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ARTICLE · 01 MAY 2008

Securities Commissions Propose New Registration Requirement For Investment Fund Managers

Blake, Cassels & Graydon LLP
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The Canadian Securities Administrators have republished for comment a revised draft of National Instrument 31-103 – “Registration Requirements” (new NI 31-103), originally published in February 2007, that continues to propose to require investment fund managers to become registered with the CSA as such under a new category of registration.

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Copyright 2008, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Securities Regulation, April 2008

HIGHLIGHTS

  • Canadian investment fund managers will be required to register, with new financial and proficiency requirements

  • Non-Canadian investment fund managers are not subject to registration unless they direct the affairs of a fund from within Canada

  • Applications for registration must be filed within six months of the date new National Instrument 31-103 comes into force

INTRODUCTION

The Canadian Securities Administrators (CSA) have republished for comment a revised draft of National Instrument 31-103 Registration Requirements (new NI 31-103), originally published in February 2007, that continues to propose to require investment fund managers to become registered with the

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