On July 7, 2016, the Canadian Securities Administrators ("CSA") published for a 90-day public comment period proposed amendments to:
- NI 31-303 – Registration Requirements, Exemptions and Ongoing Registrant Obligations, including Form 31-103F1 Calculation of Excess Working Capital;
- 31-103 CP – Registration Requirements, Exemptions and Ongoing Registrant Obligations; and
- NI 33-109 – Registration Information.
The proposed amendments include proposals to:
- enhance custody requirements applicable to registered firms that are not members of IIROC or the MFDA;
- clarify the activities that may be conducted under the exempt market dealer category of registration in respect of trades in prospectus-qualified securities;
- make permanent certain temporary relief granted by the CSA in May 2015 relating to the 2013 CRM2 Amendments, as described in CSA Staff Notice 31-341 and also add guidance to 31-103CP regarding the delivery of information required by the 2013 CRM2 Amendments; and
- incorporate other changes to the Instrument of a minor housekeeping nature.
The comment period expires on October 5, 2016. The CSA's proposed amendments may be viewed here.
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