33-514 - Exemption from capital, bonding and financial reporting requirements for certain portfolio managers and investment counsel [BCI - Rescinded]
| Published Date: | 2004-03-31 |
|---|---|
| Effective Date: | 2004-03-30 |
| Rescinded Date: | 2009-09-28 |
British Columbia Securities Commission
BC Instrument 33-514
The Executive Director, having considered it to be in the public interest, orders that the attached BC Instrument 33-514 entitled “Exemption from capital, bonding and financial reporting requirements for certain portfolio managers and investment counsel” is made.
March 30, 2004
Steve Wilson
Executive Director
(This part is for administrative purposes only and is not part of the Order)
Authority under which Order is made:
Act and sections:- Securities Act, section 48(1)
Other (specify):-
BC Instrument 33-514
Exemption from capital, bonding and financial reporting requirements for certain portfolio managers and investment counsel
Order under section 48(1) of the Securities Act
Relief
A portfolio manager or investment counsel is exempt from sections 20, 21, 41(1)(c), 41(2), and 69 of the Securities Rules if
(a) its head office is in the United States of America, it is registered by the Securities and Exchange Commission as an investment adviser, and it complies with the capital, bonding, and financial filing requirements under the Investment Advisers Act of 1940, or
(b) its head office is in another province of Canada, it is registered by the securities regulatory authority of that province as a portfolio manager or investment counsel, and it complies with the capital, bonding, and financial filing requirements under the securities legislation of that province.