CSA publish blanket orders exempting registrants from provisions of registration regime
The Canadian Securities Administrators (CSA) today published an omnibus set of blanket orders exempting registrants from certain provisions of National Instrument 31-103. The orders, which take effect on February 26, 2010, cover the following areas:
- The continuation of transition/grandfathering provisions for persons and companies adding a jurisdiction;
- Relief from for the chief compliance officer (CCO) proficiency requirements for portfolio managers adding a category;
- Relief from proficiency requirements for portfolio managers adding registration in the mutual fund dealer or exempt market dealer category;
- Relief from the time limits on examination requirements for dealing representatives of exempt market dealers (in Ontario and Newfoundland and Labrador only) and scholarship plan dealers in all jurisdictions who were registered when NI 31-103 came into force;
- Relief from client notification requirements under section 14.5 of NI 31-103 for certain Canadian registrants with head offices outside of the local jurisdiction;
- Relief from requirements to establish whether a client is an insider under section 13.2(2)(b) of NI 31-103 for mutual fund dealers.
