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ARTICLE · 20 JULY 2018

CSA Releases Client-Focused Reforms To NI 31-103 In Response To Client-Registrant Relationship Concerns

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On June 21, 2018 the Canadian Securities Administrators released proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and ...

CanadaCorporate/Commercial Law
Jason A. Chertin
Jason A. Chertin
Leila Rafi
Leila Rafi
Alex Bruvels
Alex Bruvels
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Co-authored by David Fanjoy, Summer Law Student

Overview of the Notice

On June 21, 2018 the Canadian Securities Administrators (the "CSA") released proposed amendments (the "Proposed Amendments") to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations ("NI 31-103") and Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations (the "Companion Policy"). The goals of the Proposed Amendments are to better align the interests of securities advisors, dealers, and representatives with the interests of their clients to improve outcomes for clients, and to help clients better understand the nature and the terms of their relationship with registrants. The Proposed Amendments are expected to impose additional compliance obligations on registrants.

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