Regulatory Alerts2019-12-31
Policy Statement to Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Canadian Securities Administrators issued this policy statement to interpret and apply the provisions of Regulation 31-103 regarding registration requirements, exemptions, and ongoing obligations for registrants. The document provides detailed guidance on the definition of permitted clients, including specific asset thresholds and exemptions from suitability and disclosure requirements for these clients. It further outlines the fundamental concepts of the registration regime, such as the business trigger for trading and advising, and establishes firm responsibilities for sponsoring, monitoring, and supervising registered individuals.
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