The ASC participated with other Canadian securities regulators in the CSA Registration Reform Project to harmonize, streamline and modernize the registration requirements across Canada. National Instrument 31-103 Registration Requirements and Exemptions is the primary instrument regulating those who act as dealers, advisers or investment fund managers in Canada. NI 31-103 came into effect on September 28, 2009 and it includes:
- a new registration requirement for investment fund managers, exempt market dealers and senior officers responsible for compliance,
- fewer registration categories,
- higher proficiency standards for some registrants, and
- enhanced rules for consumer disclosure, referral arrangements, handling investor complaints, and disclosing and addressing conflicts of interest.
View NI 31-103 and the accompanying CSA Notice.