NIN 97/01 - New and Revised Registration Forms [NIN - Rescinded]
| Published Date: | 1997-01-03 |
|---|---|
| Effective Date: | 1996-12-30 |
Transitional
Registrants are encouraged to use the new and revised forms specified in this Notice prior to January 31, 1997. However, the Executive Director will accept a current version of a form specified in this Notice provided that the form is filed prior to March 31, 1997.
Forms Required by Other Jurisdictions, Exchanges or Self Regulatory Bodies
Where a dealer, underwriter or adviser is required to file a form attached to this Notice, other than Forms 69 and 70, and has its principal place of business in Canada in a jurisdiction other than British Columbia, or is a member of an exchange or self regulatory body in Canada, the Executive Director will accept a corresponding form that is required by that jurisdiction, exchange or self regulatory body in place of the appropriate revised form attached to this Notice.
Similarly, where an individual is required to file a form attached to this Notice and acts on behalf of a dealer, underwriter or adviser described in the previous paragraph, the Executive Director will accept a corresponding form that is required by the jurisdiction in which the dealer, underwriter or adviser has its principal place of business, or by the exchange or self regulatory body of which the dealer, underwriter or adviser is a member, in place of the appropriate revised form attached to this Notice.
However, where the corresponding form required by the other jurisdiction, exchange or self regulatory body does not contain all material information required by the version of the form attached to this Notice, the Executive Director may require further information to be filed.
Forms being Respecified or Introduced
Form 3 - Application for Registration as Dealer, Adviser or Underwriter
Form 3 is a form required under section 20(2) of the Securities Act. Section 20(2) of the Securities Act requires that an application for registration as a dealer, underwriter or adviser be made to the Executive Director in the required form.
Form 4 - Uniform Application for Registration/Approval (B.C.)
Form 4 is a form required under section 20(2) of the Securities Act. Section 20(2) of the Securities Act requires that an application for registration as a salesperson; trading partner, director or officer; advising partner, director or officer; and advising employee be made to the Executive Director in the required form. In addition to individuals seeking registration, the Executive Director may require other individuals to file a Form 4, including individuals seeking approval to act as a compliance officer, branch manager or administration officer of a dealer, underwriter or adviser.
Form 4Z - Addendum to Personal Information Forms
Form 4Z is a form required under section 20(2) of the Securities Act. Form 4Z is a form by which the applicant provides consent to the Executive Director to conduct a criminal records check as part of the Executive Director's assessment of the applicant's suitability for registration or approval.
The Form 4 attached to this Notice incorporates the consent set out in Form 4Z. Therefore, an individual who files a revised Form 4 is not required to file a Form 4Z. However, where an individual files the current Form 4 or a corresponding form required by the jurisdiction where the dealer, underwriter or adviser for whom the individual carries on business has its principal place of business, or by the exchange or self regulatory body of which the dealer, underwriter or adviser is a member, the individual must file a Form 4Z if the form that is filed does not contain a declaration of consent to a criminal records check. An example of a corresponding form is Form 1-U-85, used by members of the Vancouver Stock Exchange, other exchanges and the Investment Dealers Association of Canada.
Form 7Z - Uniform Termination Notice (B.C.)
Form 7Z is a form required under sections 28(1)(b) and (c) and 28(2)(a) and (b) of the Securities Act and is a supplement to Form 7 (Application for Amendment of Registration as Dealer, Adviser or Underwriter). Sections 28(1)(b) and (c) and 28(2)(a) and (b) require every registered dealer, underwriter and adviser to file a notice in the required form of changes, including a notice of termination of the employment of a registered salesperson or advising employee and a notice of termination of the employment or office of a partner, director or officer.
Form 69 - Conflict of Interest Rules Statement
Form 69 is the form required under section 77(1) of the Securities Rules. Section 77(1) of the Securities Rules requires every registered dealer (not including a security issuer), underwriter or adviser to file a conflict of interest rules statement in the required form.
Form 70 - Statement and Undertaking
Form 70 is the required form under section 77(4) of the Securities Rules. Section 77(4) of the Securities Rules permits a registered dealer, underwriter or adviser, that does not act as an adviser, dealer or underwriter in the circumstances set out in sections 78, 79, 81, 82 or 83 of the Securities Rules to file a statement and undertaking, in the required form, instead of a conflict of interest rules statement.
Review of Required Forms
The Executive Director is continuing the process of reviewing other required forms and will be amending them to harmonize the forms with requirements of the Securities Act and Securities Rules, to remove references to the Commodity Contract Act and to reflect current practice.
Copies of New and Revised Forms
Copies of forms specified in this Notice may be requested from the Supervisor, Registration, for mailing or pick up (phone: Greater Vancouver 660-4833, all other regions of British Columbia 1-800-373-6393). There is no charge for these forms; however, only a reasonable number of copies will be distributed.
DATED at Vancouver, British Columbia, on January 3, 1997.
Paul C. Bourque
Acting Executive Director
(see hard copy for Form 3, Form 4, Form 4Z and Form 7Z)
FORM 69
Securities Act
CONFLICT OF INTEREST RULES STATEMENT
INSTRUCTIONS
Except for the circumstance described in section 77(4) of the Securities Rules (see Form 70), registered dealers (other than security issuers), underwriters and advisers must furnish a client with a copy of the Conflict of Interest Rules Statement, when the person becomes a client, and file a copy of the Conflict of Interest Rules Statement with the Commission. Where any significant change occurs in the information required by the Conflict of Interest Rules Statement, the dealer, underwriter or adviser must immediately file a revised Conflict of Interest Rules Statement with the Commission and, within 45 days, furnish a revised Conflict of Interest Rules Statement to each of its clients.
GENERAL
Under certain circumstances we may deal with or for you in securities transactions where the issuer of the securities or the other party to the transaction is a firm or a party having an ownership or business relationship with us.
Since these transactions may create a conflict between our interests and yours, we are required by provincial law to disclose to you certain relevant matters relating to the transactions. This statement contains a general description of the required disclosure. A complete statement of the rules is set out in Division 11 of Part 4 of the British Columbia Securities Rules.
IMPORTANT CONCEPTS
"Related party" - A party is related to us if, through the ownership of or direction or control over voting securities, we exercise a controlling influence over that party or that party exercises a controlling influence over us.
"Connected party" - A party is connected to us if, due to indebtedness or certain other relationships, a prospective purchaser of securities of the connected party might question our independence from that party.
"Associated party" - An associated party is either a related party or another party in a close relationship with us, such as one of our partners, salesman, directors or officers.
REQUIRED DISCLOSURE
We must make certain disclosures where we act as your broker, advise you, or exercise discretion on your behalf with respect to securities issued by us, by a related party or, in the course of an initial distribution, by a connected party. In these situations, we must disclose either our relationship with the issuer of the securities, or that we are the issuer. We must also make disclosure to you where we know or should know that, as a result of our acting as your broker or adviser, or of our exercising discretion on your behalf, securities will be purchased from or sold to us, an associated party or, in the course of an initial distribution, a connected party.
The following is a list of the time and manner in which these disclosures must be made. · Where we underwrite securities, the required disclosure will be contained in the prospectus or other document being used to qualify those securities.
· Where we buy or sell securities for your account, the required disclosure will be contained in the confirmation of trade which we prepare and send to you. · Where we advise you with respect to the purchase or sale of securities, the disclosure must be made prior to our giving the advice.
In addition, where we exercise discretion under your authority in the purchase or sale of securities for your account, we may not exercise that discretion for the types of transactions described above unless we have obtained your prior specific and informed written consent.
LIST OF RELATED PARTIES
The following is a list as of ________________________________,____ of our related parties which are reporting companies. We will provide you with a revised version of this document if the list changes.
If you have any questions, please contact
[Registrants must list all their related parties that are reporting issuers in British Columbia, or that have made a distribution of securities outside British Columbia in a manner that had they done so in British Columbia, such distribution would have made them reporting issuers in British Columbia.]
This is the form required under section 77(4) of the Securities Rules.
FORM 70
Securities Act
Statement and Undertaking
INSTRUCTIONS
Registered dealers, underwriters and advisers that do not engage in certain activities described in the conflicts of interest provisions of Division 11 of Part 4 of the Securities Rules, may file a statement and undertaking with the Commission instead of a Conflict of Interest Rules Statement, otherwise required by section 77(1) of the Securities Rules (see Form 69). The activities relate to underwriting, trading, advising, excercising discretion and making recommendations relating to securities of certain issuers.
TO: British Columbia Securities Commission
STATEMENT
The undersigned hereby confirms and represents that it does not engage in any activities as an adviser, dealer or underwriter (as those terms are defined in the British Columbia Securities Act, S.B.C. 1985, c. 83) in respect of a security in any of the circumstances set out in sections 78, 79, 81, 82 or 83 of the British Columbia Securities Rules, B.C.
Reg. 479/95.
UNDERTAKING
The undersigned hereby undertakes and agrees that it will not engage in any of the activities referred to in the paragraph above, except in compliance with the provisions of Division 11 of Part 4 of the British Columbia Securities Rules, B.C. Reg. 479/95.
Dated at _______________ this __________ day of _______________, _____.
_________________________
(Signature of Deponent)
(Signature of Deponent)