MSC NOTICE 2002-46 NOTICE OF RULE UNDER THE SECURITIES ACT AND THE COMMODITY FUTURES ACT MULTILATERAL INSTRUMENT 33-109 AND COMPANION POLICY 33-109CP REGISTRATION INFORMATION Introduction The Commission has, under section 149.1 of The Securities Act and section 71 of The Commodity Futures Act (collectively, the "Act"), made Multilateral Instrument 33-109. The instrument will come into force on February 21, 2003. Purpose The purpose of the instrument is to consolidate and harmonize requirements regarding the initial submission of registration information and the updating of that information. Background On December 14, 2001, the Canadian Securities Administrators published for comment drafts of the instrument and companion policy. On June 14, 2002, the CSA republished for comment amended drafts of the instrument and companion policy, together with a summary of the comments received during the first comment period and our responses. During the second comment period we received 5 submissions. A summary of these comments, together with our responses, is contained in Appendix “A” to this notice. For additional background information on the instrument and companion policy as well as a detailed summary of the contents of the drafts of previously published materials, please refer to the notices that were published with those drafts. Summary of Changes Section 2.3 has been added to the instrument to clarify that an applicant for registration that is already registered under the Commodity Futures Act has more limited filing requirements. Subsection 5.1(4) has been added to provide that if one registered firm has provided a notice in respect of a non-registered individual, other firms that also sponsor the non-registered individuals are not required to provide the notice. The instrument is scheduled to come into force on February 21, 2003. The June 2002 draft proposed an effective date of November 20, 2002.
The companion policy has been amended to clarify that if a person or company is required to make a submission under both The Securities Act and The Commodity Futures Act with respect to the same information, the Commission is of the view that a single filing on the required form satisfies both legal requirements. Questions Please refer your questions to any of: Douglas R. Brown Counsel Manitoba Securities Commission (204) 945-0605 DouBrown@gov.mb.ca Dirk de Lint Legal Counsel Ontario Securities Commission (416) 593-8090 ddelint@osc.gov.on.ca Kathleen Blevins Legal Counsel Alberta Securities Commission (403) 297-3308 kathleen.blevins@seccom.ab.ca Anthony Wong Senior Legal Counsel, Legal and Market Initiatives British Columbia Securities Commission (604) 899-6777 awong@bcsc.bc.ca The text of the instrument and companion policy follow. DATED: December 6, 2002 Page 2
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.