Requests for Comment
Proposed Policies, Rules and Forms
The following summaries refer to all documents published for comment since July 1, 1998 that have not yet been finalized. You should not rely on these summaries, but refer to the actual policy documents. These documents may include proposed rules (some of which are adopted on a uniform basis across Canada and are known as national instruments or multilateral instruments), proposed policies, proposed forms or concept proposals.
Before finalizing a policy or rule, we generally publish the proposed document so that the securities industry and other interested people can provide comment on it. This helps us to ensure that the proposed document meets its regulatory objectives and does not have unintended consequences.
Out for Comment
BCN2009/36 - Notice of adoption as an urgent rule, and of publication for comment, of BC Instrument 81-513 Self-Dealing and elated consequential amendments
Date published: December 24, 2009
Comment period expires: March 23, 2009
This notice announces the adoption and concurrent publication for comment of BCI 81-513 Self-Dealing. This rule replaces most of the self-dealing restrictions that were previously in sections 120-122, 124, 126 and 129 of the Securities Act. The urgent rule was effective on December 23, 2009.
Proposed consequential amendments to MFDA Rules and Policy No. 6
Date published: December 23, 2009
Comment period expires: March 23, 2010
The Commission is publishing for comment for 90 days proposed consequential amendments to the following MFDA Rules and Policy resulting from National Instrument 31-103 Registration Requirements and Exemptions:
1. Rule 1.2 (Proficiency Requirements)
2. Rule 2.4.2 (Referral Arrangements)
3. Rule 2.5 (Minimum Standards of Supervision)
4. Rule 5.3 (Client Reporting)
5. Rule 5.6 (Record Retention)
6. MFDA Policy No. 6 Information Reporting Requirements
The comment period ends on March 23, 2010. Details on the process for submitting comments are included in Section V of the MFDA’s notice.
BCN2009/34 - Notice and Request for Comment - Proposed Amendments to National Instrument 51-101 Standards Of Disclosure for Oil and Gas Activities, Form 51-101F1, Form 51-101F2, Form 51-101F3 and Companion Policy 51-101CP and Proposed Consequential Amendments to Form 41-101F1 Information Required in a Prospectus [BCN]
Date published: December 18, 2009
Comment period expires: March 19, 2010
This notice requests comments on proposed amendments to National Instrument 51-101 Standards Of Disclosure for Oil and Gas Activities, its related forms and companion policy, and proposed consequential amendments to Form 41-101F1 Information Required in a Prospectus. The comment period ends on March 19, 2010.
Under Review 
TOP
BCN 2009/30 - Notice and Request for Comments - Proposed Amendments to National Instrument 24-101 Institutional Trade Matching and Settlement; Forms 24-101F1, 24-101F2 and 24-101F5; and Companion Policy 24-101CP Institutional Trade Matching and Settlement [BCN]
Date published: October 30, 2009
Comment period expired: January 28, 2010
This notice requests comment on proposed amendments to National Instrument 24-101 Institutional Trade Matching and Settlement, its related forms and companion policy.
The amendments will be published for a 90 day comment period. The comment period expires on January 28, 2010.
BCN 2009/28 - Notice and Request for Comment - Proposed Amendments to National Instrument 31-103 Registration Requirements and Exemptions, Form 31-103F1, and Companion Policy 31-103CP and Proposed Amendments to Form 33-109F6 Firm Registration
Date published: October 23, 2009
Comment period expired: January 21, 2010
This notice requests comments on proposed amendments to National Instrument 31-103 Registration Requirements and Exemptions, its related form and companion policy. The notice also requests comments on proposed amendments Form 33-109F6 Firm Registration.
The purpose of the proposed amendments is to accommodate the upcoming changeover to International Financial Reporting Standards. The comment period ends on January 21, 2010.
BCN 2009/27 - Notice and Request for Comment - Proposed Amendments to National Instrument 45-106 Prospectus and Registration Exemptions, Form 45-106F2, Form 45-106F3 and Companion Policy 45-106CP
Date published: October 16, 2009
Comment period expired: January 18, 2010
This notice requests comments on proposed amendments to National Instrument 45-106 Prospectus and Registration Exemptions, its related forms and companion policy. The purpose of the proposed amendments is to accommodate the upcoming changeover to International Financial Reporting Standards. The comment period ends on January 18, 2010.
BCN 2009/26 - Notice and Publication for Comment - Proposed Amendments to National Instrument 81-106 Investment Fund Continuous Disclosure, Form 81-106F1 and Companion Policy 81-106CP and Related Amendments
Date published: October 16, 2009
Comment period expired: January 14, 2010
This notice requests comments on proposed amendments to National Instrument 81-106 Investment Fund Continuous Disclosure, its related form and companion policy, and proposed consequential amendments relating to investment funds.
The purpose of the proposed amendments is to accommodate the upcoming changeover to International Financial Reporting Standards. The comment period ends on January 14, 2010.
BCN 2009/25 - Request for Comment - Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure and Form 81-101F2 Contents Of Annual Information Form and to National Instrument 41-101 General Prospectus Requirements and Form 41-101F2 Information Required In An Investment Fund Prospectus
Date published: October 9, 2009
Comment peroid expired: January 7, 2010
The Canadian Securities Administrators request comment about proposed amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure and Form 81-101F2 Contents Of Annual Information Form and to National Instrument 41-101 General Prospectus Requirements and Form 41-101F2 Information Required In An Investment Fund Prospectus. The proposed amendments are consequential amendments to National Instrument 23-102 Use of Client Brokerage Commissions (NI 23-102).
BCN 2009/23 - Joint Canadian Securities Administrators/ Investment Industry Regulatory Organization of Canada Consultation Paper 23-404 Dark Pools, Dark Orders, and other Developments in Market Structure in Canada [BCN]
Date published: September 30, 2009
Comment period expired: December 29, 2009
This notice requests comments on the Consultation Paper relating to Dark Pools, Dark Orders and Other Developments in Market Structure in Canada issued jointly by the Canadian Securities Administrators and Investment Industry Regulatory Organization of Canada. The Consultation Paper specifically encourages public comment on a variety of specific issues affecting the Canadian securities market, including dark liquidity pools, dark order types, pegged order types, and smart order routers interacting with dark liquidity. The comment period ends on December 29, 2009.
BCN 2009/21 - Notice and Request for Comment - Proposed Amendments to National Instrument 52-109 Certification of Disclosure In Issuers’ Annual and Interim Filings, Forms 51-109F1, 52-109FV1, 52-109F1- IPO/RTO, 52-109F2, 52-109FV2, 52-109F2 – IPO/RTO, 52-109F2R, and Companion Policy 52-109CP
Date published: September 25, 2009
Comment period expired: December 24, 2009
This notice requests comments on proposed amendments to National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, its related forms and companion policy. The purpose of the proposed amendments is to accommodate the upcoming changeover to International Financial Reporting Standards. The comment period ends on December 24, 2009.
BCN 2009/20 - Notice and Request for Comment - Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations, Forms 51-102F1, 51-102F2, 51-102F4, 51-102F5, 51-102F6, and Companion Policy 51-102CP and Proposed Amendments to National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers and Companion Policy 71-102CP
Date published: September 25, 2009
Comment period expired: December 24, 2009
This notice requests comments on proposed amendments to National Instrument 51-102 Continuous Disclosure Obligations, National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers, its related forms and companion policies. The purpose of the proposed amendments is to accommodate the upcoming changeover to International Financial Reporting Standards. The comment period ends on December 24, 2009.
BCN 2009/19 - Notice and Request for Comment - Proposed Amendments to National Instrument 41-101 General Prospectus Requirements, Form 41-101F1, and Companion Policy 41-101CP and Proposed Amendments to National Instrument 44-101 Short Form Prospectus Distributions, Form 44-101F1, and Companion Policy 44-101CP and Proposed Amendments to National Instrument 44-102 Shelf Distributions
Date published: September 25, 2009
Comment period expired: December 24, 2009
This notice requests comments on proposed amendments to National Instrument 41-101 General Prospectus Requirements, National Instrument 44-101 Short Form Prospectus Distributions, National Instrument 44-102 Shelf Distributions, its related forms and companion policies. The purpose of the proposed amendments is to accommodate the upcoming changeover to International Financial Reporting Standards. The comment period ends on December 24, 2009.
BCN 2009/18 - Notice and Publication for Comment - Proposed Repeal and Replacement of National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards and Companion Policy 52-107CP and Proposed Amendments to National Instrument 14-101 Definitions
Date published: September 25, 2009
Comment period expired: December 24, 2009
This notice requests comments on proposed amendments to National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards, and its companion policy. If adopted, these would replace the current versions of NI 52-107 and its companion policy. The notice also requests comments on proposed amendments to National instrument 14-101 Definitions.
The purpose of the proposed amendments is to accommodate the upcoming changeover to International Financial Reporting Standards. The comment period ends on December 24, 2009.
Proposed amendments to MFDA Rules of Procedure
Date published: July 31, 2009
Comment period expired: October 29, 2009
The Commission is publishing for comment for 90 days proposed amendments to the MFDA's Rules of Procedure. The comment period expires on October 29, 2009.
BCN 2009/08 - Notice and Request for Comment - Implementation of Point of Sale Disclosure for Mutual Funds
Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure, Forms 81-101F1 and 81-101F2, Companion Policy 81-101CP and Related Amendments
Date published: June 19, 2009
Comment period expired: October 17, 2009
In this notice, we are publishing for first comment proposed amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure, and a new Fund Facts disclosure form (Form 81-101F3), together with related consequential amendments that would implement a new point of sale disclosure regime for mutual funds. The related BC Notice also describes the approach that we would intend to take for various local amendments. This publication for comment reflects the principles in Framework 81-406 Point of Sale Disclosure for Mutual Funds and Segregated Funds which we published in October 2008.
Proposed amendments to section 35 of MFDA By-law No.1 (No Action against the Corporation)
Date published: June 26, 2009
Comment period expired: September 24, 2009
The Commission is publishing for comment for 90 days proposed amendments to section 35 of MFDA By-law No. 1 (No Action against the Corporation). The comment period expires on September 24, 2009.
Second Publication for comment of proposed amendment to Section 1 (Definitions) and 3 (Directors) of MFDA By-law No. 1
Date published: August 28, 2009
Comment period expired: September 21, 2009
The Commission is re-publishing proposed amendments to MFDA By-law No. 1 related to Directors to reflect changes to the transitional requirements for the MFDA's Director selection process in 2009 as determined by the MFDA's Governance Committee on August 26, 2009. We originally published the proposed amendments for comment on August 21, 2009.
The changes update the transition provisions in Section 3.3.3 of the By-law. Specifically, the changes clarify the remaining terms of office for incumbent MFDA Directors according to the recommendations made by the MFDA's Task Force on Governance Issues and as provided for in the proposed amendments. The maximum term of office, including terms served to date, is 8 years for any Director. The MFDA has advised us that the form of proposed amendments to By-law No. 1 republished with its Notice will accompany the materials to be sent to MFDA Members in connection with the special meeting of Members to be held on October 2, 2009.
As indicated when the proposed amendments were originally published for comment on August 21, 2009, the jurisdictions that recognize the MFDA (the Recognizing Regulators) approved amendments to the MFDA's By-law No. 1 related to directors in November 2008, but these were not implemented. The Recognizing Regulators will revoke their approval of those amendments and will consider the MFDA's current proposal in its entirety.
The comment period expiry date continues to be September 21, 2009. Details on the process for submitting comments are included in Section V of the MFDA’s notice.
Proposed amendments to MFDA By-law No. 1 related to Directors
Date published: August 21, 2009
Comment period expired: September 21, 2009
The MFDA is proposing amendments to its By-law No. 1 related to directors following the recommendations of the final report of its Governance Review Task Force. The jurisdictions that recognize the MFDA (the Recognizing Regulators) approved amendments to the MFDA's By-law No. 1 related to directors in November 2008, but these were not implemented. The Recognizing Regulators will revoke their approval of those amendments and will consider the MFDA's current proposal in its entirety. The MFDA is publishing its proposal for comment for 30 days. The comment period ends on September 21, 2009.
Details on the process for submitting comments are included in Section V of the MFDA’s notice.
Publication for comment of proposed amendments to MFDA Rule 2.4.1 - Payment of Commissions to Unregistered Corporations
Date published: June 19, 2009
Comment period expired: September 17, 2009
The Commission is publishing for a 90 day comment period proposed amendments to MFDA Rule 2.4.1 (Payment of Commissions to Unregistered Corporations). On December 19, 2008, the Commission (with the securities commissions in Saskatchewan, Ontario and Nova Scotia) gave notice that it had extended its suspension of Rule 2.4.1 in British Columbia until March 31, 2010, with a requirement for the MFDA to submit proposed amendments to the rule by May 31, 2009. This proposal is the MFDA's response. The comment period ends on September 17, 2009.
Amended second publication for comment of proposed amendments to MFDA Rule 2.2 (Client Accounts), Policy No. 2 - Minimum Standards for Account Supervision, Rule 2.8 (Client Communications) and Rule 5.3 (Client Reporting) to implement core principles of the Client Relationship Model
Date published: May 8, 2009
Comment period expired: July 23, 2009
The Commission is re-publishing proposed amendments to MFDA Rule 2.2 (Client Accounts), Policy No. 2 - Minimum Standards for Account Supervision, Rule 2.8 (Client Communications) and Rule 5.3 (Client Reporting) to implement core principles of the Client Relationship Model, which were published for comment on April 24, 2009, to correct a drafting error in MFDA Policy No. 2. The corrections clarify the review thresholds for branch and head office supervision under sections IV and V of the Policy. Specifically, the corrections rephrase the requirement related to the review thresholds for redemptions, both for the branch and head office levels, to correct the threshold amount and also make the threshold criteria easier to understand. The comment period expired July 23, 2009.
Second publication for comment of proposed amendments to MFDA Policy No. 3 - Handling Client Complaints
Date published: March 13, 2009
Comment period expired: May 12, 2009
The Commission is publishing proposed amendments to MFDA Policy No. 3 - Handling Client Complaints for a second comment period. The MFDA revised its proposal after consultations between the CSA, MFDA and Investment Industry Regulatory Organization of Canada (IIROC) about their complaint handling policies. The comment period expires on May 12, 2009
BCN 2008/54 - Request for Comment – Revised Corporate Governance Regime
Date published: December 19, 2008
Comment period expired: April 20, 2009
This notice publishes for comment proposed amendments to National Policy 58-201 Corporate Governance Guidelines, National Instrument 58-101 Disclosure of Corporate Governance Practices, and National Instrument 52-110 Audit Committees. The proposed governance regime includes a more principles-based policy that is broader in scope, more general disclosure requirements that would replace the current “comply or explain” disclosure model, and a more principles-based approach to determining the independence of directors. The comment period is 120 days and ends on April 20, 2009
BCN 2008/52 - Request for Comment – Proposed National Instrument 55-104 Insider Reporting Requirements and Exemptions, Companion Policy 55-104CP and related consequential amendments
Date published: December 18, 2008
Comment period expired: March 19, 2009
The CSA is publishing for comment a proposed new insider reporting rule, National Instrument 55-104 Insider Reporting Requirements and Exemptions and related amendments. The proposed new insider reporting rule, which has a number of significant changes from the current insider reporting regime, would harmonize insider reporting requirements across Canada. The comment period ends on March 19, 2009.
BCN 2008/50 - Publication for Comment of Proposed BCI 13-502 Electronic filing of reports of exempt distribution
Date published: December 10, 2008
Comment period expired: February 9, 2009
This notice announces the publication for comment of a proposed local rule to require issuers to file their reports of exempt distribution (Form 45-106F1) electronically through BCSC e-services. The comment period expires on February 9, 2009
CSA Consultation Paper 11-405 Securities Regulatory Proposals Stemming from the 2007-08 Credit Market Turmoil and its Effect on the ABCP Market in Canada
Date published: October 6, 2008
Comment period expired: February 16, 2009
The paper was originally open for public comment until December 20, 2008. 11-311 Notice of Extension of Comment Period CSA Consultation Paper 11-405 – “Securities Regulatory Proposals Stemming from the 2007-08 Credit Market Turmoil and its Effect on the ABCP Market in Canada,” published November 28, 2008, extends the end date for public comment to February 16, 2009.
The CSA is publishing CSA Consultation Paper 11-405 Securities Regulatory Proposals Stemming from the 2007-08 Credit Market Turmoil and its Effect on the ABCP Market in Canada to outline our findings, and several proposals by the CSA ABCP Working Group in response to the credit market turmoil. The paper requests comment on the proposals by December 20, 2008.
BCN 2008/48 Request for Comment Proposed Amendments to National Instrument 21-101 Marketplace Operation, Companion Policy 21-101CP, National Instrument 23-101 Trading Rules and Companion Policy 23-101CP
Date published: October 17, 2008
Comment period expired: January 15, 2009
The CSA is publishing proposed amendments to National Instrument 21-101 Marketplace Operation and National Instrument 23-101 Trading Rules and their companion policies, a summary of public comments and responses, and a cost-benefit analysis. The amendments propose trade-through protection and requirements supporting best execution. The comment period ends on January 15, 2009.
CSA Notice 81-318 - Request for Comment - Framework 81-406 Point of Sale Disclosure for Mutual Funds and Segregated Funds
Date published: October 24, 2008
Comment period expired: December 23, 2008
In CSA Notice 81-318 Request for Comment on 81-406 Point of sale disclosure for mutual funds and segregated funds, we are seeking feedback to inform us about issues relating to the implementation of 81-406 and its principles before we publish proposed changes to existing securities law requirements to reflect the principles in the Framework. The feedback or comment period will end on December 23, 2008. We will also seek further comment when we publish proposed rules to implement the principles.
Framework 81-406
This paper sets out the Framework for implementing an initiative of the Joint Forum of Financial Market Regulators for harmonized point of sale disclosure for mutual funds and segregated funds. It is updated to reflect comments we received when we published proposals for this Framework in June 2007.
Request for Comment to Proposed amendments to MFDA Rule 2.6 - Borrowing for Securities Purchases
Date published: October 3, 2008
Comment period expired: November 3, 2008
The Commission is publishing for comment proposed amendments to MFDA Rule 2.6 - Borrowing for Securities Purchases. The comment period expires on November 3, 2008.
BCN 2008/40 - Request for Comment Proposed Amendments to the MFDA's Recognition Order to Extend the Suspension of Rule 2.4.1
Date published: August 29, 2008
Comment period expired: September 29, 2008
This notice announces that the BCSC is requesting comment on the MFDA's application to extend the suspension of Rule 2.4.1 to December 31, 2010 to give it time to develop a rule to allow the payment of commissions to unregistered corporations. Comment period expires on September 29, 2008.
Proposed amendments to MFDA Rule 1.2.1 (D) (Salespersons - Dual Occupations)
Date published: June 20, 2008
Comment period expired: July 28, 2008
The Commission is publishing for comment proposed amendments to MFDA 1.2.1(d) (Salespersons - Dual Occupations). Comment period expires: July 28, 2008
Proposed amendments to MFDA Rule 2.8 (Client Communication) and Rule 5.3 (Client Reporting)
Date published: June 13, 2008
Comment period expired: September 11, 2008
The Commission is publishing for a 90 day comment period proposed amendments to MFDA Rule 2.8 - Client Communications and Rule 5.3 - Client Reporting to implement core principles of the Client Relationship Model. Comment period expires on September 11, 2008
Proposed amendments to MFDA Rule 2.2 (Client Accounts) and Policy No. 2 - Minimum Standards for Account Supervision
Date published: June 13, 2008
Comment period expired: September 11, 2008
The Commission is publishing for a 90 day comment period proposed amendments to MFDA Rule 2.2 - Client Accounts and Policy 2 - Minimum Standards for Account Supervision to implement core principles of the Client Relationship Model. Comment period expires on September 11, 2008
Proposed amendments to MFDA Bylaw No. 1, Section 25.4 (Other Instruments)
Date published: June 13, 2008
Comment period expired: July 14, 2008
The Commission is publishing for comment proposed amendments to section 25.4 of MFDA By-law No. 1 - Other Instruments. Comment period expires on July 14, 2008
Proposed Amendments to MFDA Rule 1.1.6 - MFDA Proposed Amendments to MFDA Rule 1.1.6 (Introducting and Carrying Arrangement)
Date published: May 30, 2008
Comment period expired: June 30, 2008
The Commission is publishing for comment proposed amendments to MFDA Rule 1.1.6 - Introducing and Carrying Arrangement. Comment period expires on June 30, 2008.
BCN 2008/26 - Request for Comment Proposed amendments to the MFDA's Recognition Order and the definition of "Public Director" in its Bylaw No. 1.
Date published: May 23, 2008
Comment period expired: June 23, 2008
This notice announces the CSA's notice and publication for comment of proposed amendments to the MFDA's Recognition Orders to remove the definition of "Public Director" and amendments to that definition in the MFDA's Bylaw No. 1. The comment period expires on June 23, 3008.
BCN 2008/22 - Second Request for Comments Proposed Repeal and Replacement of Multilateral Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings
Date published: April 18, 2008
Comment period expired: June 17, 2008
This notice re-publishes proposed NI 52-109, the related forms and companion policy, for a 60-day comment period. The proposed instrument, which will replace existing MI 52-109, adds new requirements for management of a non-venture issuer to certify that they have evaluated the effectiveness of internal control over financial reporting and caused the issuer to disclose any material weaknesses in its MD&A. The comment period ends on June 17, 2008
BCN 2008/20 - Request for comment on proposed National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults
Date published: March 28, 2008
Comment period expired: May 27, 2008
This policy provides guidance on how CSA will generally respond to certain types of continuous disclosure defaults. The policy describes the criteria the CSA regulators will apply when assessing whether to issue a general CTO or an MCTO, what an issuer needs to include in its application for an MCTO, and what information an issuer must file during the period of an MCTO to support informed trading. The policy will replace CSA Staff Notice 57-301 - Failing to File Financial Statements on Time - Management Cease Trade Orders.
CSA members are publishing the policy for a 60-day comment period to expire on May 27, 2008.
BC Notice 2008/09 - Request for Comment - Proposed Repeal and Substitution of Form 51-102F6 Statement of Executive Compensation and proposed consequential amendments to National Instrument 51-102 Continuous Disclosure Obligations, and Form 51-102F5 Information Circular [BCN]
Date published: February 22, 2008
Comment period expired: April 22, 2008
The Commission, together with other members of the CSA, is seeking second comment on the proposed repeal and substitution of Form 51-102F6 Statement of Executive Compensation. The revised proposed Form 51-102F6 reflects changes we have made in response to comments received in the comment period following publication of the proposed Form 51-102F6 on March 29, 2007 (BCN 2007/14).
In this CSA notice, the CSA is also publishing for comment other proposed consequential amendments to NI 51-102 Continuous Disclosure Obligations and Form 51-102F5 Information Circular.
CSA Concept Paper 52-402- Possible changes to securities rules relating to International Financial Reporting Standards [CSA Concept Paper]
Date published: February 13, 2008
Comment period expired: April 13, 2008
The CSA is publishing CSA Concept Paper 52-402 Possible changes to securities rules relating to International Financial Reporting Standards to set out three areas of possible changes to securities rules - use of IFRS by domestic issuers prior to 2011, use of US GAAP by domestic issuers, and reference to IFRS instead of Canadian GAAP. The paper requests market participants to comment on the possible changes by April 13, 2008
View comments received on CSA Concept Paper 52-402.
BC Notice 2008/01 - Request for Comment Proposed National Instrument 23-102 Use of Client Brokerage Commissions as Payment for Order Execution Services or Research Services and Companion Policy 23-102CP
Date published: January 11, 2008
Comment period expired: April 10, 2008
This notice announces the CSA's notice and publication for comment of proposed amendments to a proposed rule to regulate the use by advisers of client brokerage commissions as payment for order execution services or research services. The comment period expires on April 10, 2008.
BCN 2008/12 - Notice and Request for Comment Joint Application of Canadian Investor Protection Fund and the Investment Dealers Association of Canada
Date published: March 7, 2008
Comment period expired: April 7, 2008
The BCSC and other CSA jurisdictions are publishing for comment approval of the recognition order for the Canadian Investor Protection Fund (CIPF) to continue as a compensation fund, as well as a revised Memorandum of Understanding between members of the CSA and the CIPF, that outlines the revised responsibilities of the CIPF. Comments received on or before April 7, 2008 will be considered.
BC Notice 2008/05 - Amendment to BC Policy 31-601 Registration Requirements (BCP 31-601)
Date published: January 22, 2008
Comment period expired: March 26, 2008
Parts 2 and 9 [Limited Dealer - Exchange Contracts Dealer] of BC Policy 31-601 Registration Requirements are amended to reflect our current policy position that persons seeking to trade in foreign exchange contracts or 'forex' must register with the Investment Dealers Association of Canada (Pacific District) (IDA) as investment dealers and not with the BC Securities Commission as exchange contract dealers.
BCN 2008/06 - Adoption of Multilateral Instrument 11-102 Passport System and related companion policy, and related consequential amendments, including adoption of National Instrument 52-110 Audit Committees, related forms and companion policy, and repeal of British Columbia Instrument 52-509 Audit Committees, and Sections 144 and 145 of the Securities Rules, Adoption of National Policy 11-202 Process for Prospectus Reviews in Multiple Jurisdictions, and National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions, Rescission of National Policy 12-201 Mutual Reliance Review System for Exemptive Relief Applications, and National Policy 43-201 Mutual Reliance Review System for Prospectuses [BCN]
Date published: January 25, 2008
Comment period expired: February 25, 2008
This BC notice announces the expected implementation, effective March 17, 2008, of Multilateral Instrument 11-102 Passport System and its related companion policy in passport jurisdictions,
National Policy 11-202 Process for Prospectus Reviews in Multiple Jurisdictions and National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions in all CSA jurisdictions, and consequential amendments to a number of national instruments and policies to, among other things, harmonize various British Columbia requirements with those in other CSA jurisdictions.
This will implement the next phase of the passport system for issuers and the necessary interfaces between the passport jurisdictions and Ontario.
The BC notice also announces the expected implementation, effective March 17, 2008, of National Instrument 52-110 Audit Committees, its related companion policy and forms in British Columbia, incorporating consequential amendments expected to be adopted in other CSA jurisdictions, and the repeal of British Columbia Instrument 52-509 Audit Committees.
Finally, the BC notice requests comments by February 25, 2008 on three BC Instruments. The BC Instruments are designed to give persons that obtained a discretionary exemption from Multilateral Instrument 52-110 Audit Committees and certain provisions of National Instrument 58-101 Disclosure of Corporate Governance Practices and National Instrument 81-104 Commodity Pools in another Canadian jurisdiction before March 17, 2008 an equivalent exemption in British Columbia. The purpose of the exemptions is to put these persons in the same position in British Columbia as elsewhere in Canada when the commission adopts NI 52-110 and the consequential amendments to NI 58-101 and NI 84-101.
BC Notice 2007/39 - Proposed Housekeeping Amendments to National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI) and Forms 55-102F1 Insider Profile, 55-102F2 Insider Report, 55-102F3 Issuer Profile Supplement, and 55-102F6 Insider Report
Date published: December 7, 2007
Comment period expired: February 8, 2008
This notice announces the publication of a CSA notice of request for comment on proposed housekeeping amendments to NI 55-102 and related forms. The proposed amendments complement the recent changes made to the SEDI filing system to improve and streamline the insider report filing process. The comment period expires on February 5, 2008.
Proposed amendments to Rule C.2.04 and Rule C.2.05 - Execution of Opening Trades and Rule C.2.08 and Rule C.2.09 - Odd Lot Trading
Date published: November 13, 2007
Comment period expired: December 13, 2007
The Commission is publishing for comment proposed amendments to Rule C.2.04 and Rule C.2.05 - Execution of Opening Trades and Rule C.2.08 and Rule C.2.09 - Odd Lot Trading
Proposed framework 81-406 - Point of sale disclosure for mutual funds and segregated funds
Date published: June 15, 2007
Comment period expired: October 15, 2007
This CSA notice describes the Joint Forum of Financial Market Regulators' proposals for a new point of sale disclosure system for mutual funds and segregated funds. This new system would require fund companies to prepare a short point of sale disclosure document, and would require dealers to deliver that point of sale document to an investor at or before the time the investor buys the mutual fund. The Joint Forum is seeking comment on the proposed approach at this time. Once we have finalized the approach, the CSA will publish formal rules for comment.
BC Notice 2007/22 - Request for Comment Proposed Amendments to National Instrument 81-106 Investment Fund Continuous Disclosure, Form 81-106F1 and Companion Policy 81-106CP Investment Fund Continuous Disclosure and Related Amendments
Date published: June 1, 2007
Comment period expired: August 31, 2007
The CSA is publishing for comment proposed amendments to National Instrument 81-106 Investment Fund Continuous Disclosure and related instruments. The proposed amendments address changes that are necessary because of the introduction of s. 3855 to the CICA handbook. These changes relate to how an investment fund values its securities for determining, for example, a fund's net asset value for purposes other than in a fund's financial statements. We are also proposing a number of other housekeeping changes.
BC Notice 2007/19 - Request for comment Proposed Amendments to National Instrument 21-101 Marketplace Operation and National Instrument 23-101 Trading Rules and related Universal Market Integrity Rules
Date Published: April 20, 2007
Comment period expired: July 19, 2007
This notice announces the publication of a CSA/RS joint notice requesting comment on a trade-through proposal and proposed amendments to the alternative trading system rules to among other things, more broadly describe the factors to be considered in seeking best execution and establish requirements for non-dealers to gain access to a marketplace. The comment period expired on July 19, 2007.
BC Notice 2007/17 - Request for Comment on Proposed Repeal and Replacement of Multilateral Instrument 52-109, Forms 52-109F1,
52-109FT1, 52-109F2 and 52-109FT1 and Companion Policy 52-109CP Certification of Disclosure in Issuers' Annual and Interim Filings
Date Published: March 30, 2007
Comment period expired: June 28, 2007
This notice publishes for comment a revised and restated NI 52-109, the related forms and companion policy. The proposed instrument adds new requirements for management of an issuer to certify that they have evaluated the effectiveness of internal control over financial reporting and caused the issuer to disclose any reportable deficiencies in its MD&A. The comment period ends on June 28, 2007.
CSA Staff Notice 21-306 - Notice of Filing of Forms 21-101F5 Initial Operation Report For Information Processor
Date Published: April 20, 2007
Comment period expired: June 4, 2007
This CSA staff notice requests comments from market participants on the attached summary of applications for the information processor role and to solicit feedback on a number of specific issues. The comment period expires on June 4, 2007
BC Notice 2007/13 - Request for Comment on Proposed Multilateral Instrument 52-110 Audit Committees, Form 52-110F1 Audit Committee Information required in an AIF, Form 52-110F2 Disclosure by Venture Issuers, Companion Policy 52-110CP to Multilateral Instrument 52-110 Audit Committees and Proposed BC Instrument 52-51* Transitional Variation of Multilateral Instrument 52-110 and Repeal of BC Instrument 52-509 Audit Committees and Sections 144 and 145 of Securities Rules
Date Published: March 28, 2007
Comment period expired: May 28, 2007
Proposed MI 52-110, its related forms and companion policy, BCI 52-51*, and the related repeal of BCI 52-509 will harmonize British Columbia audit committee requirements with those of other jurisdictions. Sections 144 and 145 of the Securities Rules link the fee schedule and the continuous disclosure rules. We propose to repeal them because we will be seeking amendments to the fee schedule to make these sections unnecessary and ensure all continuous disclosure requirements are in the harmonized rules. Comments received by May 28, 2007 will be considered.
Proposed Amendments to National Policy 41-201 - Income Trusts and Other Indirect Offerings
Date published: January 5, 2007
Comment period expired: March 6, 2007
The Commission, together with other members of the Canadian Securities Administrators, are publishing for comment proposed amendments to the Policy that would provide additional clarification and guidance on our views about issues relating to income trusts and other indirect offerings
Proposed National Policy 12-202 - Revocation of a Compliance-related Cease Trade Order
Date published: January 5, 2007
Comment period expired: March 6, 2007
This policy provides guidance for issuers subject to a cease trade order, explains the factors the regulators will consider when evaluating an application for a full or partial revocation of a cease trade order, and harmonizes and streamlines review procedures among the CSA.
BC Notice 2006/28 - Publication for Comment of proposed amendments to Securities Rules relating to Bill 20
Date published: December 8, 2006
Comment period expired: February 7, 2007
This notice requests comments on proposed amendments to the Securities Rules relating to provisions awaiting proclamation in Bill 20. The amendments deal primarily with the insider trading and penalty calculation changes in Bill 20.
BC Notice 2006/17 - Request for Comment Proposed amendments to National Instrument 21-101 Marketplace Operation and Companion Policy 21-101CP and National Instrument 23-101 Trading Rules [BCN]
Date published: August 11, 2006
Comment period expired: October 12, 2006
This notice announces the publication for comment of proposed amendments to clarify alternative trading system rules to among other things, deal with the impending expiry of current exemptions from transparency requirements for government debt securities and from electronic audit trail requirements. The comment period expires on October 12, 2006.
BC Notice 2005/53 - Notice of adoption of BC Instrument 45-524 Registration and Prospectus Exemption for Certain Capital Accumulation Plans and publication for comment of Proposed amendments to National Instrument 45-106 Prospectus and Registration Exemptions to incorporate the capital accumulation plans exemption
Date published: October 21, 2005
Comment period expired: January 19, 2006
This notice announces the adoption of interim BC Instrument 45-524 Registration and Prospectus Exemption for Certain Capital Accumulation Plans, and the publication for comment of proposed amendments to National Instrument 45-106 Prospectus and Registration Exemptions to incorporate the registration and prospectus exemption for capital accumulation plans into rule.
BC Notice 2005/08 - BCSC Comments on Proposed Multilateral Instrument 52-111 Reporting on Internal Control over Financial Reporting
Date published: February 4, 2005
Comment period expired: June 30, 2005
Comment letters on 52-111
This Notice contains the Commission’s comments on proposed MI 52-111, published for comment by other CSA jurisdictions on February 4, 2005. The Commission is proposing not to adopt the rule. Market participants are encouraged to comment on proposed MI 52-111 and in doing so to consider the Commission’s reasons for not adopting the rule.
The comment period on the following proposed documents has expired, but the proposed documents have not yet been republished for further comment or adopted.