CSA Staff Notice 31-339
Omnibus/Blanket Orders Exempting IIROC and MFDA Registrants from Certain Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations
May 29, 2014
All CSA members have issued parallel orders that provide Investment Industry Regulatory Organization of Canada (IIROC) member firms with relief from certain provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103), which form part of the Client Relationship Model Phase 2 (CRM2). All CSA members except Québec have issued parallel orders that provide Mutual Fund Dealers Association of Canada (MFDA) member firms with relief from certain CRM2 provisions of NI 31-103. Those CRM2 provisions of NI 31-103 do not apply to IIROC and MFDA member firms, provided they comply with the corresponding requirements of IIROC and the MFDA, respectively.
On July 15, 2014, the following provisions of NI 31-103, which form part of CRM2, will come into effect:
(a) paragraph 14.2(2)(m) [relationship disclosure information];
(b) section 14.2.1 [pre-trade disclosure of charges]; and
(c) paragraphs 14.12(1)(b.1) and (c.1) [content and delivery of trade confirmation].
IIROC and the MFDA (together, these self-regulatory organizations are referred to as the SROs) have published amendments to their respective member rules that will have materially the same effect as the amendments to NI 31-103 and will also come into effect on July 15, 2014.
All CSA members have issued parallel orders that provide IIROC member firms with relief from the relevant provisions of NI 31-103, provided they comply with the corresponding requirements of IIROC.
All CSA members except Québec have issued parallel orders that provide MFDA member firms with relief from the relevant provisions of NI 31-103, provided they comply with the corresponding requirements of the MFDA.
The orders will expire on the date on which amendments to Part 9 of NI 31-103 and Appendices G and H of NI 31-103 come into force providing equivalent exemptions for IIROC and MFDA members. We will take the appropriate steps to make the necessary amendments to Part 9 of NI 31-103 in due course.
If you have questions regarding this Notice, please refer them to any of the following:
Christopher Jepson Brian W. Murphy Senior Legal Counsel Deputy Director, Capital Markets Compliance and Registrant Regulation Nova Scotia Securities Commission Ontario Securities Commission 902-424-4592 416-593-2379 firstname.lastname@example.org email@example.com Gérard Chagnon Jason Alcorn Analyste expert en réglementation Legal Counsel, Securities Direction des pratiques de distribution et des OAR Financial and Consumer Services Commission (NB) Autorité des marchés financiers Tel: 506-643-7857 418-525-0337, ext 4815 and firstname.lastname@example.org 1-877-525-0337 email@example.com Kate Holzschuh Katharine Tummon Senior Legal Counsel Director Capital Markets Regulation Office of the Superintendent British Columbia Securities Commission of Securities, P.E.I. 604-899-6628 and 902-368-4542 1-800-373-6393 firstname.lastname@example.org email@example.com Navdeep Gill Craig Whalen Manager, Registration Manager of Licensing, Registration and Compliance Alberta Securities Commission Office of the Superintendent of Securities 403-355-9043 Government of Newfoundland and Labrador firstname.lastname@example.org 709-729-5661 email@example.com Liz Kutarna Gary MacDougall Deputy Director, Capital Markets Superintendent of Securities Securities Division Department of Justice Financial and Consumer Affairs Authority of Saskatchewan Government of the Northwest Territories 306-787-5871 867-873-7490 firstname.lastname@example.org email@example.com Chris Besko Rhonda Horte Acting General Counsel, Acting Director Deputy Superintendent The Manitoba Securities Commission Office of the Yukon Superintendent 204-945-2561 and 1-800-655-5244 of Securities (Toll Free (Manitoba only)) 867-667-5466 firstname.lastname@example.org email@example.com Carla Buchanan Louis Arki Compliance Auditor Director, Legal Registries The Manitoba Securities Commission Department of Justice, Government of Nunavut 204-945-8973 and 1-800-655-5244 867-975-6587 (Toll Free (Manitoba only)) firstname.lastname@example.org email@example.com