Ontario’s finance minister has approved the new registration reform rules, and changes to an array of existing rules, in anticipation of the new registration regime.

The Ontario Securities Commission reports that the province’s Minister of Finance approved the new registration rule, and amendments to related instruments.

The final rules were published on July 14, and take effect Sept. 28, 2009, “assuming that the requisite provisions of the Budget Measures Act, 2009 are proclaimed in force by then”.

The OSC notes that Ontario Finance staff have recommended that the requisite provisions of the Budget Measures Act, 2009 be proclaimed in force on Sept. 28. “In which case, the rules and amendments would take effect on [that date],” it says.

The new regime reflects a major overhaul that will rationalize and harmonize the categories of registration, impose new obligations on certain market players (such as fund managers) that haven’t previously been registered, and revise the obligations facing existing registrants.

IE