CSA Staff Notice: 31-319 - Further Omnibus / Blanket Orders Exempting Registrants from Certain Provisions of National Instrument 31-103 Registration Requirements and Exemptions (Withdrawn by CSA Staff Notice 11-323, September 12, 2013)
CSA Staff Notice: 31-319 - Further Omnibus / Blanket Orders Exempting Registrants from Certain Provisions of National Instrument 31-103 Registration Requirements and Exemptions (Withdrawn by CSA Staff Notice 11-323, September 12, 2013)
Since the coming into force of National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103), the Canadian Securities Administrators (the CSA or we) have received applications requesting exemptions from certain provisions of NI 31-103.
Each of the CSA members has issued parallel orders (the "orders") that provide relief from the requirement to provide the relationship disclosure information prescribed by section 14.2(1) of NI 31-103 for IIROC member firms, for MFDA member firms and for mutual fund dealers in Québec.
This Notice summarizes the orders. We are publishing the orders with this Notice. The orders are also available on websites of CSA members, including:
www.lautorite.qc.ca
www.albertasecurities.com
www.bcsc.bc.ca
www.msc.gov.mb.ca
www.gov.ns.ca/nssc
www.nbsc-cvmnb.ca
www.osc.gov.on.ca
www.sfsc.gov.sk.ca
1. | Relief from the requirement to provide the relationship disclosure information prescribed by section 14.2(1) of NI 31-103 for IIROC member firms |
Section 14.2 of NI 31-103, which prescribes relationship disclosure information, is scheduled to come into effect on September 28, 2010. Based on the current status of the proposals of IIROC and the MFDA on the Client Relationship Model ("CRM"), it is not anticipated that the equivalent SRO relationship disclosure requirements will be in effect by September 28, 2010.
Each regulator has issued an order that exempts a dealer that is a member of IIROC from the application of the requirements of section 14.2(1) of NI 31-103 until the earlier of September 28, 2011 or the coming into force of amendments to the IIROC regulation giving effect to the IIROC CRM proposal.
2. | Relief from the requirement to provide the relationship disclosure information prescribed by section 14.2(1) of NI 31-103 for MFDA member firms and for mutual fund dealers in Québec |
Each regulator has issued an order that exempts a dealer that is a member of the MFDA, and, in Québec, a mutual fund dealer, from the application of the requirements of section 14.2(1) of NI 31-103 until the earlier of September 28, 2011 or the coming into force of amendments to the MFDA rules giving effect to the MFDA CRM proposal.
In Québec, the order will be in force until the earlier of September 28, 2011 or the coming into force of the regulation on mutual fund dealers in Québec.
This relief applies to MFDA members and mutual fund dealers in Québec notwithstanding their registration in other categories.
Questions
If you have questions regarding this Notice or the orders please direct them to any of the following:
Lindy Bremner
Senior Legal Counsel, Capital Markets Regulation
British Columbia Securities Commission
Tel: 604-899-6678
1-800-373-6393
[email protected]
Navdeep Gill
Legal Counsel, Market Regulation
Alberta Securities Commission
Tel: 403-355-9043
[email protected]
Dean Murrison
Deputy Director, Legal/Registration
Saskatchewan Financial Services Commission
Tel: 306-787-5879
[email protected]
Chris Besko
Legal Counsel, Deputy Director
The Manitoba Securities Commission
Tel. 204-945-2561
Toll Free (Manitoba only) 1-800-655-5244
[email protected]
Dirk de Lint
Senior Legal Counsel
Registrant Legal Services
Ontario Securities Commission
Tel: 416-593-8090
[email protected]
Sophie Jean
Conseillère en réglementation
Surintendance de l’assistance à la clientèle et de la distribution
Autorité des marchés financiers
Tel: 514-395-0337, ext. 4786
Toll-free: 1-877-525-0337
[email protected]
Brian W. Murphy
Deputy Director, Capital Markets
Nova Scotia Securities Commission
Tel: 902-424-4592
[email protected]
Susan Powell
Senior Legal Counsel
New Brunswick Securities Commission
Tel: 506-643-7697
[email protected]
Katharine Tummon
Superintendent of Securities
Prince Edward Island Securities Office
Tel: 902-368-4542
[email protected]
Craig Whalen
Manager of Licensing, Registration and Compliance
Financial Services Regulation Division
Securities Commission of Newfoundland and Labrador
Tel: 709-729-5661
[email protected]
Louis Arki, Director, Legal Registries
Department of Justice, Government of Nunavut
Tel: 867-975-6587
[email protected]
Donn MacDougall
Deputy Superintendent, Legal & Enforcement
Office of the Superintendent of Securities
Government of the Northwest Territories
Tel: 867-920-8984
[email protected]
Frederik J. Pretorius
Manager Corporate Affairs (C-6)
Dept of Community Services
Government of Yukon
Tel: 867-667-5225
[email protected]