Applying in more than one province or territory
Firms and individuals can apply for registration in more than one province or territory when they make their initial application for registration.
Applications to multiple jurisdictions by a firm for registration as a restricted dealer must be submitted separately to each regulator.
Applications for registration by a firm or individual under the Commodity Futures Act (Ontario) must also be submitted separately to each regulator.
Once registered in any jurisdiction, firms and individuals can apply to register in additional provinces or territories. For more information, see Changing Categories or Jurisdictions.
The process of registration under this system is set out in National Policy 11-204 Process for Registration in Multiple Jurisdictions. This system allows the firm to submit the application with its principal regulator, which reviews the application on behalf of the regulators in the other jurisdictions (the non-principal regulators). The firm or the individual’s sponsoring firm communicates only with the principal regulator.
If the OSC is the principal regulator, the application is processed under the passport system. The OSC conducts a review of the application and its decision is effective in the other jurisdictions.
If the OSC is not the principal regulator, the application is processed under the interface system. The principal regulator reviews the application and the OSC decides whether to opt in or opt out of the principal regulator’s decision. The OSC can perform its own review.
For more information:
- Multilateral Instrument 11-102 Passport System
- National Policy 11-204 Process for Registration in Multiple Jurisdictions