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ARTICLE · 29 AUGUST 2018

Securities Commissions Revoke "Northwest Exemption" In Certain Jurisdictions

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On August 15, 2018, the securities regulatory authorities (together, the "Commissions") of British Columbia, Manitoba, Nunavut, the Northwest Territories and the Yukon (the "Jurisdictions")

CanadaCorporate/Commercial Law
James D. Beeby
James D. Beeby
Lisa Andrews
Lisa Andrews
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On August 15, 2018, the securities regulatory authorities (together, the "Commissions") of British Columbia, Manitoba, Nunavut, the Northwest Territories and the Yukon (the "Jurisdictions") announced that effective April 30, 2019, the local orders comprising the registration exemption commonly known as the "Northwest Exemption" will be revoked. The Alberta Securities Commission announced that it would be seeking consultations on revoking its local order comprising the Northwest Exemption and the Financial and Consumer Affairs Authority of Saskatchewan announced that it will advise of its approach to the Northwest Exemption in due course.

The Northwest Exemption exempts firms and individuals engaged in the business of trading in securities distributed under an exemption from the prospectus requirements ("exempt market securities") from being registered as an "exempt market dealer" for firms, or a "dealing representative" for individuals, under National Instrument

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