How do I become registered in Saskatchewan?
How long can I be out of the industry before I have to rewrite the exams?
How do I find out if someone is registered?
Has my registration been approved?
How do I transfer my registration from one firm to another?
How do I do block transfers of my clients from one dealer to another?
What do I have to do to sell GIC's
How do I get registered if I don't live or have an office in Saskatchewan?
I am registered with a dealer in Saskatchewan. Can I deal with a person who resides in or is temporarily
present in the United States?
I am registered as a broker-dealer in the United States. Can I deal with a person who resides in or is present in
Saskatchewan?
Can I have another job if I am registered?
What happens if I am registered and I declare bankruptcy?
As a registered salesperson can I sell securities which are exempt from the normal registration requirements?
What are the requirements to sell Labour Sponsored Venture Capital Funds?
Q: How do I become registered in Saskatchewan?
A: You must successfully complete the Canadian Securities Course if you want to sell securities in general. If you want to sell mutual funds you must complete the Investment Funds Course or another approved course. You must also be employed
by a company that is registered with the Saskatchewan Securities Commission. The fee for registration of salespeople is $250. For more details refer to the salesperson provisions of the
Registration Checklists on the Registration page.
Multilateral
Instrument 31-102 National Registration Database
requires that individuals applying for registration submit their
applications through the
National Registration
Database.
Q: How long can I be out of the industry before I have to rewrite the exams?
A: Staff Notice 34-702
Rewriting of Proficiency Examinations sets out all of the details.
Q: Has my registration been approved?
A: Check our database at Registrant's Search
Q: How do I find out if someone is registered?
A: You can search for this information at Registrant's Search. Or you can call the Securities
Division at (306) 787-5645 and ask for the registration branch.
Q: I am registered with a dealer in Saskatchewan. Can I deal with a person who resides in or is
temporarily present in the United States?
You will have to comply with both federal and state laws in the United States if you intend to deal with someone who lives there or is temporarily present there.
If you are licensed with a mutual fund dealer, the Investment Funds Institute of Canada's Web site has a good summary of the applicable laws at
www.ific.ca
which is regularly
updated.
Q: I am registered as a broker-dealer in the United States. Can I deal with a person who resides in or is present
in Saskatchewan?
A: National Instrument 35-101
Conditional Exemption from Registration for United States Broker-dealers and Agents provides U.S. broker-dealers and their agents with a conditional exemption from the applicable
registration and prospectus requirements under Canadian securities legislation.
Q: I wish to transfer my registration from one dealer to another. What is the procedure?
A: Staff Notice
33-702 Transfer of Registration sets out all of the details.
Q: How do I block transfer my clients from one dealer to another?
A: In order that the client's accounts are handled properly and not simply transferred at the sole discretion of either the dealer or the salesperson, we require that the client provides express consent for the transfer of his account to another
dealer. This consent may be obtained verbally or in writing by either the delivering dealer or the receiving dealer. The Mutual Fund Dealers Association also has requirements for the transfer of accounts that must be followed.
Q: What happens if I am registered and I declare bankruptcy?
A:
Policy Statement 34-601
Procedure Individual Registrants Become in Financial Difficulty
sets out the procedure.
Q: What do I have to do to sell GIC's
(Guaranteed investment certificates)?
A: In order to sell GIC's as an agent for a financial institution such as a trust company or a bank, you will have to comply with the requirements set out in the
Deposit Agent Rules.
Local Instrument 32-501 Deposit
Agents will come into force on October 1, 2006
Q: How do I get registered if I don't live or have an office in Saskatchewan?
A: The Commission will register non-resident dealers and advisers if they comply with GRO 35-901
Non Resident Registrants. It will register non-resident individuals if they comply
with Local Policy Statement 35-601
Registration of Non-Resident Individuals.
Q: Can I have another job if I am registered?
A: Section 41 of The Securities Regulations permits a salesperson to carry on another business activity, provided that it doesn't conflict with the individuals' duties as a salesperson. The salesperson must also notify his or her dealer of
the intended business activity, and obtain the dealer's written approval.
If you are licensed with a mutual fund dealer,
the Mutual Fund Dealers Association
has additional requirements. If you are licensed with an
investment dealer, the Investment
Dealers Association as requirements as well.
Q: As a registered salesperson can I sell securities
that are exempt from the normal registration requirements?
A: Saskatchewan Local Instrument 33-502
Requirements for Sale of Certain Securities imposes requirements on registrants selling securities under certain statutory exemptions.
Q: What are the requirements to sell Labour Sponsored Venture Capital Funds?
A: A salesperson employed by an investment dealer or a mutual fund dealer may sell securities of Labour Sponsored Venture Capital Funds, provided they comply with the requirements set out in
Saskatchewan Local Instrument 33-502
Requirements for Sale of Certain Securities.
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