On January 9, 2014, the Canadian Securities Administrators (CSA) published CSA Staff Notice 31-336 that provides industry guidance on, among other things, when exempt market dealers (EMDs) need to update their ‘know-your-client’ (KYC) information. The CSA states that an EMD should update KYC information at least annually or more frequently if there is a material […]
New CSA Guidance for Exempt Market Dealers on Updating ‘Know-Your-Client’ Information
January 10, 2014 by Leave a Comment
When Do Start-Ups Have to Register as a Dealer in Canada – Proposed Amendments to NI 31-103
December 29, 2013 by 1 Comment
This article examines proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) that provides additional guidance to clarify when, and if, a start-up or early stage issuer including, a technology or mining issuer, has to register as a dealer under NI 31-103. A start-up or early stage issuer that […]
OBSI – Mandatory ADR for All Canadian Securities Registrants – Coming May 1, 2014
December 26, 2013 by 1 Comment
Effective May 1, 2014 (the Effective Date), the Canadian Securities Administrators (the CSA) has announced that the Ombudsman for Banking Services and Investments (OBSI) will become the independent and common dispute resolution and mediation service provider that will be required to be used by all registered firms under NI 31-103[1] in all jurisdictions in Canada, […]
Raising the Bar for CCOs of Securities Registrants in Canada – Proposed Amendments to NI 31-103
December 14, 2013 by Leave a Comment
The Canadian Securities Administrators (CSA) has recently proposed various amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) that include, a proposal to add an experience component to the proficiency requirement to be a chief compliance officer (CCO) of not only an exempt market dealer (EMD) but also for a […]
OSC Announces 2014 Outreach Programs
December 11, 2013 by Leave a Comment
The Ontario Securities Commission (the OSC) announced today its series of Registrant Outreach Programs for 2014. These Programs are a series of free educational seminars to registrants and other industry participants to help them understand their regulatory requirements. Participants can attend in person or access the programs via webinar. Below are the scheduled program topics […]
