The proposed registration reform aims to harmonize proficiency and conduct rules across Canada and will include permanent registration that will provide individuals with seamless transfer between firms.
Here are some other changes that could affect you:
- Dealer registration: replacing the trade trigger with a business trigger; and
- Registration of persons who deal in prospectus-exempt securities and investment fund managers.
During the month of May 2007, the ASC was part of a CSA Roadshow that traveled across Canada to meet with industry participants and the public to discuss the proposed changes in National Instrument NI 31-103 Registration Requirements. The information sessions were held in Calgary, Vancouver, Toronto, and Montreal and were designed to provide an overview of the proposals and offer a forum for feedback.
The comment period for NI 31-103 ended June 20, 2007 and feedback is now being reviewed. It is expected that the rule will be published for a second time this fall with an objective of finalizing everything by the end of 2007.
Karen encourages those who missed the sessions or just want to know more to visit rrp-info.ca or view the webcast created by the CSA . You will be asked to register for this free online presentation. Features include accompanying presentation slides as well as the ability to skip and ahead and view particular topics.