Registration Requirements & Related Matters


Refer to section 3 - Registration Requirements and Related Matters for current policies, instruments and forms related to registration.

Adoption of Amendments to National Registration Rule

  • 31-103- National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

    Adoption of amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations relating to dispute resolution services. The amendments come into force on May 1, 2014.
      
  • 31-103 - National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations

    Adoption of amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations relating to cost disclosure, performance reporting and client statements. The amendments come into force on July 15, 2013.
     
  • BCN 2012/22 - Notice of Adoption of Multilateral Policy 31-202 Registration Requirement for Investment Fund Managers and Amendments to Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations
     

    This notice announces the adoption of Multilateral Policy 31-202 Registration Requirement for Investment Fund Managers and consequential amendments to Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, relating to the registration of investment fund managers.  These will come into force on September 28, 2012.
     
  • BCN 2011/18 - Adoption of Amendments to National Instrument 31-103 Registration Requirements and Exemptions and Amendments to National Instrument 33-109 Registration Information

    This BC Notice announces the adoption, effective July 11, 2011, of amendments to National Instrument 31-103 Registration Requirements and Exemptions, related forms and Companion Policy 31-103CP and amendments to National Instrument 33-109 Registration Information, related forms and Companion Policy 33-109CP.

Advance Notice of Adoption of Amendments to National Registration Rule

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  • No new documents

Requests for Comment

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  • CSA Notice - Notice of and Request for Comment on Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions And Ongoing Registrant Obligations, National Instrument 33-109 Registration Information, National Instrument 52-107 Acceptable Accounting Principles And Auditing Standards and to related policies and forms.

    In the attached notice, the Canadian Securities Administrators are publishing for comment proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, National Instrument 33-109 Registration Information, National Instrument 52-107 Acceptable Accounting Principles And Auditing Standards and related companion policies and forms. The comment period expires on March 5, 2014.

Frequently Asked Questions about NI 31-103

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  • CSA Staff Notice 31-337, published February 27, 2014, sets out responses to frequently asked questions (FAQs) on the amendments to NI 31-103 and CP 31-103, implementing phase 2 of the client relationship model which came into force on July 15, 2013 (the CRM2 Amendments). It also provides additional guidance on the CRM2 Amendments.
  • CSA Staff Notice NI 31-103, published February 5, 2010, compiles staff notices containing FAQs about NI 31-103 Registration Requirements and Exemptions and Related Instruments that the CSA has published from time to time. It includes FAQs from CSA Staff Notice 31-314 and CSA Staff Notice 31-313.
  • CSA Staff Notice 31-314, published February 5, 2010, supplements CSA Staff Notice 31-313, and also answers common questions and helps those working with these instruments to understand and comply with them. The questions addressed in this notice relate specifically to financial reporting requirements during the first year under the new registration regime.
  • CSA Staff Notice 31-313, published on December 18, 2009, provides a compilation of frequently asked questions (FAQs) from the enquiries the Canadian Securities Administrators (CSA) received concerning NI 31-103 and NI 33-109, in order to assist those working with these instrumen

Adoption of National Registration Rule

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On September 28, 2009, the Canadian Securities Administrators adopted NI 31-103 Registration Requirements and Exemptions, Companion Policy 31-103CP Registration Requirements and Exemptions, related documents, and consequential amendments to national and multilateral instruments.

Advance Notice of National Registration Rule

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On July 17, 2009, the Canadian Securities Administrators announced their intent to adopt NI 31-103 Registration Requirements and Exemptions and related documents on September 28, 2009. In British Columba, adoption is conditional on the Minister of Finance's approval.

Staff Notices about National Registration Rule

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  • CSA Staff Notice 31-338, published May 1, 2014, provides guidance regarding offering dispute resolution services along with preparing and delivering client disclosure.  This Notice should assist portfolio managers, exempt market dealers and other registrants who are not members of a self-regulatory organization in meeting their regulatory obligations.
  • CSA Staff Notice 31-336, published January 9, 2014, provides guidance, including CSA staff's views on best practices and practices we consider to be unacceptable, in the areas of KYC, KYP and suitability. This Notice should assist portfolio managers, exempt market dealers and other registrants who are not members of a self-regulatory organization in meeting their regulatory obligations.
  • CSA Staff Notice 33-316, published December 17, 2010, is a follow up to CSA Consultation Paper 33-403 The Standard of Conduct for Advisers and Dealers: Exploring the Appropriateness of Introducing a Statutory Best Interest Duty When Advice is Provided to Retail Clients; summarizes the consultation work conducted to date in respect of the best interest consultation initiative, and identifies the key themes that emerged from the best interest consultation process.
  • CSA Staff Notice 31-333, published February 7, 2013, is a follow-up to CSA Staff Notice 31-327 - Broker-Dealer Registration in the Exempt Market Dealer Category published on September 2, 2011 and CSA Staff Notice 31-331 - Follow-up to Broker-Dealer Registration in the Exempt Market Dealer published on July 12, 2012. The purpose of this notice is to inform firms currently conducting brokerage activities while registered in the exempt market dealer or in the restricted dealer category that the Investment Industry Regulatory Organization of Canada (IIROC) does not intend to proceed with the Restricted Dealer Member Proposal published on July 12, 2012.  The CSA remains of the view that IIROC should regulate firms that conduct brokerage activities. Therefore, we intend to publish proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations later in 2013 in order to prohibit exempt market dealers from conducting brokerage activities.
  • CSA Staff Notice 31-332, published January 17, 2013, provides applicants for Advising Representatives (ARs) or Associate Advising Representatives (AARs) registration with a summary of decisions about relevant investment management experience. The Canadian Securities Administrators expects applicants to consider the information in this notice when deciding whether to apply for AR or AAR registration, and when preparing an application.
  • CSA Staff Notice 31-331, published July 12, 2012, is a follow-up to CSA Staff Notice 31-327 - Broker-Dealer Registration in the Exempt Market Dealer Category published on September 2, 2011. The purpose of CSA Staff Notice 31-331 is to introduce an Investment Industry Regulatory Organization of Canada (IIROC) Concept Paper published as IIROC Notice 12-0217.
  • CSA Staff Notice 31-330, published July 5, 2012, announces orders that extend certain transition provisions in Part 16 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
  • CSA Staff Notice 31-329, published September 28, 2011, announces a number of orders that provide interim relief from certain provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
  • CSA Staff Notice 31-328, published September 16, 2011,  announces the revocation of certain blanket orders that are no longer necessary due to recent NI 31-103 amendments.
  • CSA Staff Notice 31-327, published September 2, 2011, announces that staff of the Canadian Securities Administrators will be examining policy issues relating to firms registered as exempt market dealers that are carrying out brokerage activities and in the interim will consider registering these firms in the restricted dealer category with terms and conditions.
  • CSA Staff Notice 31-326, published July 15, 2011, reminds registrant of their obligation to ensure outside business activities do not impair or impede the performance of their regulatory obligations, including compliance with the conflicts of interest provisions under National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
  • CSA Staff Notice 31-317 (Revised), published July 30, 2010 with a corresponding reporting form, is a notice which has been revised to clarify that certain exempt dealers and advisers must comply with the monthly reporting and other requirements relating to terrorist financing and certain United Nations Act sanctions. It provides information on the new consolidated reporting form, the submission of monthly reports that may be filed by e-mail, and summary of the laws which impose the requirements.
  • CSA Staff Notice 31-315 - published February 26, 2010, announces the approval of a number of omnibus/blanket orders to address a number of unanticipated issues related to the introduction of National Instrument 31-103 - Registration Requirements and Exemptions that need to be addressed immediately.  The orders become effective on February 26, 2010. Copies of the specific orders are available on the BCSC website.

News Releases

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  • News Release 2013/46 - CSA Requirements to improve disclosure for Investors are now in effect
  • News Release 2013/20 - Canadian Securities Regulators implement disclosure requirements for investment costs and performance
  • News Release 2012/87 - Canadian Regulators Publish Consultation Paper on a Statutory Best Interest Duty
  • News Release 2009/49 - National registration regime implemented: Canadian securities regulators announce new registration rules and streamlined process for dealers and advisers [CSA]
  • News Release 2009/35 - Canadian securities regulators implement a new national registration regime [CSA]
  • News Release 2009/27 - Canadian regulators provide guidance on transition to new registration regime [CSA]
  • News Release 2008/22 - Canadian regulators propose enhancements to registration regime [CSA]
  • News Release 2007/13 - Canadian Regulators Seek Comment on Proposed Changes to Registration Regime [CSA]