Securities Law & Instruments

Headnote

Mutual Reliance Review System for Exemptive Relief Applications -- Extension of the sunset clause in the original decision, in which a registered investment dealer is granted relief from section 228 of the Ontario Regulation for recommendations in respect of securities of its parent bank, subject to conditions.

Applicable provision

Section 228 of R.R.O. 1990, Regulation 1015, amended to O. Reg. 500/06.

February 5, 2007

IN THE MATTER OF

THE SECURITIES LEGISLATION OF

ONTARIO, NOVA SCOTIA, AND

NEWFOUNDLAND AND LABRADOR

(the Jurisdictions)

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEW SYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

TD SECURITIES INC. (the Filer)

 

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatory authority or regulator (the Decision Maker) in each of Ontario, Nova Scotia, and Newfoundland and Labrador (the Jurisdictions) has received an application (the Application) for an order (the Variation Order) under the applicable securities legislation (the Legislation) of the Jurisdictions varying the MRRS Decision Document dated February 4, 2005 (the Original Exemptive Relief) that provides that certain provisions in the Legislation that provide that no registrant shall, in any medium of communication, recommend, or cooperate with any person or company in the making of any recommendation, that the securities of the registrant, or a related issuer of the registrant, or, in the course of a distribution, the securities of a connected issuer of the registrant, be purchased, sold or held, shall not, in certain circumstances, apply to the Filer, in respect of securities of its parent bank, The Toronto Dominion Bank;

AND WHEREAS under the Mutual Reliance Review System for Exemptive Relief Applications (the System), the Ontario Securities Commission is the principal regulator for the Application;

AND WHEREAS, unless otherwise defined, terms used herein have the meaning set out in National Instrument 14-101 Definitions;

AND WHEREAS each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to grant the Variation Order has been met;

AND WHEREAS under the System, this MRRS Decision Document evidences the decision of each Decision Maker (collectively, the Decision);

IT IS ORDERED pursuant to the Legislation that section (D) of the Original Exemptive Relief be amended as follows:

(D) this Decision shall terminate on the day that is four years after the date of this Decision.

"Paul M. Moore"
Commissioner
Ontario Securities Commission
 
"Carol S. Perry"
Commissioner
Ontario Securities Commission