The CSA announced further changes to NI 31-103 in order to streamline and increase efficiency, with comments due by March 5, 2014.    These changes include the following:

  • Providing guidance on proficiency requirements for those individuals applying as an associate advising representative or as an advising representative
  • Providing guidance on the experience required of a chief compliance officer of a dealer
  • Restricting the activities that an exempt market dealer can do
  • Providing guidance on conflicts of interest, including with respect to outside business activities
  • Streamlining the filing of notices under sections 11.9 and 11.10 with respect to the acquisition of securities of registrants
  • Providing additional guidance for start-up entities and venture capital / private equity issuers
  • Codifying a sub-adviser and a short-term debt exemption
  • Making amendments to certain existing exemptions in NI 31-103, and adding interpretative guidance
  • Improving the forms under NI 33-109 and NI 31-103

 If you have any questions about these changes, please do not hesitate to contact either Garth Foster or Tracy Hooey