Securities Law & Instruments

NOTICE OF MINISTERIAL APPROVAL OF
NATIONAL INSTRUMENT 23-102
USE OF CLIENT BROKERAGE COMMISSIONS




On November 27, 2009, the Minister of Finance approved National Instrument 23-102 Use of Client Brokerage Commissions (the Rule) made by the Ontario Securities Commission (the Commission or OSC) on September 29, 2009.

On September 29, 2009, the Commission adopted the related Companion Policy 23-102CP (Companion Policy), and approved the rescission of OSC Policy 1.9 Use by Dealers of Brokerage Commissions as Payment for Goods and Services other than Order Execution Services – (“Soft Dollar” Deals) (OSC Policy 1.9).

The Rule, Companion Policy and rescission of OSC Policy all become effective on June 30, 2010. Each was previously published in the OSC Bulletin on October 9, 2009.

The Rule and Companion Policy are being published in Chapter 5 of this Bulletin.

December 23, 2009