Canadian Securities Administrators

Canadian Securities Administrators

July 17, 2009 11:00 ET

Canadian Securities Regulators Finalize Passport for Registrants and a Streamlined Review Policy for Registration in Multiple Jurisdictions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2009) - The Canadian Securities Administrators (CSA) today published the final version of a new streamlined process for dealer and adviser registration in multiple jurisdictions, making the passport system available to registrants.

All CSA jurisdictions (except Ontario) have approved the rule and policy amendments. CSA members in all provinces and territories (including Ontario) have approved a new policy containing procedures for registration in multiple jurisdictions. It includes an interface system for firms and individuals in passport jurisdictions to register in Ontario.

"With the extension of passport to dealers and advisers, the passport system will be fully implemented," said CSA Chair Jean St-Gelais. "This final phase of passport will give market participants faster and simpler access to the Canadian capital markets and will benefit investors in all provinces and territories."

Amending Multilateral Instrument 11-102 Passport System to extend passport to the dealer and adviser community is the last step in fulfilling a major commitment in the memorandum of understanding regarding securities regulation among the governments of passport jurisdictions. Ontario is not a passport jurisdiction.

The new policy, National Policy 11-204 Process for Registration in Multiple Jurisdictions, will replace and streamline the current National Registration System and establish the process for obtaining registration in multiple jurisdictions, including Ontario.

The foundation for passport is a set of harmonized regulatory requirements consistently interpreted and applied throughout Canada. The amendments to the passport instrument and the new national policy will be implemented concurrently with National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103), which harmonizes and simplifies the registration regime in Canada. The CSA published NI 31-103 and the related instruments and amendments today. We expect to implement NI 31-103 and the related instruments on September 28, 2009.

The amendments, new policy, and related documents are available on various CSA members' websites.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

Contact Information

  • British Columbia Securities Commission
    Ken Gracey
    604-899-6577
    or
    Alberta Securities Commission
    Mark Dickey
    403-297-4481
    or
    Manitoba Securities Commission
    Ainsley Cunningham
    204-945-4733
    or
    Nova Scotia Securities Commission
    Natalie MacLellan
    902-424-8586
    or
    New Brunswick Securities Commission
    Wendy Connors-Beckett
    506-643-7745
    or
    PEI Securities Office
    Office of the Attorney General
    Janice Callbeck
    902-368-6288
    or
    Northwest Territories Securities Office
    Donn MacDougall
    867-920-8984
    or
    Autorite des marches financiers
    Sylvain Theberge
    514-940-2176
    or
    Saskatchewan Financial Services Commission
    Barbara Shourounis
    306-787-5842
    or
    Financial Services Regulation Div
    Newfoundland and Labrador
    Doug Connolly
    709-729-2594
    or
    Yukon Securities Registry
    Fred Pretorius
    867-667-5225
    or
    Nunavut Securities Office
    Louis Arki
    867-975-6587
    or
    Ontario Securities Commission
    Carolyn Shaw-Rimmington
    416-593-2361