In the context of the COVID-19 pandemic, the Canadian Securities
Administrators (the "CSA") announced on April 16, 2020 two
harmonized local blanket orders in connection with the
implementation of the Client Focused Reforms (as defined
hereinafter). Under the first one, the CSA have postponed from
December 31, 2020 until June 30, 2021 the implementation of the
changes to the conflict of interest provisions (the "Conflict
of Interest Orders"). Under the second one, the CSA have
postponed from December 31, 2020 until December 31, 2021 the
implementation of the changes to the relationship disclosure
provisions (the "Relationship Disclosure Orders").
Changes to the other provisions under the Client Focused Reforms
will take effect as scheduled on December 31, 2021.
