Securities Law

BCN 2007/07 - Advance Notice of Amendments to Multilateral Instrument 33-109 Registration Information, Companion Policy 33-109CP Registration Information, Multilateral Instrument 31-102 National Registration Database, and Companion Policy 31-102CP National Registration Database [BCN - Lapsed]

Published Date: 2007-02-23
Rescinded Date: 2012-05-30
Related Document(s):

Concurrently Published:

In the attached advance notice, the Canadian Securities Administrators announce the expected implementation of amendments to Multilateral Instruments 33-109 Registration Information, 31-102 National Registration Database and their related companion policies.

If the required government approval is obtained in British Columbia, we intend to make the amendments effective May 15, 2007, when the amendments are expected to come into force in all CSA jurisdictions.

When the Commission formally adopts the amendments, we also intend to make consequential amendments to the Registration Transfer Rules, B.C. Reg. 193/97. The proposed consequential amendments are attached.


February 22, 2007

 


Brent W. Aitken
Vice Chair

Ref: Multilateral Instrument 33-109 Registration Information
Companion Policy 33-109CP Registration Information
Multilateral Instrument 31-102 National Registration Database
Companion Policy 31-102CP National Registration Database
Registration Transfer Rules, B.C. Reg. 193/97


This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the section Securities Law & Policy: Policies & Instruments.

Notice of Amendments to
Multilateral Instrument 33-109 Registration Information
Companion Policy 33-109CP
Multilateral Instrument 31-102 National Registration Database
Companion Policy 31-102CP


Introduction
We, the Canadian Securities Administrators (CSA), are implementing amendments to

  • Multilateral Instrument 33-109 Registration Information (MI 33-109)
  • Companion Policy 33-109CP (CP 33-109)
  • Multilateral Instrument 31-102 National Registration Database (MI 31-102)
  • Companion Policy 31-102CP (CP 31-102)

The amendments to MI 33-109 and MI 31-102, as well as to CP 33-109 and CP 31-102 have been adopted or are expected to be adopted by each member of the CSA. Each instrument amending MI 33-109 and MI 31-102 will be implemented as a:

  • rule in British Columbia, Alberta, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward  Island, and Newfoundland and Labrador;
  • Commission regulation in Saskatchewan;
  • regulation in Nunavut and Northwest Territories
  • policy in the Yukon.

In Québec, the amending instruments have been adopted as Regulation 33-109 respecting Registration Information and Regulation 31-102 respecting National Registration Database respectively. Since MI 33-109 and MI 31-102 are not currently in force in Québec, these regulations will bring those instruments into force concurrently with the amending instruments.

Coming into force
In Ontario, the instruments amending MI 33-109 and MI 31-102 and other required materials were delivered to the Minister of Government Services on February 23, 2007. The Minister may approve or reject the amendments or return them to the Commission for further consideration. Unless the Minister rejects the amendments, or returns them to the Commission, they will come into force on May 15, 2007.

In Québec, Regulation 33-109 respecting Registration Information and Regulation 31-102 respecting National Registration Database have been made under section 331.1 of The Securities Act (Québec) and will have to be approved, with or without amendment, by the Minister of Finance. The regulations will come into force on the later of the date of their publication in the Gazette officielle du Québec and May 15, 2007. CP 33-109 and CP 31-102 have been adopted in Québec.

 
Substance and purpose of amendments
The amendments are minor housekeeping changes that will:

1. reflect Québec's participation in the National Registration Database;

2. end the confusion over the term "non-registered individual";

3. provide some relief to registrants hamstrung by two deadlines that are too short;

4. ensure the regulator is kept abreast of changes in a registrant's financial year end and its auditor; and

5. clarify the responsibilities each firm bears for the information submitted to the regulator.

Summary of written comments received by the CSA
During the comment period, we received no comments.

Summary of changes to the Amendment Instruments
Part 6 of 31-102 and Part 7 of 33-109 are changed to match exemption provisions used in other CSA instruments. These were not material changes.

Questions
Please refer your questions to any of:

David Gilkes
Manager, Registrant Regulation
Capital Markets Branch
Ontario Securities Commission
20 Queen Street West, Suite 1903, Box 55
Toronto, Ontario M5H 3S8
Direct: (416) 593-8104
Fax: (416) 593-8240
E-mail: dgilkes@osc.gov.on.ca

Martha Rafuse
Legal Counsel, Registrant Regulation
Capital Markets Branch
Ontario Securities Commission
20 Queen Street West, Suite 1903, Box 55
Toronto, Ontario M5H 3S8
Direct: (416) 593-2321
Fax: (416) 593-8240
E-mail: mrafuse@osc.gov.on.ca

Sophie Jean
Surintendance de la distribution
Autorité des marchés financiers
800 square Victoria, 22e étage
C.P. 246, Tour de la Bourse
Montréal, Québec H4Z 1G3
Téléphone: (514) 395-0558, poste 4786
Télécopieur: (514) 873-2262
Courriel: sophie.jean@lautorite.qc.ca

Isabelle Pelletier
Direction des affaires juridiques
Autorité des marchés financiers
800 square Victoria, 22e étage
C.P. 246, Tour de la Bourse
Montréal, Québec H4Z 1G3
Téléphone: (514) 395-0558, poste 2566
Télécopieur: (514) 864-6381
Courriel: isabelle.pelletier@lautorite.qc.ca

Andrew Nicholson
New Brunswick Securities Commission
85 Charlotte Street, Suite 300
Saint John, New Brunswick E2L 2J2
Direct: (506) 658-3021
Fax: (506) 658-3059
E-mail: Andrew.Nicholson@nbsc-cvmnb.ca

The text of the Instruments follow or can be found elsewhere on a CSA member website.

February 23, 2007

 

Amendments to the Registration Transfer Rules, B.C. Reg. 193/97

1 Section 1 of the Registration Transfer Rules, B.C. Reg. 193/97, is amended by repealing the definition of "non-registered individual" and substituting the following:

"permitted individual" has the meaning ascribed to that term in National Instrument 33-109 Registration Information;.

2 Sections 8 (b) and (c) are amended by replacing "non-registered individual" with "permitted individual".