Draft Regulation to amend Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations

REGULATION TO AMEND REGULATION 31-103 RESPECTING REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING REGISTRANT OBLIGATIONS Securities Act (chapter V-1.1, s. 331.1, par. (1), (3), (4.1) and (8))

1. Section 14.17 of Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations (chapter V-1.1, r. 10) is amended by adding, after subparagraph (u) of paragraph (1), the following: “(v) the following notification, or a notification that is substantially similar, either of which must be located in a footnote, if during the period covered by the report: (i) the client owned securities of a mutual fund that is a reporting issuer, (ii) the registered firm was a principal distributor, as defined in section 1.1 of Regulation 81-102 respecting Investment Funds (chapter V-1.1, r. 39), of those securities, and (iii) the registered firm received a payment, other than a payment reported under subparagraphs (g) or (h), in connection with services that the registered firm provided to the manager or to the mutual fund as a principal distributor: “We have an exclusive right to distribute or a material competitive advantage over others in distributing the securities of [insert name of the fund]. [Insert name of fund manager] paid us up to a maximum of [insert percentage of the management fee] % of the fund’s management fee for providing services as a principal distributor.”. Effective Date
2. (1) This Regulation comes into force on (indicate here the date of coming into force of this Regulation). (2) In Saskatchewan, despite paragraph (1), if this Regulation is filed with the Registrar of Regulations after (indicate here the date of coming into force of this Regulation), this Regulation comes into force on the day on which it is filed with the Registrar of Regulations.