Legal news and trends for Canadian in-house counsel and c-suite executives
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By Sanjay Joshi and Geoffrey Ritchie of WeirFoulds LLP. Securities law On Sept. 28, 2009, securities regulatory authorities across Canada welcomed the new National Instrument 31-103 Registration Requirements and Exemptions. The new registra- tion rules brought a number of major changes to the securities industry in Canada, one of the most significant of which was the introduction of the new exempt market dealer registra- tion category. INHOUSE OCTOBER 2009 • 13 1 2 3 4 5 6 (b) rue False (a) T (c) category education when and Everyone Ultimate registered rules The the (b) Salespersons The (a) experience Chief Everyone experience an with became (d) $100,000 $150,000 Compliance proficiency ef Designated requirements, Of registered proficiency with an exempt fective requirements on dealer Person market ficer (b) $25,000 (c) $50,000 (a) dealer What False is is the required (b) rue (a) registration market T exempt are minimum to Exempt Minimum from (e) Rights the (d) Of (c) fering of rules. dealers maintain? of amount excess exempt (d) (b) exempt (a) Family market edited of friends, fering Accr , $150,000 solvency do that and T Which cannot of erritories, (b) rue False (a) T be the relied memorandum and pur not province rue, — but investor Nunavut, in on T on force new and The dealer and following . only territory . in Sept. . dealer 28, business chase insurance or hold working except market registration T the Alberta, Y ukon prospectus British of associates a requirements access have capital for: dealer an now Sept. of 28, their 2009. must exempt has registration met have the education security in to Ontario Canada. and 2009, in registration and exemption in erritory exemptions Columbia, in is category a order to order National Manitoba, those one under client the market transaction assets new benefit Newfoundland in category "exempt of and dealer market the jurisdictions? from Instrument Northwest Labrador registration dealer" in came every the 45-106 into and