Regulatory Alerts2020-12-31
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 registrants. The document defines key terms such as permitted clients and establishes the business trigger test to determine when firms or individuals must register based on factors like frequency, compensation, and solicitation. It further outlines specific exemptions for activities involving permitted clients and provides detailed guidance on the fitness requirements for registered firms and their sponsored individuals.
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