Notice

General Ruling/Order 35-901 Non-Resident Registrants amended

On February 23, 2005 the Director of the Securities Division of the Saskatchewan Financial Services Commission amended General Ruling/Order 35-901Non-Resident Registrants (“GRO 35-901”).   

GRO 35-901 exempts investment dealers, mutual fund dealers and advisers from the requirement to maintain a business office and books and records in Saskatchewan on certain conditions.

GRO 35-901 was amended so that the following restrictions no longer apply to mutual fund dealers:

• that the mutual fund dealer sells only units or shares of mutual funds for which there is no commission paid by an investor;
   

• that the mutual fund dealer does not solicit orders from Saskatchewan investors other than by general advertising in newspapers or other media; and
   

• that the mutual fund dealer pays its salespersons on a salary basis only, and pays them no other form of compensation related to the selling of mutual funds.

February 25, 2005

Contact:

Dean Murrison
Deputy Director, Legal and Registration
Securities Division
Saskatchewan Financial Services Commission
(306) 787-5879
dmurrison@sfsc.gov.sk.ca