Source: http://249.110.46-69.q9.net/en/Dealers_applying_index.htm
Timestamp: 2018-01-16 21:18:09
Document Index: 338272946

Matched Legal Cases: ['art 7', 'art 1', 'art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9']

This section outlines the process for submitting initial registration applications for firms and individuals. You will also find information on how to apply in more than one province or territory.
National Registration Database Enrolment
Registration under the Securities Act (Ontario)
Registration only under the Commodity Futures Act (Ontario)
Completing and filing the firm registration application - Form 33-109F6 - Firm Registration
Application fees for firms
A firm applying for registration must enroll with the National Registration Database (NRD) to
obtain its NRD number as a first step in the application process. During the enrolment process you will acquire an NRD number, a user ID, and a password for the database.
NRD enables the firm to submit individual registration filings and select firm filings to the OSC electronically.
In order to enrol, you must complete and submit three NRD forms. On the NRD website, choose the “Enrolment” tab from the left-hand menu.
Information about NRD, NRD-related fees and electronic User Guide can be found below:
Information about NRD
NRD User Guide
OSC Rule 31-509 National Registration Database (Commodity Futures Act)
If the firm is applying for registration as a dealer, adviser or investment fund manager only in Ontario, complete Form 33-109F6 Firm Registration and submit it to the OSC.
Except for restricted dealers, firms must use the passport and interface system if they want to register in more than one province or territory:
If the OSC is the principal regulator, submit Form 33-109F6 and all supporting documents only to the OSC.
If the OSC is not the principal regulator, submit Form 33-109F6 and all supporting documents to the principal regulator and submit a copy of Form 33-109F6 to the OSC without the supporting documents.
A firm should also follow this process when applying simultaneously for registration under the Securities Act (Ontario) and the Commodity Futures Act (Ontario).
A firm applying to register as a restricted dealer cannot use the passport and interface system. The firm must submit a separate Form 33-109F6 to each regulator. For more information on restricted dealers, see Part 7 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
A firm seeking registration as an investment dealer or futures commission merchant must also apply separately with the Investment Industry Regulatory Organization of Canada (IIROC) to seek IIROC membership.
A firm seeking registration as a mutual fund dealer must also apply separately with the Mutual Fund Dealers Association of Canada (MFDA).
See below for guidance on how to complete and file the registration application Form 33-109F6.
If the firm is applying for registration only in Ontario, complete Form 33-506F6 Firm Registration and submit it to the OSC. Firms are not required to answer questions 1.4(a), 2.6 and 6.2 of the form.
If the firm wants to register in more than one province or territory, it must submit a separate application to each regulator.
Form 33-506F6 is completed in a similar manner to Form 33-109F6 for firms seeking registration under the Securities Act (Ontario). See below for guidance on how to complete and file the registration application Form 33-109F6.
Completing and filing the firm registration application – Form 33-109F6 – Firm Registration
For details on how to complete the registration application form, please refer to the Guide to Completing and Filing a Firm Registration Application (PDF).
When a firm has determined which category of registration they wish to apply under, they must complete and file the Form 33-109F6 Firm Registration.
Completing the firm registration application form (Form 33-109F6 Firm Registration)
If your firm is applying for registration in Ontario, you must complete Form 33-109F6 Firm Registration.
This form consists of the following areas:
Part 1 – Registration details
Part 2 – Contact information
Part 3 – Business history and structure
Part 4 – Registration history
Part 5 – Financial condition
Part 6 – Client relationships
Part 7 – Regulatory action
Part 8 – Legal action
Part 9 – Certification
Schedule A – Contact information for notice of collection and use of personal information
Schedule B – Submission to jurisdiction and appointment of agent for service
Schedule C – Form 31-103F1 Calculation of excess working capital
You are also required to submit the following supporting documents with your completed form:
1. Schedule B – Submission to jurisdiction and appointment of agent for service for each jurisdiction where the firm is seeking registration (question 2.4)
2. Business plan, policies and procedures manual, and client agreements (except in Ontario) (question 3.3)
3. Constating documents (question 3.7)
4. Organization chart (question 3.11)
5. Ownership chart (question 3.12)
6. Calculation of excess working capital (question 5.1)
7. Directors’ resolution approving insurance (question 5.7)
8. Audited financial statements (question 5.13)
9. Letter of direction to auditors (question 5.14)
Filing the registration application form (Form 33-109F6 Firm Registration)
Once the registration application form (Form 33-109F6) is completed, please submit Form 33-109F6 along with a business plan and other required documents mentioned in the Form 33-109F6 on the OSC's electronic filing portal.
Please ensure that all required supporting documents of Form 33-109F6 are submitted as part of the application in order to avoid delays.
You will be contacted by OSC Registration staff who will provide you with instructions on how to pay the new firm application fee.
The firm application fee for Ontario is $1,300 (regardless of number of categories).
Fees for firm registration applications are generally paid through the firm’s Electronic Fund Transfer account on the National Registration Database (NRD).
Where a firm is exempt from the requirement to pay fees through NRD, the firm will remit the fees via cheque or wire transfer.
If the firm is applying for registration in other jurisdictions, additional fees are required for those jurisdictions. A list of fees for each jurisdiction can be accessed here.
Completing and filing the individual registration application - Form 33-109F4 -
Registration of Individuals and Review of Permitted Individuals
Application fees for individuals
A firm must submit the appropriate individual application through the National Registration Database (NRD) for each individual applying for registration or approval as a permitted individual. This includes the individuals designated by the firm as chief compliance officer and ultimate designated person.
The firm must also pay a fee for each individual applying for registration. For more information, see Application fees for individuals.
Please note that incomplete or complex applications may lengthen the review process.
If the individual is applying for registration only in Ontario, complete Form 33-109F4 Registration of Individuals and Review of Permitted Individuals and submit it through NRD.
An individual applying for registration in more than one province or territory must use the passport and interface system. This process applies to all categories of registration, including restricted dealer and restricted portfolio manager.
An individual should also follow this process when applying simultaneously for registration under the Securities Act (Ontario) and the Commodity Futures Act (Ontario).
Applications for individuals who are applying for registration with an investment dealer are submitted through NRD and are reviewed by the Investment Industry Regulatory Organization of Canada (IIROC).
If the individual is applying for registration only in Ontario, complete Form 33-506F4 Registration of Individuals and Review of Permitted Individuals and submit it through NRD.
An individual applying for registration in more than one province or territory must submit a separate application to each regulator.
Completing and filing the individual registration application – Form 33-109F4 – Registration of Individuals and Review of Permitted Individuals
When an individual is seeking registration in individual categories or review as a permitted individual and has determined which category the individual wishes to apply under, the sponsoring firm must complete and file the Form 33-109F4 Registration of Individuals and Review of Permitted Individuals (Form 33-109F4) for the individual.
Completing and filing the individual registration application form (Form 33-109F4)
If you are applying for registration or permitted status in Ontario, you must complete Form 33-109F4. Form 33-109F4 is completed and submitted on the National Registration Database (NRD).
Item 1 – Name
Item 2 – Address
Item 3 – Personal information
Item 4 – Citizenship
Item 5 – Registration jurisdictions
Item 6 – Individual categories
Item 7 – Address for service
Item 8 – Proficiency
Item 9 – Location of employment
Item 10 – Current employment
Item 11 – Previous employment
Item 12 – Terminations
Item 13 – Regulatory disclosure
Item 15 – Civil disclosure
Item 17 – Ownership of securities
Item 18 – Agent for service
Item 19 – Submission to jurisdiction
Item 20 – Notice of collection and use of personal information
Item 21 – Warning
Item 22 – Certification
Any supporting documents obtained by the sponsoring firm as part of the hiring and review process should be maintained by the sponsoring firm. We may request a copy of the one or more documents as part of the review process. Supporting documents may include the following (if applicable):
Evidence of successful completion of courses, exams or designations
Referral letters from the individual’s prior employers outlining the responsibilities and other relevant securities industry experience.
Documents with respect to the following disclosures:
Financial (including bankruptcies, debt obligations, consumer proposals requirements to pay, garnishments, unsatisfied judgments and directions to pay)
For further details on how to complete the individual registration application form, please refer to the following NRD User Guide: http://nrd-info.ca/nrdmanual/man_index.jsp?lang=en
Once a firm application is filed, OSC Registration staff will notify you when to submit individual applications (Form 33-109F4 Registration of Individuals and Review of Permitted Individuals) for Permitted Individuals (see definition in NI 33-109), the Chief Compliance Officer, Ultimate Designated Person and any dealing or advising representatives.
For Ontario, the individual application fee is $200 per individual ($100 for individuals applying as a permitted individual only). In addition, the NRD Administrator will charge a NRD system fee in the amount of $75 for each individual.
Fees for individual registration applications are generally paid through the firm’s Electronic Fund Transfer account on the National Registration Database (NRD).
If the individual is applying for registration in other jurisdictions, additional fees are required for those jurisdictions. A list of fees for each jurisdiction can be accessed here.
Applying in more than one province or territory
Firms and individuals can apply for registration in more than one province or territory when they make their initial application for registration.
Except for restricted dealers, a firm applying for registration under the Securities Act (Ontario) in more than one province or territory should use the passport and interface registration system.
Applications to multiple jurisdictions by a firm for registration as a restricted dealer must be submitted separately to each regulator.
Applications for registration by a firm or individual under the Commodity Futures Act (Ontario) must also be submitted separately to each regulator.
Once registered in any jurisdiction, firms and individuals can apply to register in additional provinces or territories. For more information, see Changing Categories or Jurisdictions.
Passport and interface registration system
The process of registration under this system is set out in National Policy 11-204 Process for Registration in Multiple Jurisdictions. This system allows the firm to submit the application with its principal regulator, which reviews the application on behalf of the regulators in the other jurisdictions (the non-principal regulators). The firm or the individual’s sponsoring firm communicates only with the principal regulator.
If the OSC is the principal regulator, the application is processed under the passport system. The OSC conducts a review of the application and its decision is effective in the other jurisdictions.
If the OSC is not the principal regulator, the application is processed under the interface system. The principal regulator reviews the application and the OSC decides whether to opt in or opt out of the principal regulator’s decision. The OSC can perform its own review.
National Policy 11-204 Process for Registration in Multiple Jurisdictions