Email blast - Reminder: Deadline approaching for Form 33-109F4 questions requiring a response
Dear Ultimate Designated Person and/or Chief Compliance Officer,
The Canadian Securities Administrators (CSA) remind registrants of the June 6, 2023 deadline for filing updates to information for individual registrants or permitted individuals on the National Registration Database (NRD) under the amendments to National Instrument 33-109 Registration Information (NI 33-109) which came into force June 6, 2022.
These changes were adopted to help registrants provide current, accurate and complete registration information, while ensuring the CSA has the information it needs to carry out registrant oversight.
Firms and individuals are required to update on NRD all responses that state “there is no response to this question” by the earlier of: the date the registrant is next required to notify the regulator of a change to their registration and June 6, 2023 (the Deadline; see NI 33-109 section 4.3).
Two information items require answering by the Deadline as they were made on NRD to read “there is no response to this question” on June 6, 2022 in Form 33-109F4 Registration of Individuals and Review of Permitted Individuals (the Individual Registration Form):
- Business titles and professional designations: Item 10, question 3 (e) of Schedule G of the Individual Registration Form was a new question regarding titles and professional designations. This was the subject of an explanatory email on November 22, 2022.
- Non-securities regulation licenses: Item 13.3 (a) of Schedule J of the Individual Registration Form was a new question regarding license numbers where individuals had been licensed in a non-securities capacity to engage with the public.
Registrants must also update on NRD by the Deadline any items in the Individual Registration Forms that were historically reset on NRD to read “there is no response to this question” and have not since been answered.
Registrants are encouraged to submit their updates as soon as possible and not leave them too late.
As of February 23, 2023, two new standard reports are available within the NRD application to assist with updates:
- Reportable Activities Report
- List of Individuals with 33-109F4 Items Requiring a Response
User guides related to these new reports are available on the National Registration Database Information website: https://www.nrd-info.ca/nrdmanual/man_index.jsp?lang=en
The following additional resources are available to help registrants and their businesses regarding the amendments to NI 33-109 and implementing the required updates on NRD:
- Registration Information Amendments – December 16, 2021 - Annex C – Frequently asked questions on updating registration information on NRD: https://www.osc.ca/en/securities-law/instruments-rules-policies/3/33-109/registration-information-amendments-december-16-2021-annex-c-frequently-asked-questions-updating
- Implementation Guide: https://www.osc.ca/en/securities-law/instruments-rules-policies/3/33-109/guide-amendments-national-instrument-33-109-modernizing-registration-information-requirements
- Webinar on March 1, 2022 relating to the amendments: https://www.osc.ca/en/news-events/events/amendments-modernizing-registration-information-requirements-clarifying-outside-activity-reporting
- The amendments to NI 33-109 can be accessed here: https://www.osc.ca/en/securities-law/instruments-rules-policies/3/33-109/registration-information-amendments-december-16-2021-annex-f-blackline-showing-amendments-ni-33