The Canadian Securities Administrators released proposed amendments to National Instrument 31-103 Registration Requirements and Exemptions and its companion policy today that would add (and clarify), as a condition to the exemptions for SRO members/approved persons provided in sections 3.16, 9.3 and 9.4 of the Instrument, that the registered individual or investment dealer comply with the specified corresponding provision of IIROC or, in the case of a mutual fund dealer firm, the MFDA. The proposed amendments, which follow proposals published on April 15, are open to comment until July 18.
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