Aggregated News From Investment Management Regulators

Canadian securities regulators propose to modernize registration information requirements, clarify outside activity reporting and update filing deadlines


Please complete the required fields.

The Canadian Securities Administrators (CSA) is proposing targeted changes to provide registered firms and individuals with greater clarity on what information is required as part of the registration process, while also improving the quality of information received by regulators. These changes are expected to result in a more efficient registration and oversight process.

“We heard from our stakeholders that certain registration information they provide can be disproportionately burdensome, and that other registration information requirements could be clearer,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “These proposals are intended to modernize the registration information framework and provide greater clarity to registrants, while still allowing the CSA to receive the information necessary to carry out its regulatory role and protect investors.”

The CSA is proposing changes to how registrants report, and firms manage, outside activities, including establishing a framework that outlines categories of outside activities that registrants need to report to regulators on. The changes also codify existing requirements regarding the oversight of outside activities that are positions of influence.

The proposed changes also include amending the way certain required information can be disclosed to regulators to minimize duplicate filings. Other amendments are also expected to reduce the number of common errors seen on forms by providing clear requirements on what information must be disclosed.

Changes to reporting deadlines are also being considered, including extending the timeframe in which registrants are required to provide updates to certain registration information.

The proposed amendments are not intended in any way to change the nature of the registration process, the requirement to register, or the assessment of suitability for registration.

Stakeholders are invited to provide comments in writing on or before May 5, 2021.

CSA Notice and Request for Comment of the proposed amendments to National Instrument 33-109 Registration Information can be found on CSA members websites.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

For Investor inquiries, please refer to your respective securities regulator. You can contact them here.

For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

This news item was originally published by the Ontario Securities Commission (OSC CA). For more information, see the Source Link.

Regulator Information

Abbreviation: OSC
Jurisdiction: Canada

Recent Articles

The SEC Levels Up: Statement on In re Activision Blizzard

Feb. 3, 2023 Today, the Commission announced a $35 million settlement with Activision Blizzard Inc. (“Activision Blizzard”).

Mr William Stephen Cairns (date of Birth 15 January 1949) of Key West, Doyle Road, St Peter Port Guernsey GY1 1RG — GFSC

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 July

Mr Du Preez Gert Vermeulen (Date of Birth 5 August 1987) of Doyle Court, Doyle Road, St Peter Port Guernsey GY1 1RD

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 2 February 2023 until 2 Mar

Publication of a Notice of the fact of a Prohibition Order and a Discretionary Financial Penalty — GFSC

On 2 February 2023, the Commission imposed discretionary financial penalties as follows:  Mr William Stephen Cairns (“Mr Cairns”) a financial penalty of £133,000; and  Mr Du Preez Gert Vermeulen (“M

Get the latest from Regulatory.News in your inbox!