Securities Law & Instruments

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CSA Staff Notice 11-331
Extension of Consultation Period
Consultation Paper 33-404
Proposals to Enhance the Obligations of Advisers, Dealers,
and Representatives toward their Clients

July 25, 2016

On April 28, 2016 the Canadian Securities Administrators (the CSA, us or we) published for comment Consultation Paper 33-404 Proposals to Enhance the Obligations of Advisers, Dealers, and Representatives Toward Their Clients (the Consultation Paper).  The Consultation Paper discusses the proposed regulatory action aimed at enhancing the obligations that advisers, dealers and representatives (registrants) owe to their clients and is the result of continuing CSA work, including consultations and research on the relationship between clients and registrants. 

The comment period is scheduled to close on August 26, 2016.  We have received feedback from several stakeholders that it would be beneficial for stakeholders to have additional time to review the Consultation Paper and prepare comments.  The CSA is committed to having a productive consultation process and receiving specific input on the proposals and alternatives. We therefore are extending the comment period from August 26, 2016 to September 30, 2016.

The CSA also plans to hold roundtables with market participants in fall 2016, to discuss issues raised in comment letters.

Questions

If you have any comments or questions, please contact any of the CSA staff listed below.

Jason Alcorn
Senior Legal Counsel
Financial and Consumer Services Commission of New Brunswick
Tel: 506-643-7857
jason.alcorn@fcnb.ca

Jane Anderson
Director, Policy & Market Regulation and Secretary to the Commission
Nova Scotia Securities Commission
Tel: 902-424-0179
jane.anderson@novascotia.ca

Chris Besko
Director, General Counsel
The Manitoba Securities Commission
Tel: 204-945-2561
Toll Free (Manitoba only): 1-800-655-5244
chris.besko@gov.mb.ca

Sarah Corrigall-Brown
Senior Legal Counsel, Capital Markets Regulation
British Columbia Securities Commission
Tel: 604-899-6738
scorrigall-brown@bcsc.bc.ca

Debra Foubert
Director
Compliance and Registrant Regulation
Ontario Securities Commission
Tel: 416-593-8101
dfoubert@osc.gov.on.ca

Noémie C. Girard
Analyste à l’encadrement des intermédiaires
Autorité des marchés financiers
Tel: 418-525-0337, ext. 4806
Toll Free: 1-877-525-0337
noemie.corneau-girard@lautorite.qc.ca

Sophie Jean
Directrice de l’encadrement des intermédiaires
Autorité des marchés financiers
Tel: 514-395-0337, ext. 4801
Toll Free: 1-877-525-0337
sophie.jean@lautorite.qc.ca

Liz Kutarna
Deputy Director, Capital Markets
Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
Tel: 306-787-5871
liz.kutarna@gov.sk.ca

Bonnie Kuhn
Manager, Legal
Market Regulation
Alberta Securities Commission
Tel: 403-355-3890
bonnie.kuhn@asc.ca

Maye Mouftah
Senior Legal Counsel
Compliance and Registrant Regulation
Ontario Securities Commission
Tel: 416-593-2358
mmouftah@osc.gov.on.ca

Sonne Udemgba
Deputy Director, Legal
Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
Tel: 306-787-5879
sonne.udemgba@gov.sk.ca