The Canadian Securities Administrators say that registration reform is going to take longer than expected.

In a notice published Friday, the CSA reports that it had been targeting March 30, 2009 as the target date for implementation of registration reform.

“We now wish to inform stakeholders that we need more time to develop the final proposal,” it says, adding that the CSA now expects to complete its work on the proposal by the end of April 2009, “at which time we will be in a position to provide a timetable for implementation.”

The CSA reports that it received over 300 comment letters on the latest version of the proposal, which was released at the end of February. “Industry participation continues to be extremely helpful to us in the development of [the proposal],” it says. “We are currently considering the comments, reviewing issues relating to our proposals and drafting the requisite documents.”

IE