Application for relief from certain filing requirements of MI 33-109 in connection with a bulk change of category of the firm's registered and non-registered individuals into an additional registration category in connection with the mutual fund dealer's additional registration as a limited market dealer.
MI 33-109 -- Registration Information
IN THE MATTER OF
THE SECURITIES ACT (ONTARIO),
R.S.O. 1990, c.S.5, AS AMENDED (the Act)
IN THE MATTER OF
DESJARDINS CABINET DE SERVICES FINANCIERS
INC. / DESJARDINS FINANCIAL SERVICES FIRM INC.
(Section 7.1 of Multilateral Instrument 33-109)
UPON the application (the Application) of Desjardins Cabinet De Services Financiers Inc. / Desjardins Financial Services Firm Inc. (the Applicant) pursuant to section 7.1 of Multilateral Instrument 33-109 - Registration Information (MI 33-109) for an exemption from the requirement in section 4.2 of MI 33-109 that the Applicant submit a completed Form 33-109F2 for all registered and non-registered individuals of the Applicant in connection with the Applicant's registration as a dealer in the category of limited market dealer (LMD), in addition to its current registration as a dealer in the category of mutual fund dealer;
AND UPON considering the Application;
AND UPON the Applicant having represented to the Director that:
1. The Applicant is a corporation organized under the laws of Quebec. The Applicant's principal place of business is in Montréal, Quebéc.
2. The Applicant is registered in Ontario as a dealer in the category of mutual fund dealer. The Applicant has applied to the Commission for registration as a limited market dealer.
3. The Applicant is a Canadian mutual fund dealer registered in every province and territory for the distribution of investment funds. The Applicant has approximately 311 registered and non-registered individuals (the Registered Individuals) in Ontario.
4. All individuals who trade in securities in Ontario on behalf of the Applicant have been registered as Registered Individuals in accordance with the registration requirement under section 25(1) of the Act and the requirements of Multilateral Instrument 33-102 -- National Registration Database (MI 33-102), by submitting a Form 33-109F4 completed with all the information required for a Registered Individual.
5. The Applicant seeks relief from the requirement to submit a Form 33-109F2 -- Change or Surrender of Individual Categories for each of its Registered Individuals in connection with the Applicant adding an additional category of dealer registration for each of its Registered Individuals on the National Registration Database (NRD)(the Bulk Change of Category).
6. Given the number of Registered Individuals of the Applicant, the preparation and filing of Form 33-109F2's on behalf of each Registered Individual would achieve no regulatory purpose, while imposing an unwarranted administrative and compliance burden on the Applicant.
AND WHEREAS the Director is satisfied that it would not be prejudicial to the public interest to make the requested Order on the basis of the condition proposed;
IT IS ORDERED, pursuant to section 7.1 of MI 33-109, that the Applicant is exempt from the requirement in section 4.2 of MI 33-109 to submit a completed Form 33-109F2 for each of its Registered Individuals in connection with the Applicant's registration as a dealer in the additional category of limited market dealer.
March 8, 2007
"David M. Gilkes"