Categories of registration serve two main purposes:
- to specify the types of activity a firm or individual may conduct as a registrant, and
- to provide specific requirements for each category of registration.
For information about registration categories for firms, see Firm Categories. See also Part 7 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103).
Effective September 28, 2009, investment fund managers are required to register. This is a new requirement. However, transition periods apply. Investment fund managers should refer to NI 31-103 to determine when the requirements will apply to them.
Certain international dealers and advisers may be exempt from the registration requirement. For more information, see International Dealer and International Adviser: Exemption from Dealer and Adviser Registration.
For categories of registration under the Commodity Futures Act (Ontario) (the CFA), see sections 7, 8 and 22 of the Regulations to the CFA.
Investment dealers and mutual fund dealers
A firm registered as an investment dealer or a mutual fund dealer is generally required to be a member of a self-regulatory organization (SRO).
A firm registered as an investment dealer must generally become a member of the Investment Industry Regulatory Organization of Canada (IIROC). The OSC reviews the registration of the firm and IIROC reviews the registration of its dealing representatives.
A firm registered as a mutual fund dealer must generally become a member of the Mutual Fund Dealers Association of Canada (MFDA). The OSC reviews the registration of firms registered as mutual fund dealers and their dealing representatives.
For more information:
- National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations
- Omnibus orders, blanket orders and transitional relief relating to new registration regime