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Registration in all Canadian jurisdictions

Registration rules and practices are complex, for both firms and individuals. Firms and individuals must meet the fit and proper standards in Provincial and SRO rules, which aren’t always uniform or uniformly applied.

In some cases it is necessary to apply for an exemption from the requirements. You need to know the criteria used by regulators to assess an exemption request to maximize your chances of a successful application. You also need to know when an application is likely to prove unsuccessful so you can avoid wasting time and money.

Meeting the fit and proper standards is not just an initial requirement. There are ongoing fit and proper requirements and failing to meet them could result in the regulator finding you not suitable for registration. This could lead to restrictions being imposed on your registration, suspension of your registration, or enforcement action.

We can help you with all aspects of registration:

  • Determining whether your need registration
  • Making the Initial application for registration
  • Determining whether an exemption is available
  • Drafting exemption applications
  • Making timely regulatory filings through the National Registration Database
  • Preparing submissions and support for hearings.

We can help you to comply with the rules, as we helped to write many of the rules.

 

Did you know?

Passport for registration (MI 11-102) is being implemented at the same time as the new Registration Rule (NI 31-103). Although Ontario is not participating there will be a procedural interface (NP 11-204) for Ontario. If the OSC is a firm’s principal regulator, approval by the OSC leads to automatic approval in all passport jurisdictions. If Ontario is a non-principal regulator, it will decide whether to opt in to recommendation made by the principal regulator.