Canadian Securities Regulators finalize passport for registrants and a streamlined review policy for registration in multiple jurisdictions

CSA Securities

Vancouver – The Canadian Securities Administrators (CSA) today published the final version of a new streamlined process for dealer and adviser registration in multiple jurisdictions, making the passport system available to registrants.

All CSA jurisdictions (except Ontario) have approved the rule and policy amendments. CSA members in all provinces and territories (including Ontario) have approved a new policy containing procedures for registration in multiple jurisdictions. It includes an interface system for firms and individuals in passport jurisdictions to register in Ontario.

“With the extension of passport to dealers and advisers, the passport system will be fully implemented,” said CSA Chair Jean St-Gelais. “This final phase of passport will give market participants faster and simpler access to the Canadian capital markets and will benefit investors in all provinces and territories.”

Amending Multilateral Instrument 11-102 Passport System to extend passport to the dealer and adviser community is the last step in fulfilling a major commitment in the memorandum of understanding regarding securities regulation among the governments of passport jurisdictions. Ontario is not a passport jurisdiction.

The new policy, National Policy 11-204 Process for Registration in Multiple Jurisdictions, will replace and streamline the current National Registration System and establish the process for obtaining registration in multiple jurisdictions, including Ontario.

The foundation for passport is a set of harmonized regulatory requirements consistently interpreted and applied throughout Canada. The amendments to the passport instrument and the new national policy will be implemented concurrently with National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103), which harmonizes and simplifies the registration regime in Canada. The CSA published NI 31-103 and the related instruments and amendments today. We expect to implement NI 31-103 and the related instruments on September 28, 2009.

The amendments, new policy, and related documents are available on various CSA members’ websites.

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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For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge

514 940-2176

Alberta Securities Commission

Mark Dickey

403 297-4481

British Columbia Securities Commission

Ken Gracey

604 899-6577

Financial Services Regulation Division, Newfoundland and Labrador

Doug Connolly

709 729-2594

Manitoba Securities Commission

Ainsley Cunningham

204 945-4733

New Brunswick Securities Commission

Wendy Connors-Beckett

506 643-7745

Northwest Territories Securities Office

Donn MacDougall

867 920-8984

Nova Scotia Securities Commission

Natalie MacLellan

902 424-8586

Nunavut Securities Office

Louis Arki

867 975-6587

Ontario Securities Commission

Carolyn Shaw-Rimmington

416 593-2361

PEI Securities Office, Office of the Attorney General

Janice Callbeck

902 368-6288

Saskatchewan Financial Services Commission

Barbara Shourounis

306 787-5842

Yukon Securities Registry

Fred Pretorius

867 667-5225