The National Registration Databasewill be launched with tombstone data for registered firms and individuals, says the Investment Dealers Association. It will take three weeks to convert data from the legacy systems of the IDA and Canadian Securities Administrators to the NRD. This work is scheduled to begin on March 6.

IDA registration staff is making efforts to reduce the number of outstanding applications to ensure that new approvals and changes to registration information get uploaded into NRD. In order to provide sufficient time to process applications prior to March 6, the IDA is requesting that all deficiencies be addressed by Feb. 14. Deficient applications submitted after this date may result in the member having to file the information through NRD.

To help manage the transition, NRD Rules will implement a registration freeze period starting March 7 and ending 5 days after a member gains access
to NRD. During this period members are exempt of most ongoing registration filing requirements. Any applications made to the IDA or CSA during this period will be required to be resubmitted through NRD within 5 to 30 days from the end of the freeze period.