National Registration Database – dual registered firms can now register with one NRD number
Dear Ultimate Designated Person and/or Chief Compliance Officer,
We are writing to inform you of recent changes deployed on the National Registration Database (NRD). In partnership with the Canadian Securities Administrators (the CSA), including the CSA IT Systems Office, and the New Self-Regulatory Organization of Canada (the New SRO), we have eliminated previous systems limitations and are now able to register dual registered firms with one NRD number.
If you have any questions or are interested in applying for registration as a dual registered firm, please contact your principal regulator and the New SRO.
On December 8, 2022, we sent you an email that provided information on how to become registered as both an investment dealer and mutual fund dealer (dual registered firms) and a link to a Dual Registered Firm Guide. Among other information, the guide explained that, due to limitations with NRD, a dual registered firm would be required to operate with two NRD numbers. The Dual Registered Firm Guide included information on applying for registration as a dual registered firm and the filing obligations associated with National Instrument 33-109 Registration Information and its associated forms on NRD.
Because we are now able to register dual registered firms with one NRD number, we are withdrawing the Dual Registered Firm Guide. We will be publishing a new guide in the next few months.
Steps associated with becoming a dual registered Member Firm with the New SRO can be found here.