The ASC is participating with other Canadian securities regulators in the CSA Registration Reform Project to harmonize, streamline and modernize the Canadian securities registration regime. Proposed National Instrument 31-103 Registration Requirements will be the primary instrument regulating securities registration in Canada. NI 31-103, which was initially published for comment in February 2007, will include:
- Permanent registration that will provide individuals with seamless transfer between firms
- A business trigger for dealer registration
- Registration of persons who deal in prospectus-exempt securities
- Registration of investment fund managers
The CSA received 267 comment letters on the 2007 Proposal. In response to the comments received, the CSA has made a number of important changes to the 2007 Proposal. Revised Proposed NI 31-103 was published for comment on February 29, 2008. The 90-day comment period will expire on May 29, 2008. It is expected that the rule will be implemented in early 2009.
View Revised Proposed NI 31-103 and the accompanying CSA Notice and Companion Policy.
For more details concerning the Registration Reform project, see its website at www.rrp-info.ca.