Client Focused Reforms: Information and Resources
This page is your source for important information related to the implementation of Client Focused Reforms. It will be updated as new information becomes available so check back often.
On December 31, 2019, Client Focused Reforms (CFRs) were enacted across Canada through the adoption of amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
We recognize that implementation of the CFRs will require significant work on the part of registrants and we have worked with other members of the Canadian Securities Administrators (CSA) to provide registrants time to implement the phased-in reforms.
To help us understand the operational challenges with implementation, registrants and all stakeholders are encourage to visit the CSA’s CFR implementation page and resource page to provide feedback and for additional resources.
Key dates
June 30, 2021: Conflict of interest amendments take effect
December 31, 2021: All remaining changes, including relationship disclosure provisions, take effect
CFR Frequently Asked Questions
CFR Policy Documents and Supporting Information
ASC Blanket Order 31-537 Transitional Relief under National Instrument 31-103