Regulatory Alerts2020-01-09
Policy Statement to Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Canadian Securities Administrators issued this policy to interpret and apply the provisions of Regulation 31-103 regarding registration requirements, exemptions, and ongoing obligations for market participants. The document defines the term permitted client and outlines specific exemptions from registration and disclosure duties when dealing with such clients, including detailed guidance on asset threshold determinations. It further establishes fundamental concepts of the registration regime, including the business trigger for trading and advising, fitness for registration standards, and the responsibilities of registered firms to supervise their individuals.
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