• Frequently Asked Questions: Regulation 31-103 respecting Registration Requirements and Exemptions and Related Regulations - Consolidated version as of February 5, 2010 

The Autorité des marchés financiers (the “Authority”) is actively taking part in the registration reform project undertaken by the Canadian Securities Administrators (CSA).  The project, which is being implemented through draft Regulation 31-103 respecting registration requirements (“Regulation 31-103”), seeks to harmonize, streamline and modernize the registration regime across Canada.  The objective of Regulation 31-103 is to create a flexible regime leading to administrative efficiencies and reduced regulatory burden for registrants.

• CSA Staff Notice 31-310: Proposed Regulation 31-103 respecting Registration Requirements and Proposed Policy Statement to Regulation 31-103 respecting Registration Requirements
   
• CSA Staff Notice 31-311: Draft Regulation 31-103 respecting Registration Requirements and Exemptions - Transition into the New Registration Regime
   
• CSA Staff Notice 31-312 : The Exempt Market Dealer Category under Regulation 31-103 respecting Registration Requirements and Exemptions
    
• CSA Staff Notice 31-313: Regulation 31-103 respecting Registration Requirements and Exemptions and Related Regulations - Frequently Asked Questions as of December 18, 2009
   
• CSA Staff Notice 31-314: Regulation 31-103 respecting Registration Requirements and Exemptions and Related Regulations - Frequently Asked Questions as of February 5, 2010
   
• CSA Staff Notice 31-315: Omnibus / blanket orders exempting registrants from certain provisions of Regulation 31-103 respecting Registration Requirements and Exemptions
• • Décision générale visant le maintien des dispositions transitoires prévues à la Partie 16 du Règlement 31-103 sur les obligations et dispenses d’inscription à l’égard d’une personne inscrite ajoutant un territoire (2010-PDG-0039)
    (Available in French only)
  • Décision générale relative à la dispense de l’application des exigences de compétencedu chef de la conformité au bénéfice des gestionnaires de portefeuille ajoutant une catégorie d’inscription (2010-PDG-0040)
    (Available in French only)
  • Dispense des exigences de compétence au bénéfice des représentants-conseil de gestionnaires de portefeuille ajoutant la catégorie de courtier en épargne collective ou de courtier sur le marché dispensé (2010-PDG-0041)
    (Available in French only)
  • Décision générale relative à la dispense de l’application de l’article 3.3 du Règlement 31-103 sur les obligations et dispenses d’inscription au bénéfice des représentants de courtiers en plans de bourses d’études (2010-PDG-0042)
    (Available in French only)
  • Décision générale relative à la dispense de l’application de l’article 14.5 du Règlement 31-103 sur les obligations et dispenses d’inscription au bénéfice de certaines personnes inscrites au Canada (2010-PDG-0043) 
    (Available in French only)
  • Décision générale relative à la dispense de l’application du sous-paragraphe b) du paragraphe 2) de l’article 13.2 du Règlement 31-103 sur les obligations et dispenses d’inscription au bénéfice des courtiers en épargne collective (2010-PDG-0044) (Available in French only)
       
• General registration exemption order for foreign sub-advisers (sections 148 and 149 of the Securities Act) 
      

PHASES OF THE PROJECT

The project includes several phases:

1. implementation of the national registration system, which was effective April 2005;
2. publication of draft Regulation 31-103 on February 20, 2007, for consultation until June 30, 2008;
3. publication, on February 29, 2008, of an amended draft of Regulation 31-103 for consultation until May 24, 2008;
4. publication of amendments to SRO rules toward the implementation of core client relationship principles.

DOCUMENTS FOR CONSULTATION
  

Publication dated September 25, 2009:

• Regulation 31-103 respecting Registration Requirements and Exemptions
• Policy Statement to Regulation 31-103 respecting Registration Requirements and Exemptions
• Concordant Regulations to Regulation 31-103 respecting Registration Requirements and Exemptions under the Securities Act (including 31-102 and 33-109)
• Concordant Policy Statement arising from Regulation 31-103 respecting Registration Requirements and Exemptions (including 31-102 and 33-109)
• Concordant Regulations to Regulation 31-103 respecting Registration Requirements and Exemptions under the Derivatives Act
• Concordant Regulations to Regulation 31-103 respecting Registration Requirements and Exemptions under the Act respecting the Distribution of Financial Products and Services

Publication dated July 17, 2009:

• Notice of publication : Regulation 31-103 respecting Registration Requirements and Exemptions
• Regulation 31-103 respecting Registration Requirements and Exemptions
• Policy Statement to Regulation 31-103 respecting Registration Requirements and Exemptions
• Concordant Regulations to Regulation 31-103 respecting Registration Requirements and Exemptions
• Concordant Regulations to Regulation 31-103 respecting Registration Requirements and Exemptions (Request for comments)
• Publication Notice: Regulation to amend Regulation 31-102 respecting National Registration Database and Regulation 33-109 respecting Registration Information
• Regulation to amend Regulation 31-102 respecting National Registration Database
• Policy Statement to Regulation 31-102 respecting National Registration Database
• Regulation 33-109 respecting Registration Information
• Policy Statement to Regulation 33-109 respecting Registration Information
   

Publication dated November 14, 2008:

• CSA Staff Notice 31-309 - Proposed National Instrument 31-103 Registration Requirements and Proposed Companion Policy 31-103cp Registration Requirements

Publication dated February 29, 2008:

• Draft Regulation 31-103 — Web version of the February 29, 2008 Consultation Notice
• Regulatory Notice : Regulation 31-103 respecting Registration Requirements
• Request of Comment : Regulation 31-103 respecting Registration Requirements
• Regulation 31-103 respecting Registration Requirements
• Policy Statement to Regulation 31-103 respecting Registration Requirements
• Regulatory Notice : Concordant Regulations to Regulation 31-103 respecting Registration Requirements
• Concordant Regulations to Regulation 31-103 respecting Registration Requirements
• Regulatory Notice : Regulation to amend Regulation 31-102 respecting National Registration Database
• Regulatory Notice : Regulation 33-109 respecting Registration Information
• Request of Comment : Regulation to amend Regulation 31-102 respecting National Registration Database and Regulation 33-109 respecting Registration Information
• Regulation to amend Regulation 31-102 respecting National Registration Database
• Policy Statement to Regulation 31-102 respecting National Registration Database
• Regulation 33-109 respecting Registration Information
• Policy Statement to Regulation 33-109 respecting Registration Information

Comments received :

Previous publications

Publication dated February 20, 2007:

• CSA Notice and Request for Comments dated February 20, 2007
• Draft Regulation 31-103 respecting registration requirements
• Draft Policy Statement to Regulation 31-103 respecting registration requirements
• Draft amendment to Form 33-109F1 – Notice of Termination
• Draft Form 33-109F4 – Application for Registration of Individuals and Permitted Individuals
• Draft Form 33-109F6 – Application for Registration as a Dealer, Adviser or Investment Fund Manager for Securities and/or Derivatives
• Table of concordance (available in French only)
• List of consequential amendments (available in French only)

• Proposal document on registration reform project – July 31, 2006 (available in French only)
• Proposal document on registration reform project – February 9, 2006 (available in French only)
• Staff notice on Policy Statement Q-9 Dealers, Advisers and Representatives – November 18, 2005 (available in French only)

Summary of comments received on February 20, 2007

Comments received:

Durind the first consultation period, the following organizations and individuals have provided comments to the AMF:

• Second consultation document on the regulatory framework applicable to the mutual fund sector — Web version of the Consultation Notice
• Second document for consultation (Revised version)

Feedback:
In connection with the second consultation on the regulatory framework applicable to the mutual fund sector in Québec further to the registration reform project, the following organizations and individuals have provided comments to the AMF:

Notice of publication of proposal document on the regulatory framework applicable to the mutual fund sector

Registration reform as proposed under draft Regulation 31-103 respecting registration requirements (“Regulation 31-103”) published on February 20, 2007 will have major impacts on the regulatory framework applicable to the mutual fund sector (also referred to as the group savings plan sector).  The Authority is therefore publishing a proposal document on the matter.

Consultation on the regulatory framework applicable to the mutual fund sector in Québec: comment period until May 25, 2007.
Consultation document on the regulatory framework applicable to the mutual fund sector — Web version of the Consultation Notice

• Document for consultation

The French version of the proposal document have also been published in the Authority’s Bulletin on February 23, 2007.

Feedback:
In connection with the consultation on the regulatory framework applicable to the mutual fund sector in Québec further to the registration reform project, the following organizations and individuals have provided comments to the AMF: