February 20, 2007 CSA Securities

Toronto – The Canadian Securities Administrators (CSA) announced today they are seeking comments on proposed National Instrument 31-103 Registration Requirements. The proposed Rule will strengthen the registration regime by harmonizing, streamlining and modernizing the current registration requirements in all 13 CSA jurisdictions.

The proposed Rule harmonizes registration requirements that exist in various acts, rules, regulations, notices and practices across the CSA jurisdictions into a single national instrument. It also significantly reduces the number of registration categories for firms and individuals.

“The proposed Rule creates a single registration regime across Canada which will reduce some of the costs of regulation to many market participants and improve regulatory efficiencies,” said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “Securities regulators are committed to the ongoing harmonization of registration requirements across the CSA and with self-regulatory organizations.”

Proposed National Instrument 31-103 Registration Requirements, the proposed Companion Policy and the CSA Notice and Request for Comments are available on various CSA members’ websites. The comment period is open until June 20, 2007.

The CSA plans to host a series of stakeholder meetings across the country during the comment period to ensure stakeholders have an adequate understanding of the proposed Rule and have another opportunity to provide feedback. In addition to this, regional consultations may also be held with key stakeholders to collect additional feedback and to ensure proper understanding of the proposed rule.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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