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Weekly Reports

Updates for the week ending January 25, 2008

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Policies and Instruments

  • BCN 2008/05 - Amendment to BC Policy 31-601 Registration Requirements (BCP 31-601) [BCN]

    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]

    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.

News and Events

  • News Release 2008/06 - Securities Passport System Implemented: Regulators Introduce Streamlined Review Policies for Passport Jurisdictions and Ontario [CSA]
  • Come visit Commission staff at the Global Chinese Financial Forum
    Burnaby, BC: February 16, 2008

Decisions, Settlements, Hearings, and Temporary Orders

  • No new documents this week.

Cease Trade Orders and Revocations

Search for cease trade orders and revocations using Canadian Securities Administrators National CTO database New window 

Exemptions and MRRS Orders