Proposed amendments were published to Forms 33-109F4
Registration of Individuals and Review of Permitted
Individuals and 33-506F4 Registration of Individuals and
Review of Permitted Individuals; Forms 33-109F6 Firm
Registration and 33-506F6 Firm Registration;and Forms
33-109F7 Reinstatement of Registered Individuals and Permitted
Individuals and 33-506F7 Reinstatement of Registered
Individuals and Permitted Individuals
The proposed amendments are fairly discrete and are described by
the OSC as "minor amendments of a housekeeping
nature". For example, one of the proposed amendments to
Forms 33-109F6 and 33-506F6 eliminate the requirement to disclose
exemptions from registration or licensing to trade or advise, if
the firm has already notified the Director. The proposed
amendment to Forms 33-109F7 and 33-506F7 would revise an exception
for changes to information previously submitted when a registered
individual joins a new sponsoring firm. The proposed revision
to the exception would allow reinstatement upon the submission of
Form 33-109F7 or 33-506F7, as applicable, subject to certain other
conditions, if there are no changes to information previously
submitted in Item 13 (among other Items) of Form 33-109F4 or
33-506F4, as applicable, other than to Item 13.3(a) (instead of
Item 13.3(c), as is currently the case).
The proposed amendments are set out in detail in Annex D and
Annex F of the CSA Notice and Request for
Comment relating to proposed amendments to National
Instrument 31-103 Registration Requirements, Exemptions and
Ongoing Registrant Obligations. Please see here for our post discussing the proposed
amendments to NI 31-103. The CSA has requested that comments
on the proposed amendments be submitted by October 5, 2016.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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