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The national registration search contains the names of all individuals and firms who are registered to sell securities in Canada, with the exception of those registered solely with the Ontario Securities Commision (OSC).

Canadian securities regulators issue statement following rescission of the Cole Memorandum

Jan 12 2018

Toronto –On October 16, 2017, the CSA published Staff Notice 51-352 Issuers with U.S. Marijuana-Related Activities. The notice outlined a disclosure-based approach to highlight risks facing issuers with U.S. marijuana-related activities and reflected the existence of a U.S. federal government forbearance approach (per the Cole Memorandum) to the enforcement of federal laws relating to marijuana.

The notice indicated that we would re-examine our views in the event that the U.S. federal government’s approach were to change.

On January 4, 2018, the U.S. Attorney General rescinded all previous guidance specific to federal law enforcement relating to marijuana, including the prior approach under the Cole Memorandum.

The CSA is considering whether our disclosure-based approach for issuers with U.S. marijuana-related activities remains appropriate in light of the rescission of the Cole Memorandum. Issuers with no U.S. marijuana-related activities and that otherwise operate in compliance with applicable Canadian laws are not the focus.

We will communicate more details about our position shortly.

The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

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For further information:

Kristen Rose
Ontario Securities Commission
Alison Walker
British Columbia Securities Commission
Jason Booth
The Manitoba Securities Commission
David Harrison
Nova Scotia Securities Commission
John O’Brien
Office of the Superintendent of Securities
Newfoundland and Labrador
Jeff Mason
Nunavut Securities Office
Shannon McMillan
Financial and Consumer Affairs Authority of Saskatchewan
Hilary McMeekin
Alberta Securities Commission
Sylvain Théberge
Autorité des marchés financiers
Erin King
Financial and Customer Services
Commission, New Brunswick
Steven Dowling
Government of Prince Edward Island
Superintendent of Securities
Rhonda Horte
Office of the Yukon Superintendent of Securities
Tom Hall
Office of the Superintendent of Securities,
Northwest Territories