Focus on Compliance – What’s Important for 2011?

Over the past two years, financial services firms that are dealers, advisers and/or investment fund managers have implemented much of the dramatic changes to the Canadian regulatory landscape brought about by National Instrument 31-103 Registration Requirements and Exemptions and the related registration and prospectus exemption rules. Although many of the deadlines have passed, the need to focus on compliance continues. The purpose of this Bulletin is to help registrants' senior management, boards of directors, CCOs and compliance staff understand what will be important during 2011.

KEEPING TRACK OF REGULATORY CHANGES

During 2010, two proposals to amend NI 31-103 and related rules were published for comment. The Canadian Securities Administrators are considering the comments made on the proposals and can be expected to publish either revised proposals or final rules during 2011.