Registration and compliance

The Canadian Securities Administrators, along with the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, have established the CFRs Implementation Committee (the Committee) to consider and provide guidance on operational issues and questions shared by industry stakeholders relating to the implementation of the Client Focused Reforms.

We have published responses to questions received by the Committee to assist registrants as they prepare for the new requirements under the Client Focused Reforms and we will periodically publish responses to additional questions submitted to the Committee as we develop the guidance.

We encourage registrants to plan their transition to the new requirements now, so that they will be in compliance before the Client Focused Reforms come into effect.

Transitional Relief Related to the Elimination of the Deferred Sales Charge Option in respect of Client Focused Reforms

• Notice of General Order – Transitional Relief Related to the Deferred Sales Charge Option in respect of Client Focused Reforms Enhanced Conflicts of Interest and Client First Suitability Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

• Ontario Securities Commission Ontario Instrument 31-514 Transitional Relief Related to the Elimination of the Deferred Sales Charge Option in respect of Client Focused Reforms Enhanced Conflicts of Interest and Client First Suitability Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

• CSA Notice 31-360 Blanket Orders/Class Orders in respect of Transitional Relief Related to the Deferred Sales Charge Option in respect of Client Focused Reforms Enhanced Conflicts of Interest and Client First Suitability Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations