Policy Definitions

The following legend provides explanatory notes for certain frequently seen types of regulatory documents.

National Instrument (NI)

A regulatory instrument in force in every Canadian Securities Administrators' jurisdiction.

Multilateral Instrument (MI)

A regulatory instrument in force in select Canadian Securities Administrators' jurisdictions.

B.C. Instrument (BCI)

A regulatory instrument (rule or blanket order) in force in British Columbia only.

Companion Policy (CP)

A policy that accompanies a national instrument, multilateral instrument or B.C. Instrument, providing guidance from the securities regulatory authorities in Canada about the interpretation and enforcement of the relevant instrument.

National Policy (NP)

A regulatory policy that provides guidance and/or clarification on any particular topic, and that is in effect in every Canadian Securities Administrators' jurisdiction.

BC Policy (BCP)

A regulatory policy that provides guidance and/or clarification on any particular topic, and that is in effect in British Columbia.

CSA Staff Notice

A notice that informs readers on Canadian Securities Administrators' staff’s position and/or staff guidance on any particular topic.

BC Notice (BCN)

A notice that informs readers on BC Securities Commission staff’s position and/or staff guidance on any particular topic.

CSA Consultation Paper

A paper that notifies and seeks feedback from readers on any particular proposed regulatory approach.

B.C. Interpretation Note

A note that provides guidance from the BC Securities Commission about the interpretation of any particular securities law issue in British Columbia.