The British Columbia Legislature passed a modern, innovative Securities Act in 2004, but the government has not yet brought it into force. The government initially delayed implementing the act to give industry more time to prepare for the changes. Since then, provinces and territories have made significant progress toward the passport system.
In February 2006, the BCSC recommended that the government further defer bringing the 2004 act into force. This allowed us to devote full attention to working with other provincial securities regulators to develop the regulatory passport system with harmonized and streamlined legislation. The government agreed with the recommendation and deferred implementing the 2004 act.
The 2004 British Columbia Securities Act was designed to provide industry with a streamlined and simplified rulebook, written in plain language. It places greater emphasis on establishing clear principles and replaces detailed and prescriptive rules with an outcomes-based approach that supports a responsive and flexible regulatory system.
Although the 2004 act is not in force, the BCSC has moved ahead with changing our regulatory processes and approach in much the same way we would have done under the 2004 act. Our goal remains to achieve a simplified regulatory system that provides better protection for investors and is less burdensome for market participants. We now aim to fulfill this goal through our work with other regulators and governments on the passport system and harmonized legislation.
You can access the BC instruments and forms that were proposed under the 2004 legislation below.
History of the 2004 BC Securities Act, S.B.C 2004, c. 43
- Securities laws to be harmonized across Canada, February 2006
- Submission to The IDA Task Force to Modernize Securities Legislation in Canada, October 2005
- Moving ahead, March 2005
- Delay of legislation, November 2004
- Amendments to new Securities Act, November 2004
- Advance notice of rules, guides & instruments, October 2004
- Regulations, rules, guides, fees, & forms for comment, June - August 2004
- New legislation, May 2004
- BC model, April 2003
- New proposals for mutual fund regulation, November 2002
- New proposals for securities regulation, June 2002
- New concepts for securities regulation, February 2002
- Regulatory impact analyses
Securities laws to be harmonized across Canada, February 2006
Submission to The IDA Task Force to Modernize Securities Legislation in Canada, October 2005
Moving ahead, March 2005
Delay of legislation, November 2004
Amendments to new Securities Act, November 2004
Advance notice of rules, guides, & instruments, October 2004
- BC Notice 2004/37 - Advance Notice Rules to Implement the New Securities Act and related Guides
Publication for comment of regulations, rules, guides, fees, & forms, June - August 2004 
TOP
- BC Notice 2004/34 - Publication for Comment of Proposed Regulation under the New Securities Act
- BC Notice 2004/33 - Publication for Comment of Proposed Fee Schedule for the New Securities Act
- BC Notice 2004/32 - Publication for Comment of Forms and Guides Related to the New Securities Act, June 25, 2004
- BC Notice 2004/31 - Publication for Comment of Rules and Instruments to Implement the New Securities Act, June 21, 2004
- Comments
New legislation, May 2004 TOP
BC model, April 2003 TOP
New proposals for mutual fund regulation, November 2002 TOP
New proposals for securities regulation, June 2002 TOP
New concepts for securities regulation, February 2002 TOP
Regulatory impact analyses TOP
