidance directed at the marketing practices of Crypto-Trading Platforms (CTPs). Joint CSA/IIROC Staff Notice 21-330 Guidance for Crypto-Trading Platforms: Requirements relating to Advertising, Marketing and Social Media Use ("Staff Notice 21-330") provides an overview of the principal requirements under securities legislation and IIROC rules pertaining to the advertising and marketing strategies of registered and prospective CTPs.

Staff Notice 21-330 was published to address certain CTP advertising practices that may have breached securities legislation requirements and/or raised investor protection or public interest concerns. Specifically, regulators voiced concerns over "gambling-style" promotions and schemes that could inappropriately encourage investors to take on excessively risky trading they

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