OSC Staff Notice: 31-708 - National Registration Database (NRD) Filing Deadlines Extended

ONTARIO SECURITIES COMMISSION STAFF NOTICE 31-708

NATIONAL REGISTRATION DATABASE (NRD)

FILING DEADLINES EXTENDED

Registrants have indicated to staff that in some cases the quality of the data converted from the Commission's internal registration system to NRD is poor. Staff very much regrets this and is attempting to relieve the burden this has placed on registrants in two ways.

First, staff will extend some of the deadlines in the transition sections of the NRD and Registration Information rules. Specifically, staff will not take any action against firms or individuals that make NRD submissions under the following sections after the time required in the sections so long as the filing is made on or before September 30, 2003:

(a) section 7.4, section 7.6, and paragraph 7.9(1)(a) of Multilateral Instrument 31-102;

(b) section 7.4, section 7.6, and paragraph 7.9(1)(a) of OSC Rule 31-509 (Commodity Futures Act);

(c) paragraph 8.2(a), paragraph 8.2(c), section 8.3, and section 8.4 of Multilateral Instrument 33-109; and

(d) paragraph 8.2(a), paragraph 8.2(c), section 8.3, and section 8.4 of OSC Rule 33-506 (Commodity Futures Act).

Second, staff is investigating whether registration categories and officer titles that have been loaded incorrectly to NRD can be reloaded properly without industry involvement. Given this, registrants may want to focus on transition issues other than correcting these data conversion errors. We will use www.NRD-info.ca to provide updates on any progress we are able to make on this issue.

During the implementation of NRD, registrants may encounter situations that create undue burden and require exemptive relief. Staff recognizes this and will attempt to assist registrants when possible.

Questions

Please refer your questions to any of:

Dirk de Lint
Legal Counsel
Ontario Securities Commission
(416) 593-8090
[email protected] 

David Gilkes
Manager
Registrant Regulation
Ontario Securities Commission
(416) 593-8104
[email protected]

May 9, 2003