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Rebecca practises securities law, as well as corporate and commercial law. She focuses on the compliance, regulatory and governance issues facing participants in the investment management industry, including fund managers, portfolio managers and dealers.
Rebecca has over 25 years of experience working with the investment management industry as a lawyer and a regulator.
Rebecca works with fund managers to establish new products
and to manage and administer funds in compliance with applicable regulation.
Among other things, she assists
fund managers and independent review committees to effectively implement and
comply with fund governance regulations
Rebecca also advises
firms about effective implementation of the regulatory and compliance
requirements for registrants mandated by the Canadian securities regulators.
Rebecca joined BLG in November 2003, after nine years as a senior investment funds regulator with the Ontario Securities Commission (OSC).
"Toronto-based Rebecca Cowdery is highlighted for her experienced handling of compliance and corporate governance issues."
"'She offers exceptional support with grounded advice and good industry and regulatory knowledge'."
"'She is very responsive and backed by a very strong group'."
“Clients recognize Rebecca Cowdery’s considerable technical knowledge, which is combined with a "great insight into the regulatory side" of investment funds. A large part of her practice involves advice on fund governance and compliance matters, and she is described as "very accessible and friendly" by those who have worked with her.”
Regularly consults with Canadian and international industry participants on a wide range of governance, sales practices, marketing, private placement and regulatory compliance matters.
Works with fund managers to establish, manage and distribute investment funds.
Works with registrant firms to improve their compliance systems through, among other things, providing assistance in preparing policies and procedures, advice in testing compliance systems, conducting "mock" compliance audits and working with registrant firms to respond appropriately to regulatory compliance audits and surveys.
Works with industry participants on establishing new systems for electronic processing and delivery of management services, electronic delivery of documents and obtaining electronic signatures.
Works with industry participants to obtain relief from regulatory requirements through novel and practical exemption applications.
Acted as regulatory counsel to the RESP Dealers Association of Canada (2008-2015) and regularly participates in committees of the Portfolio Management Association of Canada (PMAC), The Investment Funds Institute of Canada (IFIC) and the Investment Industry Association of Canada (IIAC).
Expertise in investment management public policy, regulation and practice. Rebecca was at the forefront of all major investment fund regulatory reform initiatives during her tenure at the OSC.
While at the OSC, lead the Canadian Securities Administrators policy projects to update and reform mutual fund regulation. This work included creating and implementing the national instruments dealing with mutual fund prospectus disclosure (81-101), mutual fund operations and management (81-102), commodity pools (81-104) and mutual fund sales practices (81-105).
While at the OSC, was principal author of the CSA concept proposal "Striking a New Balance: A New Framework for Regulating Mutual Funds and their Managers" and worked after its publication in March 2002 to develop draft rules to regulate fund governance.
While at the OSC, lead the Canadian Securities Administrators work to harmonize the regulation of mutual funds and segregated funds.
Leading the Ontario, Alberta and British Columbia securities commissions work to create and recognize the Mutual Fund Dealers Association of Canada as a self-regulatory organization.
Lead and principal organizer of BLG Investment Management semi-annual client seminars; in 2018: Regulatory Nutcrackers: 2018’s Four Realms of Focus (November), CSA Registrant Regulation Proposals: What’s Shelved (for now) and What’s Supersized (July) and Regulatory Disruptions: Keeping Track of Deve...