Securities Law & Instruments

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AMENDMENTS TO NATIONAL INSTRUMENT 33-109 REGISTRATION INFORMATION


1.             National Instrument 33-109 Registration Information is amended by this Instrument.

2.             Schedule C of Form 33-109F6 Firm Registration is amended, under the heading “Schedule 1 of Form 31-103F1 Calculation of Excess Working Capital”, by replacing subparagraph (a)(i) with the following:

(i)            Bonds, debentures, treasury bills and other securities of or guaranteed by the Government of Canada, of the United Kingdom, of the United States of America or of any other national foreign government (provided those foreign government securities have a current credit rating described in subparagraph (i.1)) maturing (or called for redemption):

 

within 1 year:

1% of fair value multiplied by the fraction determined by
dividing the number of days to maturing by 365

over 1 year to 3 years:

1% of fair value

over 3 years to 7 years:

2% of fair value

over 7 years to 11 years:

4% of fair value

over 11 years

4% of fair value

 

(i.1)         A credit rating from a designated rating organization listed below, from a DRO affiliate of an organization listed below, from a designated rating organization that is a successor credit rating organization of an organization listed below or from a DRO affiliate of such successor credit rating organization, that is the same as one of the following corresponding rating categories or that is the same as a category that replaces one of the following corresponding rating categories:

 

Designated Rating Organization

Long Term Debt

Short Term Debt

DBRS Limited

AAA

R-1(high)

Fitch Ratings, Inc.

AAA

F1+

Moody’s Canada Inc.

Aaa

Prime-1

S&P Global Ratings Canada

AAA

A-1+

 

3.             This Instrument comes into force on June 12, 2018.