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Jul 07, 2016
The Canadian Securities Administrators (CSA) today published proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) and National Instrument 33-109 Registration Information. The amendments include proposals to enhance custody requirements for certain registrants, clarify activities that may be conducted by exempt market dealers and incorporate relief from certain Client Relationship Model Phase 2 (CRM2) requirements into NI 31-103.
The proposed custody amendments are intended to address potential intermediary risks, enhance the protection of client assets and codify existing custodial best practices.
“Safety of client assets is a fundamental element of the CSA’s investor protection mandate. The proposed amendments aim to promote stronger investor protection, clarify certain regulatory requirements and enhance market efficiencies,” said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers.
The proposals also contain amendments to NI 31-103 and its companion policy to:
The CSA welcomes feedback on the proposed amendments, which can be found on CSA members’ websites. The comment period closes October 5, 2016.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
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For more information:
Kristen Rose Ontario Securities Commission 416-593-2336 firstname.lastname@example.org
Pam McDonald British Columbia Securities Commission 604-899-6782
Jason Booth The Manitoba Securities Commission 204-945-1660
Tanya Wiltshire Nova Scotia Securities Commission 902-424-8586
Jeff Mason Nunavut Securities Office 867-975-6591
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160
Sylvain Théberge Autorité des marchés financiers email@example.com
Andrew Nicholson Financial and Consumer Services Commission, New Brunswick 506-658-3021
Janice Callbeck The Office of the Superintendent of Securities, P.E.I. 902-368-6288
Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466
Tom Hall Office of the Superintendent of Securities, Northwest Territories 867-767-9305