The long-awaited National Registration Database is delayed once again.

The Canadian Securities Administrators say they have decided not to launch the National Registration Database on November 25 in order to improve the functionality of the system. The launch of NRD is now scheduled for March 31, 2003. Beginning on that date, NRD will be available for the filing of registration information.

The National Registration Database team has, however, created a web site to serve as the main communications channel for NRD information. You can visit the site at www.nrd-info.ca and can sign up through the web site to receive e-mail updates about significant news, deadlines or new content added to the site.

The database has been designed to permit dealers and advisors to file registration forms electronically. It was hoped to take some weight off of the current paper-based system. NRD is also expected to make the registration process faster and more efficient, resulting in monetary savings for the financial services industry.