The Saskatchewan Financial Services Commission has issued a staff notice that outlines changes to the registration process as a result of the new National Registration Database.

Under the rules, registered firms to deliver fees and specified documents to the SFSC by December 15 of each year. The process for annual filing of documents and payment of fees will change now that the National Registration Database is in operation. For example, annual fees will be paid through the NRD.

The notice describes the new procedure for the annual delivery of fees and documents in Saskatchewan under the NRD.

The Saskatchewan regulator says that by November 15, commission registration staff will send each firm a list of: its current registered individuals and their categories, the firm’s branch offices in Saskatchewan, and a calculation of the annual fees that are owing.

SFSC says that firms should review the list and strike out the names of individuals whose registrations not to be continued, and branches which are no longer open.

Firms should return the marked-up list of registered individuals, and a list of their non-trading officers, partners and directors by December 15

The regulator says that firms are responsible for deleting from the NRD individuals whose registration will not be continued or branches that are no longer open.

Firms should also ensure that their NRD account has sufficient funds on December 31 for NRD to withdraw the following annual fees: $750 for the firm, $250 for each of its registered individuals, and $100 for each of its Saskatchewan branches.

http://www.sfsc.gov.sk.ca/ssc/files/loc-noti/33-708.pdf