For Immediate ReleaseDecember 5, 2013
Montréal – The Canadian Securities Administrators (CSA) are seeking public comment on proposals to amend the regulatory framework for firms and individuals who trade in securities, provide investment advice or manage investment funds. The regulatory framework for registrants is contained in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) and related instruments (collectively, the National Registration Rules).
“Both investors and industry participants will benefit from the proposed amendments, which include general improvements to the registrant regulatory framework as well as address specific problems identified during the monitoring of the application of the National Registration Rules,” said Bill Rice, Chair of the CSA and President and Chief Executive Officer of the Alberta Securities Commission. “The proposed amendments aim to improve compliance and investor protection by bringing further clarity to regulators’ expectations for registrants operating under National Registration Rules.”
The CSA introduced the National Registration Rules in 2009 as a means to harmonize, modernize and streamline registration policies across Canada. Since implementation, the CSA have monitored the operation of the National Registration Rules and maintained an ongoing dialogue with registrants The proposed amendments, which range from technical adjustments to more substantive matters, are the latest result of this ongoing monitoring and dialogue, and aim to increase overall efficiency.
The proposals contain several key amendments that aim to:
For more information on these amendments, please refer to the CSA Notice. Copies of the proposed changes to the National Registration Rules are available on the websites of CSA members. The comment period is open until March 5, 2014.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Sylvain ThébergeAutorité des marchés financiers514-940-2176
Mark DickeyAlberta Securities Commission403-297-4481
Richard GilhooleyBritish Columbia Securities Commission604-899-6713
Carolyn Shaw-RimmingtonOntario Securities Commission416-593-2361
Kevan HannahManitoba Securities Commission204-945-1513
Wendy Connors-BeckettFinancial and Consumer ServicesCommissionNew Brunswick506-643-7745
Tanya WiltshireNova Scotia Securities Commission902-424-8586
Janice CallbeckPEI Securities OfficeOffice of the Attorney General902-368-6288
Doug ConnollyFinancial Services Regulation Div.Newfoundland and Labrador709-729-2594
Rhonda HorteOffice of the Yukon Superintendent ofsecurities867-667-5466
Louis ArkiNunavut Securities Office867-975-6587
Donn MacDougallNorthwest TerritoriesSecurities Office867-920-8984
Daniela MachucaFinancial and Consumer AffairsAuthority of Saskatchewan306-798-4160
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