Securities Law

31-103CP - Registration Requirements [CP Proposed - Lapsed]

Published Date: 2007-02-20
Document(s):

Concurrently Published:

Table of Contents

Part 1 Definitions and Interpretation 3
1.1 Definitions 3
1.2 Exchange contracts 3
1.3 Business trigger 3
1.4 Applying the  'in the business' factors 5

Part 2 Categories of Registration 7
2.1 General 7
2.2 Dealing in securities 8
2.3 Dealing in securities - exemption for advisers 8
2.4 Advising in securities 8
2.5 Associate advising representative 9
2.6 Managing investment funds 10
2.7 Chief compliance officer and ultimate designated person 10
2.8 Multiple registrations 11

Part 3 SRO membership 11
3.1 Requirement for SRO membership 11

Part 4 Fit and proper requirements 12
4.1 General 12
4.2 Application of proficiency requirements 13
4.3 Exam-based proficiency requirement 13
4.4 Relevant experience 13
4.5 Restricted dealer and restricted adviser - proficiency for representatives 14
4.6 Registrant bankruptcy or insolvency 14
4.7 Financial records 14

Part 5 Conduct rules 15
5.1 Outsourcing 15
5.2 Know-Your-Client 15
5.3 Suitability of investment 16
5.4 Leverage disclosure 16
5.5 Relationship disclosure document 17
5.6 Recordkeeping - general 18
5.7 Retention of records 18
5.8 Third party access to records 19
5.9 Compliance and recordkeeping 19
5.10 Account opening and recordkeeping 19
5.11 Compliance system 20
5.12 Client complaints 22
5.13 Non-resident registrants 23

Part 6 Conflicts 23
6.1 Definition of conflict of interest 23
6.2 Dealing with conflicts of interest 24
6.3 Avoiding conflicts of interest 24
6.4 Controlling conflicts of interest 24
6.5 Disclosing conflicts of interest 26
6.6 Other legal considerations 27
6.7 Fairness in allocation of investment opportunities 27
6.8 Acquisition of securities or assets of a registrant 27
6.9 Relationship pricing 27
6.10 Referral arrangements 28

Part 7 Suspension and Revocation of registration 30
7.1 General 30
7.2 Transfer or termination of a registrant's employment 31
7.3 Automatic suspension 31
7.4 Automatic reinstatement 31
7.5 Surrender of registration 32

Part 8 Exemptions from registration 33
8.1 Mobility exemption 33