Final Rule (effective September 4, 1997): OSC Rule - 35-502 - Non-Resident Advisers

ONTARIO SECURITIES COMMISSION RULE 35-503

TRADES BY CERTAIN MEMBERS OF THE TORONTO STOCK EXCHANGE

PART 1 DEFINITIONS

1.1 Definitions - In this Rule

"extra-provincial member" means a person or company that is a member of the TSE and that does not have an office in Ontario;

"remote access trade" means a trade in a security in Ontario executed on the TSE by using a computer terminal that provides access to the trading systems of theTSE from outside of Ontario; and

"TSE" means The Toronto Stock Exchange

PART 2 REGISTRATION EXEMPTION

2.1 Registration Exemption - Section 25 of the Act does not apply to a remote access trade by an extra-provincial member or by a partner, officer or employeeof an extra-provincial member if at the time of the remote access trade

(a) the extra-provincial member is registered with a Canadian securities regulatory authority other than the Commission;

(b) the extra-provincial member has delivered to the Canadian securities regulatory authorities with which the extra-provincial member is registered the financialstatements that they then require the extra-provincial member to have delivered;

(c) the extra-provincial member has filed with the SROs of which the extra-provincial member is a member the financial statements that they then require theextra-provincial member to have filed;

(d) the membership of the extra-provincial member in the TSE is not suspended and the extra-provincial member is not being deprived of any of the rights andprivileges of membership by the TSE;

(e) the partner, officer or employee of the extra-provincial member effecting the trade is registered with a Canadian securities regulatory authority with which theextra-provincial member is then registered; and

(f) the only residents of Ontario with whom the extra-provincial member and the partners, officers or employees of the extra-provincial member trade arepartners, officers or employees of members of the TSE who are registered under the Act.