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ARTICLE · 06 MAY 2008

Securities Commissions Republish Proposed Dealer Registration Reform

Blake, Cassels & Graydon LLP
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The Canadian Securities Administrators have republished their proposed reforms to the dealer registration regime in a new draft of National Instrument 31-103 – “Registration Requirements” (new NI 31-103), originally published in February 2007.

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

  • Requirement to be registered as a dealer will be based on being in the business of trading in securities

  • Universal registration still contemplated for all provinces, with some reductions in obligations of exempt market dealers

  • Six-month transition period proposed to allow compliance with most new rules

The Canadian Securities Administrators (CSA) have republished their proposed reforms to the dealer registration regime in a new draft of National Instrument 31-103 Registration Requirements (new NI 31-103), originally published in February 2007 (the 2007 Proposal). (For a summary of the original proposal, see our February 2007 Blakes Bulletin on Securities Law Proposed

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