Canadian Registration Reform Proposals To Be Finalized In 2009

The Canadian Securities Administrators have confirmed that proposed National Instrument 31-103 Registration Requirements, and the various related instruments can be expected to come into force by the end of September 2009, subject to necessary CSA and governmental approvals.

CSA Staff Notice 31-310 dated April 3, 2009 available here sets out the proposed implementation timeline for NI 31-103. The CSA will not be seeking further comments on the instruments.

The CSA's target dates are

• end of June 2009 for CSA approvals of the final version of NI 31-103
• mid-July 2009 for publication of the final version of NI 31-103
• end of September 2009 for implementation of NI 31-103.