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Weekly Reports

Updates for the week ending December 18, 2009

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Policies and Instruments

  • CSA Staff Notice 62-305 - Varying the Terms of Take-Over Bids

    This notice provides staff’s view on negative variations by an offeror in a formal take-over bid.
     
  • Amendments to MFDA Policy No. 3 Complaint Handling Supervisory Investigation and Internal Discipline and Responses of the MFDA

    This Notice announces that the BCSC has not objected to the MFDA’s proposed amendments to its Policy 3 - Complaint Handling, Supervisory Investigations and Internal Discipline and related amendments to other MFDA rules. The amendments provide guidance about MFDA members’ obligations in handling client complaints and in subsequent supervisory investigations in order to ensure fair and prompt handling of such complaints. They also harmonize the MFDA’s complaint handling requirements with those of IIROC and the CSA.  The BCSC published the amendments for comment on its website on May 13, 2009.  The MFDA received 14 comment letters on the proposal.  A summary of the comments and the MFDA's responses are attached to this Notice.
     
  • CSA Staff Notice 31-313 - NI 31-103 Registration Requirements and Exemptions and Related Instruments Frequently Asked Questions as of December 18, 2009 [CSA Staff Notice]

    The instrument and related amendments harmonize, streamline and modernize registration requirements across Canada for firms and individuals who sell securities, offer investment advice or manage investment funds.  The purpose of these FAQs is to answer common questions and help those working with these instruments to understand and comply with them.
     
  • BC Notice 2009/33 - Notice of Technical Corrections to Amendments to National Instrument 23-101 Trading Rules

    The BCSC, with the CSA, is publishing a technical correction to the proposed amendments to National Instrument 23-101 Trading Rules. The CSA intended to implement on January 28, 2010, a prohibition on intentionally locking or crossing a market. However, the version of NI 23-101 and 23-101CP the CSA published as advance notice on November 13, 2009, contained drafting that did not implement this intention. The correction addresses this drafting error.
     
  • BC Notice 2009/34 - 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

    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.
     
  • BC Notice 2009/35 - Memorandum of Understanding for Oversight of Exchanges and Quotation and Trade Reporting Systems

    The Commission is publishing a revised memorandum of understanding between the Canadian Securities Administrators for exchange and quotation trade reporting system oversight. It replaces an earlier MOU signed on September 3, 2002.

News and Events

  • News release 2009/71 - BCSC permanently bans man who raised millions for Forex trading
  • News release 2009/72 - Canadian securities regulators publish responses to frequently asked questions about the new national registration regime [CSA]
  • News release 2009/73 - Canadian securities regulators take steps to improve oil and gas disclosure [CSA]
  • News release 2009/74 - CSA’s web-based tool allows investors to search registration of securities industry participants across multiple Canadian jurisdictions [CSA]

Decisions, Settlements, Hearings, and Temporary Orders (Enforcement)

Cease Trade Orders and Revocations (Failure to File)

Exemption Orders