How to become a Registrant
For individuals to be registered, they must first be sponsored by a firm that is registered with the Commission. The steps below outline the initial registration steps for a New Brunswick-based firm. Individuals should contact the sponsoring firm for details.
An initial application from a New Brunswick-based firm to the Commission contains the following information:
- A cover letter that explains that the firm is seeking registration in New Brunswick and/or other jurisdictions.
- Completed Form 33-109F6 Firm Registration. The form is included in National Instrument 33-109 Registration Information (NI 33-109).
- Supporting documentation, including:
- Schedule A—Contact information for notice of collection and use of personal information
- Schedule B—Submission to jurisdiction and the appointment of an agent for service for each jurisdiction where the firm is seeking registration
- Schedule C—Form 31-103F1 Calculation of excess working capital
- Proof of registration as a corporation or partnership in all the jurisdictions in which the firm applied for registration
- Detailed business plan (question 3.3)
- Policies and procedures manual including investment management agreements (question 3.3)
- Constating documents (question 3.7)
- Organizational chart (question 3.11)
- Ownership chart (question 3.12)
- Most recent audited financial statements as required in question 5.13
- Proof of bonding or insurance, including director’s resolution approving insurance (question 5.7). The bonding and insurance coverage must cover each jurisdiction in which the firm is seeking registration. The coverage requirement is set out in Part 12 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
- Letter of direction to auditors (question 5.14)
For registration as a mutual fund dealer, proof of membership with the Mutual Fund Dealers Association of Canada (MFDA) is required. For registration as an investment dealer, proof of membership with Investment Industry Regulatory Organization (IIROC) is required.
Fintech firms with innovative business models seeking to offer innovative products, services, and applications, may wish to consider a streamlined registration or exemption process under the CSA Regulatory Sandbox.
Useful links to assist in the registration application: