Regulatory Alerts2019-03-14
Regulation to Amend Regulation 31-103 Respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The regulator amends Regulation 31-103 to update definitions and modify custody requirements for registered firms holding client assets as margin for transactions outside Canada. The changes allow firms to use non-Canadian clearing agencies or dealers as custodians if they are members of regulated exchanges, maintain a net worth exceeding $50 million, and provide greater benefit to clients than Canadian custodians. These custody-related amendments come into force on June 12, 2019, with a delayed effective date for Saskatchewan if filed after that date.
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