Firms and individuals may apply to the Ontario Securities Commission (OSC) to voluntarily surrender their registration. Generally, we will accept the surrender and terminate the registration if all financial obligations to clients have been met and it is not contrary to the public interest.
Under Ontario’s Securities Act and Commodity Futures Act, firms must submit a request in writing to the OSC to surrender their registration in a category or jurisdiction, or to fully surrender their registration in all categories and jurisdictions.
We may accept the surrender if all of the following conditions have been satisfied:
- the firm has discharged all financial obligations to its clients under the category of registration in the jurisdiction
- the firm has met all requirements for the surrender of registration
- the surrender would not be contrary to the public interest
To fully surrender their registration in all jurisdictions, individuals must complete Form 33-109F1 Notice of Termination of Registered Individuals and Permitted Individuals. The sponsoring firm must then submit the form through the National Registration Database (NRD).
To surrender their registration in one or more categories and jurisdictions, individuals must complete Form 33-109F2 Change or Surrender of Individual Categories. The sponsoring firm must then submit the form through the National Registration Database (NRD).
To surrender registration under Ontario’s Commodity Futures Act, individuals must complete Form 33-506F1 Notice of Termination of Registered Individuals and Permitted Individuals and the sponsoring firm must submit the form through NRD.
Additional information is available in National Instrument 31-103 Registration Requirements Exemptions and Ongoing Registrant Obligations (NI-103) and its Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations.