Supplement to the OSC Bulletin

The Ontario Securities Commission

NOTICE AND REQUEST FOR COMMENTS

PROPOSED AMENDMENTS TO NATIONAL INSTRUMENT 31-103, NATIONAL INSTRUMENT 33-109

AND ONTARIO SECURITIES COMMISSION RULE 33-506

Supplement to the OSC Bulletin

June 25, 2010

Volume 33, Issue 25 (Supp-2)

(2010), 33 OSCB

The Ontario Securities Commission administers the Securities Act of Ontario (R.S.O. 1990, c. S.5) and the Commodity Futures Act of Ontario (R.S.O. 1990, c. C.20)

The Ontario Securities Commission Cadillac Fairview Tower Suite 1903, Box 55 20 Queen Street West Toronto, Ontario M5H 3S8

416-593-8314 or Toll Free 1-877-785-1555

Published under the authority of the Commission by:

Carswell, a Thomson Reuters business One Corporate Plaza 2075 Kennedy Road Toronto, Ontario M1T 3V4

416-609-3800 or 1-800-387-5164

Contact Centre - Inquiries, Complaints: Market Regulation Branch: Compliance and Registrant Regulation Branch

- Compliance: - Registrant Regulation: Corporate Finance Branch - Team 1: - Team 2: - Team 3: - Insider Reporting: - Mergers and Acquisitions: Enforcement Branch: Executive Offices: General Counsel's Office: Office of the Secretary:

Fax: 416-593-8122 Fax: 416-595-8940

Fax: 416-593-8240 Fax: 416-593-8283

Fax: 416-593-8244 Fax: 416-593-3683 Fax: 416-593-8252 Fax: 416-593-3666 Fax: 416-593-8177 Fax: 416-593-8321 Fax: 416-593-8241 Fax: 416-593-3681 Fax: 416-593-2318

The OSC Bulletin is published weekly by Carswell, a Thomson Reuters business, under the authority of the Ontario Securities Commission.

Subscriptions are available from Carswell at the price of $649 per year.

Subscription prices include first class postage to Canadian addresses. Outside Canada, these airmail postage charges apply on a current subscription:

U.S. Outside North America

$175 $400

Single issues of the printed Bulletin are available at $20 per copy as long as supplies are available. Carswell also offers every issue of the Bulletin, from 1994 onwards, fully searchable on SecuritiesSourceTM, Canada's pre-eminent web-based securities resource. SecuritiesSourceTM also features comprehensive securities legislation, expert analysis, precedents and a weekly Newsletter. For more information on SecuritiesSourceTM, as well as ordering information, please go to:



or call Carswell Customer Relations at 1-800-387-5164 (416-609-3800 Toronto & Outside of Canada).

Claims from bona fide subscribers for missing issues will be honoured by Carswell up to one month from publication date.

Space is available in the Ontario Securities Commission Bulletin for advertisements. The publisher will accept advertising aimed at the securities industry or financial community in Canada. Advertisements are limited to tombstone announcements and professional business card announcements by members of, and suppliers to, the financial services industry.

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the publisher.

The publisher is not engaged in rendering legal, accounting or other professional advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought.

? Copyright 2010 Ontario Securities Commission ISSN 0226-9325 Except Chapter 7 ?CDS INC.

One Corporate Plaza 2075 Kennedy Road Toronto, Ontario M1T 3V4

Customer Relations Toronto 1-416-609-3800 Elsewhere in Canada/U.S. 1-800-387-5164

Fax 1-416-298-5082

Email email

NOTICE AND REQUEST FOR COMMENTS

PROPOSED AMENDMENTS TO NATIONAL INSTRUMENT 31-103, NATIONAL INSTRUMENT 33-109

AND ONTARIO SECURITIES COMMISSION RULE 33-506

TABLE OF CONTENTS

CSA Notice and Request for Comments ? National Instrument 31-103 Registration Requirements and Exemptions, National Instrument 33-109 Registration Information and to Related Policies and Forms............................................................... 1

Appendix A:

Amendments to National Instrument 31-103 Registration Requirements And Exemptions.............................................. 18

Appendix B:

National Instrument 31-103 Registration Requirements And Exemptions, Blacklined To Show Changes To N 31-103 ................... 32

Appendix C:

Companion Policy 31-103 Registration Requirements and Exemptions, Blacklined to Show Changes to the Current Companion Policy 31-103CP ...................................................................... 107

Appendix E:

Amendments To National Instrument 33-109 Registration Information ............................................................................. 157

Appendix F:

National Instrument 33-109 Registration Information, Blacklined To Show Changes To NI 33-109............................................... 166

Appendix G:

Companion Policy 33-109CP Registration Information, Blacklined To Show Changes To The Current Companion Policy 33-109CP............................................ 260

Appendix H:

CSA Staff Notice 31-315 Omnibus / Blanket Orders Exempting Registrants From Certain Provisions Of National Instrument 31-103 Registration Requirements And Exemptions........................................................................................... 269

Notice of and Request for Comment on Proposed Amendments to OSC Rule 33-506 (Commodity Futures Act) Registration Information ............................................ 273

June 25, 2010

(2010) 33 OSCB (Supp-2)

NOTICE AND REQUEST FOR COMMENTS

PROPOSED AMENDMENTS TO NATIONAL INSTRUMENT 31-103, NATIONAL INSTRUMENT 33-109

AND ONTARIO SECURITIES COMMISSION RULE 33-506

NOTICE OF AND REQUEST FOR COMMENT ON PROPOSED AMENDMENTS TO

NATIONAL INSTRUMENT 31-103 REGISTRATION REQUIREMENTS AND EXEMPTIONS,

NATIONAL INSTRUMENT 33-109 REGISTRATION INFORMATION

AND TO RELATED POLICIES AND FORMS

Introduction

The Canadian Securities Administrators (the CSA or we) are seeking comments on proposals to amend the current regulatory framework for dealers, advisers and investment fund managers contained in National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103 or the Rule) and in Companion Policy 31-103 CP Registration Requirements and Exemptions (the Companion Policy). We refer to the Rule and Companion Policy as the "Instrument".

The Instrument, together with amendments to National Instrument 31-102 National Registration Database (NI 31-102) and to National Instrument 33-109 Registration Information (NI 33-109), came into force on September 28, 2009 and introduced a new national registration regime that is harmonized, streamlined and modernized.

We indicated in the Notice dated July 17, 2009 (the 2009 Notice) that we would propose amendments to the Instrument if investor protection, market efficiency or other regulatory concerns arose. We are now proposing amendments following our monitoring of the implementation of the Instrument and our continuing dialogue with stakeholders about questions and concerns that have arisen with practical experience of working with the Instrument.

We are also seeking comments on proposals to amend NI 33-109, as well as related policies and forms (collectively, the NRD Amendments). We are not proposing amendments to NI 31-102.

The proposed amendments are indicated in the appendices to this Notice and the more significant among them are summarized below. We are soliciting comments on all of the proposed amendments, as well as some additional proposals that are discussed in this Notice.

We think the effect of the amendments we are proposing, which range from technical adjustments to more substantive matters, would be to enhance investor protection and improve the day-to-day operation of the Instrument for both industry and regulators.

The comment period will end on September 30, 2010.

June 25, 2010

1

(2010) 33 OSCB (Supp-2)

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download