NIN 99/20 - Streamlining Initiative to Reduce Regulatory Burdens Request for Input [NIN - Rescinded]

One of the Commission’s strategic objectives in its Strategic Plan for 1999-2002 is to streamline securities regulation. This objective includes simplifying or eliminating requirements of the securities legislation and Commission policy where the public policy benefit of the requirement does not warrant the cost to comply.

Commission policies that have been in place for a long time are being reviewed to see if they are still necessary. For example, as set out in NIN#99/19, and as a first step, the Commission has rescinded six local policy statements (LPS 3-01, 3-03, 3-21, 3-25, 3-31 and 3-41). Commission staff are continuing to review other local policy statements to determine whether it would be appropriate to repeal or amend them.

Commission staff will also be looking for opportunities for blanket orders and rule amendments to reduce the need for individual applications for relief.

The Commission is interested in receiving input from all industry participants, including registrants, issuers, mutual fund managers, lawyers, accountants, professional engineers and technology, biomedical and mining associations on:

1. what you consider to be the top five excessive or unnecessary regulatory burdens, in order of significance;

2. frequently encountered types of transactions or circumstances, in order of significance, where a blanket order or rule would significantly reduce the need for individual applications for relief; and

3. other areas where streamlining would improve market efficiency with little or no impact on investor protection or public confidence in the capital markets.

The Commission encourages you to work with other interested persons in identifying regulatory requirements that Commission staff should consider as part of our streamlining initiative. Interested persons are encouraged to direct written submissions to

Brenda Benham
Director
Policy and Legislation
British Columbia Securities Commission
200-865 Hornby Street
Vancouver, BC V6Z 2H4
E-mail: bbenham@bcsc.bc.ca

Comment letters submitted are placed in a public file and form part of the public record, unless confidentiality is requested. Although comment letters requesting confidentiality will not be placed on the public file, freedom of information legislation may require the Commission to make comment letters available. Persons submitting comment letters should therefore be aware that the press and members of the public may be able to obtain access to any comment letter.

DATED at Vancouver, British Columbia, on June 24, 1999

Douglas M. Hyndman
Chair

Ref: NIN#99/19
LPS 3-01
LPS 3-03
LPS 3-21
LPS 3-25
LPS 3-31
LPS 3-41