Our role in supporting the implementation of the Client Focused Reforms

The Canadian Securities Administrators (CSA) as well as the Investment Industry Regulatory Organization of Canada (IIROC ) and the Mutual Fund Dealers Association of Canada (MFDA and together with IIROC, the SROs) established the CFRs Implementation Committee (the Committee) that considered operational challenges industry stakeholders were facing when implementing the Client Focused Reforms (CFRs).

We have compiled a list of questions received by the Committee to date and have set out our responses to provide guidance to registrants (see Frequently Asked Questions).

Where to find a copy of the CFRs?

The CSA first published the CFRs on October 3, 2019, making significant amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations.

For further reference, the amendments are available on websites of CSA jurisdictions.