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A friendly reminder to registrants of obligations under National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) to file a written notice with regulators of the appointment of a new auditor or when an auditor resigns or is terminated on Form 33-109F5. There is also a requirement to file a copy of the direction to the new auditor to conduct required audits, and for this set of requirements to be set out in a
The Executive Director of the British Columbia Securities Commission (BCSC) recently imposed an administrative penalty on a registrant based in the province for failing to comply with these requirements, including with respect to the missing information in the registrant's policies and procedures manual.
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