Client-focused Registrant Reform Deadlines Postponed Due To COVID-19

In recognition of the disruption to business as usual for registrants due to COVID-19, the Canadian Securities Administrators (CSA) announced relief on April 16, 2020 that adjusts the implementation dates for certain aspects of the client-focused rule amendments to National Instrument 31-103, originally published in October 2019. CSA Notice 31-357 provides notice of two blanket orders adopted by each applicable member of the CSA, which have the following effects:

• moving the effective date of the new conflicts of interest provisions provided for in the client- focused reforms from December 31, 2020 to June 30, 2021 (view the OSC order here); and
• moving the effective date for new disclosures in relationship disclosure documents (RDI), also required as part of the client-focused reform amendment package, from December 31, 2020 to December 31, 2021 (view the OSC order here).