THE SECURITIES ACT ) Order No. 6071 ) Section 20(1) and National Instrument 31-103 ) February 26, 2010 Registration Requirements and Exemptions ) National Instrument 31-103 Registration Requirements and Exemptions Exemption from certain sections in connection with transition and grandfathering matters BLANKET ORDER 31-512 Interpretation Unless otherwise defined in this decision or the context otherwise requires, terms used in this decision that are defined in NI 31-103 or National Instrument 14-101 Definitions have the same meaning. WHEREAS 1. Certain provisions of Part 16 of NI 31-103, certain sections of that Instrument apply to a person or company registered on September 28, 2009 in a jurisdiction but do not apply to a person or company in any jurisdiction where the person or company was not registered on September 28, 2009. 2. A person or company not registered in Manitoba on September 28, 2009 is not exempt from that same section of NI 31-103 in Manitoba. The Commission is of the opinion that it would not be prejudicial to the public interest to make the order requested. IT IS ORDERED: 1. THAT Under s. 20(1) of the The Securities Act, R.S.M. 1988, c. S50, subject to paragraph 2 below, the sections of NI 31-103 listed in Appendix A do not apply if the following conditions apply: (a) the person or company has been continuously registered in another jurisdiction of Canada since NI 31-103 came into force; (b) the person or company remains registered in the jurisdiction referred to in paragraph (a) during their reliance on this exemption; 500-400 St. Mary Avenue, Winnipeg, Manitoba R3C 4K5 • tel: (204) 945.2548 • fax: (204) 945.0330 • www.msc.gov.mb.ca
(c) the person or company is registered in Manitoba after September 28, 2009 in the same category and, in the case of a registered individual, with the same sponsoring firm as the individual is registered in the jurisdiction referred to in paragraph (a); and (d) the person or company is exempt from the same section of NI 31-103 in the jurisdiction referred to in paragraph (a) due to the application of one of the following sections: (i) paragraphs (2) and (3) of section 16.9 [registration of chief compliance officers]; (ii) paragraphs (1) and (2) of section 16.10 [proficiency for dealing and advising representatives]; (iii) section 16.11 [capital requirements]; (iv) section 16.13 [insurance requirements]; (v) section 16.14 [relationship disclosure information]; (vi) section 16.15 [referral arrangements]; (vii) section 16.16 [complaint handling]; (viii) section 16.17 [client statements – mutual fund dealers]. 2. Paragraph 1 does not apply where the person or company was, immediately prior to NI 31-103 coming into force, registered solely as: (a) a limited market dealer or a salesperson, officer, partner or director of a limited market dealer in Ontario; or (b) a limited market dealer or a sales person, officer or partner of a limited market dealer in Newfoundland and Labrador. 3. This order will come into effect on February 26, 2010. BY ORDER OF THE COMMISSION "Chris Besko" Deputy Director
Appendix A (a) Each section of Divisions 1 and 2 [proficiency] of Part 3 (b) Section 12.1 [capital requirements] (c) Section 12.2 [notifying the regulator of a subordination agreement] (d) Section 12.3 [insurance - dealer] (e) Section 12.4 [insurance - adviser] (f) Section 12.5 [insurance – investment fund manager] (g) Section 12.6 [global bonding or insurance] (h) Section 12.7 [notifying the regulator of a change, claim or cancellation] (i) Section 14.2 [relationship disclosure information] (j) Each section of Division 3 [referral arrangements] of Part 13 (k) Section 13.16 [dispute resolution service] (l) Section 14.14 [client statements]
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