Hey Dumpster! Welcome to the forum.
Laws can varry from province to province and from cop to cop!
With a lot of mods I have done to my bike they are "technically illegal". I say technically becasue by the letter of the law, stuff like removing the fender, blue pod lights, Two Bros exhaust and flushie turn signals are all "illegal". Do you get busted for it? Depends on the police department, province and the individual cop! You roll the dice. Sometimes you win, sometimes you don't.
So feel free to remove the stock rear fender, just replace it with a FE kit of some kind. FE kits are still technically illegal and some cops go on the look out for them. On the other hand, so many riders have em on now a days that I think most cops don't bother with it as long as they can clearly see your plate and that it is not tucked up under your seat or at a sharpe angle. Never had a problem with any of my FE kits or mods and if you get the FAZR6 FE Kit that is designed for our bike, it looks 'stock' and still very clearly displays the plate.
It's something you will have to make a decision for yourself. Yes, you could get hassled or even receive a ticket....but to me, possibly getting the odd ticket is still worth it for me.
As for no rear signals....well that is just stupid my friend. I have both small, short stalk signals that came with my Two Bros exhaust as well as I made some custom LED strip signals:
Boneman's "FAZED" web site - Mods: Rear LED Amber Signal Strip Lighting
I DON'T recommend not having any turn signals. Mostly as a safety issue, but you will get ticketed for sure for not having any. Not having any rear signals is a sure fire way to have a cager rear end you! Get smaller ones, or make custom ones, but have
some sort of signals regardless.
Hope this helps!