Canada’s new registration rule was published by the Canadian Securities Administrators in final form on July 17, 2009.
The new regime is expected to be in force September 28, 2009 with transition periods for implementation of aspects varying. The new regime, which has been several years in the making, is intended to harmonize, streamline and modernize registration requirements and exemptions across all Canadian jurisdictions. It regulates dealers and advisers, effectively eliminating the dealer registration exemption for trading in the exempt market in Canada, and imposes a new registration requirement for investment fund managers.
The new regime has significant implications for Canadian and non-Canadian market participants, particularly those now doing business on an unregistered or exempt basis.
More details of the regime and its impact on particular types of market participants and their business activities are available by clicking the relevant topic set out below.
National Instrument 31-103 Registration Requirements and Exemptions, Companion Policy 31-103CP and consequential amendments to related instruments, policies and forms are available on the Ontario Securities Commission website and are available individually on the Alberta Securities Commission website.
Official website of Registration Reform Project.
Proposed amendments to MFDA Rules and Policies relating to Client Relationship Model proposals.