Final OSC Rule (effective August 17, 2000): OSC Rule - 31-507 - SRO Membership - Securities Dealers and Brokers

ONTARIO SECURITIES COMMISSION RULE 31-507

SRO MEMBERSHIP - SECURITIES DEALERS AND BROKERS

PART 1 MEMBERSHIP REQUIRED

1.1 Membership Required

(1) A securities dealer shall be a member of a SRO recognized bythe Commission under section 21.1 of the Act.

(2) A broker shall be a member of a SRO recognized by theCommission under section 21.1 of the Act.

1.2 Primary Audit Jurisdiction - A securities dealer or a broker that hasits head office located in Ontario shall be subject to the primary auditjurisdiction of the SRO recognized by the Commission of which it isa member.

PART 2 EFFECTIVE DATE

2.1 This Rule shall be effective on March 1, 2001 for an applicant forregistration as a securities dealer or broker.

2.2 This Rule shall be effective for a securities dealer on the renewal ofregistration for the securities dealer after March 1, 2001.

2.3 This Rule shall be effective for a broker on the renewal of registrationfor the broker after March 1, 2001.

PART 3 NOTICE TO SRO

3.1 Notice - Every registered securities dealer or broker that intends tomake an application for membership in a SRO pursuant to this Ruleshall give the SRO written notice of its intention no later than January1, 2001.

PART 4 EXEMPTION

4.1 Exemption - The Director may grant an exemption to this Rule, inwhole or in part, subject to such conditions or restrictions as may beimposed in the exemption.