Securities Law

32-504 - Registrant disclosure of conflicts of interest [BCI - Rescinded]

Published Date: 2003-06-04
Effective Date: 2003-06-02
Rescinded Date: 2009-09-28

British Columbia Securities Commission

 

BC Instrument 32-504

 

The British Columbia Securities Commission, having considered it to be in the public interest, orders that the attached BC Instrument 32-504 entitled "Registrant disclosure of conflicts of interest” is made. 

 

 

June 2, 2003

 

 

 

 

Douglas M. Hyndman

Chair

 

 

________________________________________________________________________

(This part is for administrative purposes only and is not part of the Order)

 

Authority under which Order is made:

Act and sections:- s. 48

Other (specify):-

 


 

BC Instrument 32-504

 

Registrant disclosure of conflicts of interest

 

Order under section 48 of the Securities Act

 

1.    A registrant is exempt from section 77 of the Securities Rules if the registrant complies with either section 2 or section 3 of this instrument.

 

2.    A registrant must provide each client with a statement of policies as required by section 223 of Regulation 1015 made under the Securities Act (Ontario) as if that section applied in British Columbia.

 

3.    (1) A registrant must disclose to a client any conflict or potential conflict of interest that a reasonable client would consider important in determining the registrant’s ability to provide objective service or advice.

 

(2) The disclosure required by subsection (1) must be made to the client before the client is required to make a decision about a transaction to which the conflict or potential conflict applies.