What is NRD?
The National Registration Database is a web-based system that will permit dealers and advisers to file registration forms electronically. It has been designed, in consultation with industry representatives, to harmonize and improve the registration process across most of the jurisdictions of Canada.
Generally, an individual or company whose business is trading, underwriting or advising with respect to securities is required to register annually with one or more provincial securities regulators. The registration process is designed to protect the investing public by striving to ensure that only qualified and reputable individuals and firms are licensed.
The NRD is an initiative of the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO). The CSA is comprised of the securities regulators of each province and territory. Every CSA member is participating in this project.
Why was the project undertaken?
It has become apparent that the registration process in Canada can be made more efficient. Several years ago, securities regulators recognized that many of the problems with the registration process could be solved by developing an electronic system to replace the existing paper-based system. Modern information technology that has been exploited with great success across most other economic sectors could facilitate the entire process, and add new functionality that had never been possible.
A national web-based registration system would be consistent with two of the CSA’s most important long-term goals:
- to reduce the regulatory burden for capital market participants; and
- to harmonize securities regulations across jurisdictions.
For answers to other frequently asked questions about NRD, please see our FAQ section.