OSC Policy 4.6: OSCP - 34-601 - Registration - Declaration of Personal Bankruptcy

1. Individuals registered as salesmen, partners or officers of registered dealers or as a partner or officer of a registered adviser who declare personal bankruptcy are under an obligation to promptly advise the Ontario Securities Commission of their declaraton.

2. Each situation will be reviewed and assessed on its merits. The fact of personal bankruptcy will not of itself call for cancellation of the individual's registration in the case of a salesman. It is likely to raise more serious questions as to the fitness for continued registration of individuals registered in the other categories.

(Former Policy 3-65: First published (1982) O.S.C.B. 240E; published as 4.6 (1982) 4 O.S.C.B. 281E.)