Notice of Commission Approval - Amendment to the Universal Market Integrity Rules - Definition of Employee

MARKET REGULATION SERVICES INC.
AMENDMENT TO THE UNIVERSAL MARKET INTEGRITY RULES
DEFINITION OF EMPLOYEE

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission has approved amendments to the Universal Market Integrity Rules (UMIR) to provide a definition of "employee". In addition, the Alberta Securities Commission, the British Columbia Securities Commission, the Manitoba Securities Commission and the Commission des valeurs mobilieres du Quebec have also approved the amendment. The amendment relates to the introduction of By-law 39 of the Investment Dealers Association that permits dealers to enter into a principal/agent relationship. The amendment ensures that various UMIR provisions would be applicable to persons who have entered into a principal/agent relationship. A copy and description of the amendments were published on October 11, 2002 at (2002), 25 OSCB 6778. No comments were received. The final version of the amendment is published in Chapter 13 of this Bulletin.