Learn more about what the ASC is doing to support market participants and investors.
Dec 16, 2021
Toronto - The Canadian Securities Administrators (CSA) today published final amendments to establish a more efficient registration and oversight process for firms, individuals and regulators by simplifying and streamlining certain regulatory requirements. The changes also provide firms and individuals with greater clarity on the information required as part of the registration process, while improving the quality of information received by regulators.
Provided all Ministerial approvals are obtained, the amendments will come into force on June 6, 2022. The CSA will not require registrants to update their registration information as of the effective date of the amendments. Instead, registrants will be required to update their information by the earlier of (i) when the registrant next has a change in registration information to report on or after the June 6, 2022 effective date or (ii) June 6, 2023. The final amendments include guidance relating to updating registration information.
“The submission of registration information represents an important touchpoint between regulators, firms and individuals,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “The changes announced today will streamline the Canadian framework for registration information, resulting in cost and time savings to registrants, while providing the CSA with the information it needs to carry out its regulatory function and protect investors.”
The amendments are not intended to change the nature of the registration process, the requirement to register or the assessment of suitability for registration.
The amendments to National Instrument 33-109 Registration Information, and related changes to its companion policy, as well as consequential amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and changes to its companion policy can be found on CSA members’ websites.
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The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
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