Garth Foster

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On December 1, 2016, the Alberta Securities Commission (ASC) will be replacing the current fee rule in Alberta with ASC Rule 13-501 Fees (ASC Rule 13-501) which will increase registrant and capital market activity fees, and for the first time in Alberta, will introduce a participation fee model. Any issuers that are currently a reporting issuer in Ontario are already familiar with the concept of a participation fee.  The participation fee is an annual payment…
The OSC has published decisions relating to certain relief from the CRM2 requirements that were to come into effect during 2015 and 2016.  The relief is consistent with that set out in CSA Staff Notice 31-341 – Omnibus/Blanket Orders Exempting Registrants from Certain CRM2 Provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. The OSC also issued an e-mail blast to registrants advising them that the CSA plans to amend NI 31-103…
The OSC recently issued an e-mail blast to registrants advising them of certain CSA relief expected from the CRM2 requirements coming into effect later this year and in 2016.  The OSC advised firms that permanent relief from certain CRM2 requirements is expected to be formally published by the CSA later this month.  IIROC and the MFDA will each amend their rules to align with the CSA relief. The relief is expected to include the following:…
Fasken Martineau souhaite rappeler aux courtiers et conseillers inscrits des modifications apportées au Règlement 31-103 sur les obligations et dispenses d’inscription et les obligations continues des personnes inscrites (le Règlement 31-103). Ces modifications sont entrées en vigueur le 1er mai 2014. Pour obtenir de plus amples renseignements au sujet de ces modifications, consultez notre bulletin récent, Entrée en vigueur de nouvelles exigences en matière de règlement des différends pour les sociétés inscrites et/ou téléchargez la présentation de la Commission…
Fasken Martineau reminds registered dealers and advisors of recent amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registration Obligations (NI 31-103) which came into force on May 1st, 2014. Learn more from our recent bulletin Coming into force of Dispute Resolution Requirements for Registered Firms and/or download the NI 31-103 Regulatory Update presentation led by the Ontario Securities Commission and the British Columbia Securities Commission on certain NI 31-103 and other pending regulatory issues…
The CSA announced further changes to NI 31-103 in order to streamline and increase efficiency, with comments due by March 5, 2014.    These changes include the following: Providing guidance on proficiency requirements for those individuals applying as an associate advising representative or as an advising representative Providing guidance on the experience required of a chief compliance officer of a dealer Restricting the activities that an exempt market dealer can do Providing guidance on conflicts of…
The Canadian Securities Administrators (CSA) published proposed amendments to National Instrument 33-105 Underwriting Conflicts (NI 33-105) last week which will remove in certain instances the need for foreign issuers to provide a Canadian wrapper when distributing foreign securities on an exempt basis to Canadian permitted clients.   The comment period on the proposed amendments ends on February 26, 2014.   The CSA have also proposed other amendments to provide exemptions from other securities law disclosure requirements.  Please…