The Canadian Securities Administrators has granted a series of exemptions from registration requirements introduced as part of the registration reform that was implemented last fall.

CSA Staff Notice 31-315 notice summarizes the orders, which will take effect on February 26.

In the notice, the CSA explains that since the registration reform came into force it has received applications requesting exemptions from certain provisions.

CSA members have issued orders that provide:

• the continuation of transition/grandfathering provisions for firms an individuals adding a jurisdiction;

• relief from the chief compliance officer proficiency requirements for portfolio managers adding a category;

• relief from proficiency requirements for portfolio managers adding registration in the mutual fund dealer or exempt market dealer category;

• relief from the time limits on examination requirements for dealing representatives of exempt market dealers (in Ontario and Newfoundland and Labrador only) and scholarship plan dealers in all jurisdictions;

• relief from client notification requirements for certain Canadian registrants with head offices outside of the local jurisdiction; and,

• relief from requirements to establish whether a client is an insider for mutual fund dealers.

IE