On May 2, 2019 the Canadian Securities Administrators (“CSA”) published a CSA Notice and Request for Comment introducing the National Systems Renewal Program (“NSPR”) aimed at developing a new centralized information technology system (the “Renewed System”) to replace various local records filing systems, as well as the System for Electronic Development Analysis and Retrieval (“SEDAR”),…
I initially wrote the below article on March 19, 2014. On August 18, 2018, the securities regulatory authorities of British Columbia, Manitoba, Nunavut, the Northwest Territories, and Yukon (the “participating jurisdictions”) announced that they will revoke their local orders that form the “Northwestern Exemption”. Alberta and Saskatchewan are still considering whether to revoke their local…
If you haven’t already heard, the securities regulatory authorities of British Columbia, Manitoba, Nunavut, the Northwest Territories, and Yukon (the participating jurisdictions) announced that they will revoke their substantially harmonized registration exemptions that form the “Northwestern Exemption” (the local orders). This announcement was made in Multilateral CSA Notice 32-302 (the Notice) Notice of Revocation for…
The Pacific Capital Markets Association published this article called, “How Bitcoin is revolutionizing the investment space” on November 20, 2017. The article provides an overview of Bitcoin’s history, investing in Bitcoin and its safety. This article contains general information only and is not intended to provide a legal opinion or advice. Please consult a…
The BC Securities Commission posted the below press release on its website on September 6, 2017. It announces the the first registration allowing the operation of a bitcoin investment fund. The British Columbia Securities Commission (BCSC) announced the first registration of an investment fund manager in Canada solely dedicated to cryptocurrency investments. The BCSC has…
CSA Announces Limited Extension for Certain CRM 2 Requirements for Dealers and Advisers In an announcement made yesterday by Bill Rice, Chair of the Canadian Securities Administrators (CSA), the CSA has decided: The July 15, 2015 requirements applicable to registered dealers and advisers will be delayed until December 31, 2015. This means that the new…
The Canadian Securities Administrators (the “CSA”) and the Ontario Securities Commission (the “OSC”) recently introduced amendments to the exempt market dealer (“EMD”) registration category. Some of these amendments will undoubtedly make it more difficult for EMDs to become registered or restrict their business activities. Experience As of January 11, 2015, the chief compliance officer (“CCO”)…
When National Instrument 31-103 – Registration Requirements, Exemptions and Ongoing Registrant Obligations (“NI 31-103”) came into force, it introduced a new category of registration for firms. NI 31-103 requires all managers, whether persons or companies, of investment funds to register as an Investment Fund Manager (“IFM”) unless an exemption is available. IFMs direct the business,…