New Dealer Registration

The regulation of Investment Dealers has been delegated to the Investment Industry Regulatory Organization of Canada (IIROC) in Toronto. All submissions are to be made directly to IIROC.  If IIROC Membership has not been granted, an Application for Membership must be submitted in conjunction with any firm registration application.

This document describes the basic requirements for registration in Newfoundland and Labrador. This document does not replace the necessity to seek legal advice. The service of a solicitor familiar with securities matters is recommended to assist with an application. 

In order to efficiently review the application for registration, we suggest that you follow the attached outline when completing your initial filing. This list does not preclude requests for additional clarification and/or information as necessary for registration.

Registration Process:

Step 1:

If the firm has never enrolled on the National Registration Database (NRD) system: enrollment with the NRD administrator will be required.  The three NRD enrollment forms, fees and other information required to enroll with the NRD administrator, is set out on the NRD information website at www.nrd-info.ca.  For additional assistance, call the NRD administrator help line:  1-800-219-5281.

If the firm has enrolled on the NRD system:  there is no need to enroll again.

Step 2:

Once the above has been completed, the following documents must be submitted as part of the application for registration.  Please be advised that processing of your application will be expedited if all required documents are submitted at the same time.

1.     Form 33-109F6 – Once confirmation of enrollment has been received by the Chief AFR, a firm may submit a completed Form 33-109F6 (Application for Firm Registration) to the regulator. The F6 and supporting documents should be submitted to the regulator via email with scanned signatures. The F6 should only be sent to the firm’s Principal Regulator (determined by where the firm’s head office is located).  If the firm is seeking registration in Ontario, and Ontario is not the firm’s principal regulator, a copy of the F6 must also be filed without supporting documents, with the Ontario Securities Commission.  Firm set up will be completed by the regulator. The firm will be notified to begin the submission of the 33-109F4 applications which form part of the firm’s application process.

2.    Form 33-109F4:  Confirmation that forms have been/will be electronically completed for each approved person (includes but is not limited to Partners, Executives, Directors, Registered Representatives, Traders, Supervisors, and Investors) seeking registration via NRD following the filing of the registration application.

Proof of passing the applicable courses and a completed police check form must accompany each form filed.

3.    Fees:  Fees for application for registration of the company:  $600.00 payable to the Newfoundland Exchequer Account.

Ø  Fees for application for registration of individuals will be electronically pulled from the applicant’s account or a request for fees will be made by IIROC staff via email.

4.         A certified or notarized copy of Articles of Incorporation and/or any other related documents.

5          Membership with IIROC. IIROC membership deals with Capital Requirements, Record Keeping, New Accounts and Supervision, Segregation of Funds and Securities, Statements of Account and Portfolio, Proficiency Requirements, Trading and other matters.

6.         A statement of policies pursuant to Section 187 of the Regulations.

7.         Evidence of registration pursuant to the Newfoundland and Labrador Corporate Registry.   

8.         Office Location Submissions via NRD for each office the firm intends to operate in the province. A fee per branch opening will be pulled electronically with the NRD submission.

9.         Each Office Location must be managed and supervised by a Supervisor qualified by way of authority, experience and competence who has successfully completed the proficiencies pursuant to IIROC Rule 2900.   

 

For further information, please contact:

Investment Industry Regulatory Organization of Canada
Suite 2000, 121 King Street West
Toronto, Ontario     M5H 3T9

Mangers, Registration:

Chris Bhalla (416) 865-3032
Kerry Newman (416) 943-5839
Lucy Pacheco (416) 943-6916