CSA Staff Notice: 31-328 - Revocation of Omnibus / Blanket Orders Exempting Registrants from Certain Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

1. Relief from the chief compliance officer (CCO) proficiency requirements for portfolio managers adding a category

This order is revoked.

The relief has been incorporated in sections 3.6(c), 3.10(c) and 3.14(d) of NI 31-103.

2. Relief from proficiency requirements for portfolio managers adding registration in the mutual fund dealer or exempt market dealer category

This order is revoked.

The relief has been incorporated in sections 3.5(d) and 3.9(e) of NI 31-103.

3. Relief from client notification requirements under section 14.5 of NI 31-103 for certain Canadian registrants with head offices outside of the local jurisdiction

This order is revoked.

The relief has been incorporated in section 14.5(2) of NI 31-103.

4. Relief from requirements to establish whether a client is an insider of a reporting issuer or any other issuer whose securities are publicly traded under section 13.2(2)(b) of NI 31-103 for mutual fund dealers

This order was revoked by a subsequent order that provided the same relief to both mutual fund dealers and scholarship plan dealers effective November 5, 2010. Please refer to CSA Staff Notice 31-321 dated November 5, 2010.

5. Relief from the requirement under section 13.2(2)(b) of NI 31-103 to establish whether a client is an insider of a reporting issuer or any other issuer whose securities are publicly traded in respect of a client for which the registrant only trades securities referred to in section 7.1(2)(b) or (c) of NI 31-103

This order, which replaced the order mentioned in item 4 of this chart, is revoked.

The relief has been incorporated in section 13.2(7) of NI 31-103.

6. Relief from the requirement under section 13.2(3)(b)(i) of NI 31-103 for a registered mutual fund dealer to establish the identity of any individual who owns or controls more than 10% of the voting rights attached to the voting securities of a corporation that is a client of the mutual fund dealer

This order is revoked.

The relief provided for in the order has been incorporated in section 13.2(3) of NI 31-103, subject to the following changes:

•

the percentage of the voting rights in clause (b)(i) has been increased from 10% to 25% for all categories of registered firms (and not just mutual fund dealers)

•

this percentage now applies to voting rights attached to outstanding voting securities of the corporation, whereas the order referred to 25% of outstanding shares

•

section 13.2(3) of NI 31-103 does not refer to the provisions of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), including applicable exemptions in that legislation.