3 - Registration Requirements and Related Matters

31-311 Proposed National Instrument 31-103 Registration Requirements and Exemptions Transition into the new registration regime [CSA Staff Notice - Rescinded]
Published June 12, 2009
Effective June 12, 2009
Rescinded/Lapsed June 21, 2012
View PDF of 31-311 CSA Staff Notice  PDF
View PDF of Appendix A  PDF
View PDF of Appendix B  PDF 

Proposed National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103) was last published for comment on February 29, 2008 and has not yet been approved by the securities regulatory authorities.  Over the next month, staff of the Canadian Securities Administrators (the CSA) will seek final approval of NI 31-103 and expect to publish it in its final form, on or about July 17, 2009.  Subject to ministerial approvals in some jurisdictions, NI 31-103 would come into force on or about September 28, 2009 (the effective date).

Accordingly, this notice only reflects what CSA staff is recommending to the relevant securities regulatory authorities and ministries.

Introduction
This notice describes how staff of the CSA and the Investment Industry Regulatory Organization (IIROC) foresee transitioning firms and individuals from the existing registration regime to the new registration regime under NI 31-103. The CSA and IIROC staff are committed to making the transition as smooth and efficient as possible for all registrants.  IIROC plans to publish its own notice regarding the conversion of registration categories as a supplement to this notice.

This notice discusses a number of issues concerning the planned implementation of NI 31-103:

  • National Registration Database (NRD) freeze period.  Subject to further notification, NRD would be shut down from 5:00 p.m. Eastern Time, September 25, 2009 to 11:59 p.m. Eastern Time, October 12, 2009.
  • Conversion.  Staff propose to convert existing categories of registration for firms and individuals to new categories of registration.  In some cases, conversion would not take place if a firm’s category of registration no longer exists under NI 31-103.  Certain designations of unregistered individuals would not be converted (see section on Conversion below for more detail).
  • Transition timelines.  Staff propose transition periods that would give sufficient time for firms and individuals to adjust to, and comply with, certain new requirements.

Read the full text of 31-311 CSA Staff Notice  PDF