August 06, 2009
On Thursday July 30, members of Torys' Managed Assets Practice Group hosted a seminar on the new rules affecting Canada’s Securities Registration System.
National Instrument 31-103, Registration Requirements was published by the Canadian Securities Administrators (CSA) on July 17, 2009 and applies to firms and individuals who deal in securities, provide investment advice or manage investment funds. The new rules are part of the CSA's "Registration Reform Project," designed to harmonize registration requirements across Canada. They are expected to come into force on September 28, 2009.
Although the CSA has taken the position that the final rules do not make any substantive changes to the 2008 draft, the new rules do represent some significant changes to existing practices for Canadian and non-resident dealers, advisers and mutual fund managers. Torys' interactive seminar provided guidance on how the new rules will affect firms and individuals who deal or advise in securities, and also covered a variety of related issues.
Torys was the first major law firm to host a seminar on this topic, which was attended by over 100 members of the investment fund community. The seminar’s panelists were Marlene Davidge, Dawn Scott, Martin Guest and Christine Vogelesang.