Securities Law

BCN 2012/03 - Notice of and Request for Comment on Proposed Multilateral Policy 31-202 Registration Requirement for Investment Fund Managers and Proposed Amendments to Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations [BCN - Lapsed]

Published Date: 2012-02-10
Rescinded Date: 2012-07-05
Related Document(s):

Concurrently Published:

In the attached notice, securities regulators in British Columbia, Alberta, Saskatchewan, Manitoba, Prince Edward Island, Nova Scotia, Northwest Territories, Yukon and Nunavut are publishing for comment proposed Multilateral Policy 31-202 Registration Requirement for Investment Fund Managers and proposed amendments to Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, relating to the registration of investment fund managers in these jurisdictions.

Under the Policy, an investment fund manager is only required to register in British Columbia if it directs the business, operations or affairs of the investment fund in British Columbia. The Policy sets out guidance regarding the activities of an investment fund manager relating to oversight of a fund that would trigger registration. Registration in those circumstances is directed at enhancing the regulatory regime for operating and managing a fund.

Regardless of whether there is a registered investment fund manager, the current dealer registration and prospectus requirements address risks to investors associated with an investment in a fund.

The securities regulators in Ontario, Quebec, New Brunswick and Newfoundland and Labrador, are publishing under separate notice a multilateral instrument and multilateral companion policy, relating to the investment fund manager registration requirement in those jurisdictions.

Questions

You may refer questions to:

Lindy Bremner
Senior Legal Counsel, Capital Markets Regulation
British Columbia Securities Commission
(604) 899-6678
(800) 373-6393 (toll free across Canada)

Mark Wang
Manager, Legal Services
British Columbia Securities Commission
(604) 899-6658
(800) 373-6393 (toll free across Canada)


February 10, 2012

 


Brenda M. Leong
Chair