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

The regulator amends Regulation 31-103 to remove specific Quebec exclusions and update cross-references within sections 3.15, 3.16, 6.3, and 9.4. Dealing representatives of mutual fund dealers registered in Quebec are automatically deemed approved persons subject to the relevant organization's rules upon the regulation's coming into force. These amendments streamline the transition of Quebec-based representatives to approved status without requiring further formalities.

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REGULATION TO AMEND REGULATION 31-103 RESPECTING REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING REGISTRANT OBLIGATIONS Securities Act (chapter V-1.1, s. 331.1, pars. (11) and (26))

Section 3.15 of Regulation 31-103 respecting registration requirements, exemptions and
ongoing registrant obligations (chapter V-1.1, r. 10) is amended, in paragraph (2), by deleting “Except in Québec,”.
Section 3.16 of the Regulation is amended by deleting paragraph (3).
Section 6.3 of the Regulation is amended by deleting “Except in Québec,”.
Section 9.4 of the Regulation is amended, in paragraph (3), by replacing “, paragraphs (i)
to (m) and paragraphs (p.1) to (x)” by “and (j)” and replacing “to (g) and paragraphs (j.1) to (o)” by “, (b) and (d)”.
A dealing representative of a mutual fund dealer who is registered in Québec on (indicate
here the date before the date of coming into force of this Regulation) will become, without further formality and as of (indicate here the date of coming into force of this Regulation), an “approved person” as defined under the rules of the organization referred to in paragraph (2) of section 3.15 of Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations. Such representative will also be deemed to have agreed to be subject to the by-laws, rules, decisions and policies of the organization as of (indicate here the date of coming into force of this Regulation).
This Regulation comes into force on (indicate here the date of coming into force of this
Regulation).

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This document amends: Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations

Source: Autorite des marches financiers Quebec — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works