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NOTE. Until rules or instruments become effective as evidenced by their publication in The Alberta Gazette (see section 225 of the Securities Act (Alberta)), they are subject to non-substantive changes. Should such changes occur, a revised version of the relevant rule or instrument will be published on this website.
CSA Notice 31-315 - Omnibus / Blanket Orders Exempting Registrants from Certain Provisions of National Instrument 31-103 Registration Requirements and Exemptions
26 Feb 2010
On September 28, 2009, National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103) and amendments to related instruments including National Instrument 33-109 Registration Information came into force. Since this date, the Canadian Securities Administrators (CSA) have received applications requesting exemptions from certain provisions of NI 31-103. CSA members have issued six orders (the “Orders”) that provide the following:
- The continuation of transition provisions for persons and companies adding a jurisdiction;
- Relief from the chief compliance officer proficiency requirements for portfolio managers adding a category;
- Relief from proficiency requirements for portfolio managers adding registration in the mutual fund dealer or exempt market dealer category;
- Relief from the time limits on examination requirements for dealing representatives of exempt market dealers (in Ontario and Newfoundland and Labrador only) and scholarship plan dealers in all jurisdictions who were registered when NI 31-103 came into force;
- Relief from client notification requirements for certain Canadian registrants with head offices outside of the local jurisdiction; and
- Relief from requirements to establish whether a client is an insider for mutual fund dealers.
CSA Notice 31-315 summarizes the relief granted by the Orders, all of which will take effect on February 26, 2010.
CSA Notice 31-315 - Omnibus / Blanket Orders Exempting Registrants from Certain Provisions of National Instrument 31-103 Registration Requirements and Exemptions
Blanket Order 31-506 - Exemption from Certain Sections of National Instrument 31-103 Registration Requirements and Exemptions in Connection with Transition and Grandfathering Matters
Blanket Order 31-507 - Exemption from Sections 3.6, 3.10 and 3.14 of National Instrument 31-103 Registration Requirements and Exemptions for Chief Compliance Officers of Portfolio Managers Adding a Category
Blanket Order 31-508 - Exemption from Sections 3.5 and 3.9 of National Instrument 31-103 Registration Requirements and Exemptions for Portfolio Managers Adding a Category
Blanket Order 31-509 - Exemption from Section 3.3 of National Instrument 31-103 Registration Requirements and Exemptions for Representatives of Scholarship Plan Dealers
Blanket Order 31-510 - Exemption from Section 14.5 of National Instrument 31-103 Registration Requirements and Exemptions for Canadian Firms
Blanket Order 31-511 - Exemption from Section 13.2(2)(b) of National Instrument 31-103 Registration Requirements and Exemptions for Mutual Fund Dealers
View National Instrument 31-103 and related documents
CSA Notice 23-307 Order Protection Rule Implementation Milestones
19 Feb 2010
The Canadian Securities Administrators (CSA) today published Staff Notice 23-307 Order Protection Rule Implementation Milestones, which provides a timeline for marketplaces to meet the various steps necessary in order to implement the Order Protection Rule by February 1, 2011.
The Notice was prepared in consultation with industry representatives, and identifies several key elements involved in designing, building, and testing systems needed so that marketplaces and other participants will have in place effective trade-through prevention structures before these amendments to NI 23-101 Trading Rules come into effect. The Notice also asks marketplaces to report to the CSA jurisdictions when the targeted milestones are not met or will not be met.
CSA Notice 23-307 Order Protection Rule Implementation Milestones
Blanket Order 31-505 - Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions
12 Feb 2010
On September 28, 2009, National Instrument 31-103 Registration Requirements and Exemptions and amendments to related instruments including National Instrument 33-109 Registration Information came into force. The Alberta Securities Commission has ordered, effective March 27, 2010 pursuant to Blanket Order 31-505 – Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions, that a person is exempt from the registration requirement (subject to meeting the conditions of the order) when trading in securities relying on one or more of the following prospectus exemptions contained in National Instrument 45-106 Prospectus and Registration Exemptions:
- accredited investor (section 2.3);
- family, friends, and business associates (section 2.5);
- offering memorandum (section 2.9); and
- minimum investment amount (section 2.10).
The purpose of ASC Notice - Blanket Order 31-505 - Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions is to guide market participants in understanding when they may rely on Blanket Order 31-505, and providing information on the Alberta Securities Commission’s expectations of market participants who rely on the terms of the order.
Blanket Order 31-505 - Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions
ASC Notice - Blanket Order 31-505 - Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions
View National Instrument 31-103 and related documents
ASC Notice and Request for Comment on Proposed ASC Rule 45-511 Local Prospectus Exemptions and Related Requirements and Consequential Amendments to Alberta Securities Commission Rules (General)
12 Feb 2010
The ASC is inviting public comment on proposed ASC Rule 45-511 Local Prospectus Exemptions and Related Requirements (ASC Rule 45-511) and Consequential Amendments to Alberta Securities Commission Rules (General) (the Rules). Proposed ASC Rule 45-511 is a local rule that consolidates the remaining local prospectus exemptions and related requirements contained in the Rules. As a result, we are proposing the repeal of several sections of the Rules as they will be replaced by similar provisions in ASC Rule 45-511. The comment period will end on March 12, 2010.
ASC Notice and Request for Comment of Proposed ASC Rule 45-511 Local Prospectus Exemptions and Related Requirements and Consequential Amendments to Alberta Securities Commission Rules (General)
Staff Notice 31-314 – NI 31-103 Registration Requirements and Exemptions and Related Instruments – Frequently Asked Questions as of February 5, 2010
05 Feb 2010
On September 28, 2009, National Instrument 31-103 Registration Requirements and Exemptions and amendments to related instruments including NI 33-109 Registration Information came into force. The CSA has compiled a list of frequently asked questions to provide guidance to market participants with respect to interpreting certain financial information requirements of NI 31-103 and NI 33-109 in the form of CSA Notice 31-314 - NI 31-103 Registration Requirements and Exemptions and Related Instruments – Frequently Asked Questions as of February 5, 2010.
CSA Staff Notice 31-314 - NI 31-103 Registration Requirements and Exemptions and Related Instruments – Frequently Asked Questions as of February 5, 2010
View National Instrument 31-103 and related documents
ASC Notice and Request for Comment on Proposed Consequential Amendments to Alberta Securities Commission Rules (General)
22 Jan 2010
The ASC is inviting public comment on proposed consequential amendments to Alberta Securities Commission Rules (General) as a result of the adoption of National Instrument 55-104 Insider Reporting Requirements and Exemptions. The amendments repeal several provisions in Part 14 of the Rules as they will be replaced by similar provisions in National Instrument 55-104 and harmonize Section 7 of the Rules with a similar provision of the Securities Rules in British Columbia. The comment period will end on February 22, 2010.
ASC Notice and Request for Comment on Proposed Consequential Amendments to Alberta Securities Commission Rules (General)
CSA Notice of National Instrument 55-104 Insider Reporting Requirements and Exemptions and Related Consequential Amendments
22 Jan 2010
The Canadian Securities Administrators (CSA) have published National Instrument 55-104 Insider Reporting Requirements and Exemptions (NI 55-104) and related consequential amendments. NI 55-104 consolidates and harmonizes insider reporting requirements and exemptions for insiders in a single national instrument, except in Ontario where the main insider reporting requirements will remain in the Ontario Securities Act. Provided all necessary ministerial approvals are obtained, NI 55-104 and the related consequential amendments will come into force on April 30, 2010.
CSA Notice of National Instrument 55-104 Insider Reporting Requirements and Exemptions and Related Consequential Amendments
View National Instrument 55-104 and related documents
CSA Notice and Request for Comment on Proposed National Instrument 51-101 Standards of Disclosure of Oil and Gas Activities and Related Amendments
18 Dec 2009
The Canadian Securities Administrators (CSA) are inviting public comment on proposed amendments to National Instrument 51-101 Standards of Disclosure of Oil and Gas Activities (NI 51-101) and related amendments. The amendments provide increased guidance around the disclosure of resources other than reserves, clarify and streamline existing requirements and update NI 51-101 in response to industry developments. The comment period will end on Mar 19, 2010.
CSA Notice and Request for Comment on Proposed National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor, Form 51-101F3 Report of Management and Directors on Oil and Gas Disclosure and Companion Policy 51-101CP Standards of Disclosure for Oil and Gas Activities
View proposed amendments to National Instrument 51-101 and related documents
View proposed amendments to Form 41-101F1