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ARTICLE · 03 SEPTEMBER 2009

New National Instrument 31-103 To Take Effect September 28, 2009

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Dealer and adviser registration categories and requirements throughout Canada are numerous, varied and complex.

CanadaFinance and Banking
Delia Cristea
Delia Cristea
Michael Nicholas
Michael Nicholas
Sean Sadler
Sean Sadler
Sonia Struthers
Sonia Struthers
Rene Sorell
Rene Sorell
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Overview

Dealer and adviser registration categories and requirements throughout Canada are numerous, varied and complex. After several years of consultation, the Canadian Securities Administrators (CSA) have published National Instrument 31-103 Registration Requirements (NI 31-103) containing amendments to securities legislation and local rules that are intended to harmonize, streamline and simplify dealer and adviser registration categories and requirements. In all jurisdictions other than Ontario, NI 31-103 becomes effective on September 28, 2009 (the Implementation Date). In Ontario, it becomes effective on a date to be announced by the Ontario government.

The main changes brought about by NI 31-103 are:

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