Exempt Market Dealers and Prospectus Offerings – Canadian Securities Administrators Back Away from Proposed Changes

Good News for Exempt Market Dealers Participating As Selling Group Members in Prospectus Offerings

Good News for Exempt Market Dealers Participating As Selling Group Members in Prospectus Offerings By Brian Koscak and Peter Dunne Back in December 2013, it looked like the Canadian Securities Administrators (CSA) might slam the door on exempt market dealers participating in prospectus offerings. However, recent changes suggest the door is still open. This article […]

Ontario Securities Commission Announces Pre-Registration Reviews of Exempt Market Dealer Applicants – It’s Going to Get Tougher to Get Registered!

OSC Pre-Registration Review 3The Ontario Securities Commission (the OSC) recently announced that it has commenced a pre-registration review process for new registrant firms, including exempt market dealers (EMDs), in order to assess compliance with Ontario securities law at the time of registration. Why is the OSC doing this? The OSC wants to ensure firm applicants, such as EMDs, [...]

Securities Dispute Resolution – Sample Client Disclosure Letter for Exempt Market Dealers and Others


Effective May 1, 2014, all new registered dealers and advisors across Canada, except in Quebec, must take reasonable steps to ensure that the Ombudsman for Banking Services and Investments (OBSI) will be the independent dispute resolution or mediation service that is made available to a client that has an eligible complaint.  For more information about OBSI […]

Dispute Resolution and Mediation Requirements Effective for Registered Securities Dealers and Advisors in Canada –14 Things You Should Know!


New dispute resolution and mediation requirements recently came into effect for registered securities dealers and advisors in Canada, such as exempt market dealers and portfolio managers. This article discusses 14 things you should now about them and the appointment of  the Ombudsman for Banking Services and Investments (OBSI) as the provider of those services. 1.  Effective […]

Proposed Experience Requirement for Chief Compliance Officers of Exempt Market Dealers – PCMA Canada’s Comment Letter

 The Canadian Securities Administrators (the CSA) have proposed certain amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) and other rules (the Proposed Amendments) that includes, adding a new experience component to the proficiency requirement to be a chief compliance officer (CCO) of an exempt market dealer (EMD). Specifically, the […]