National Instruments Published For Comment

National Instruments Published For Comment

Securities – CSA Notice and Request for Comment Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, National Instruments 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Investment Funds and National Instrument 81-105 Mutual Fund Sales Practices and Proposed Changes to Companion Policy 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, Companion Policy 81-102 Investment Funds and Companion Policy 81-105 Mutual Fund Sales Practices – The Principal Distributor Model

November 28, 2024 – Today the Financial and Consumer Affairs Authority of Saskatchewan are publishing CSA Notice and Request for Comment Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, National Instruments 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Investment Funds and National Instrument 81-105 Mutual Fund Sales Practices and Proposed Changes to Companion Policy 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, Companion Policy 81-102 Investment Funds and Companion Policy 81-105 Mutual Fund Sales Practices – The Principal Distributor Model.

The Proposed Amendments address the principal distributor model for mutual funds and seek to improve investor protection and maintain investor confidence in our capital markets. The Proposed Amendments clarify that a principal distributor may only act for mutual funds in the same mutual fund family, require disclosure of principal distributor arrangements and compensation and ensure that the DSC option (as defined in the documents below) is not available to investors purchasing mutual fund securities distributed by principal distributors.

• CSA Notice and Request for Comment - The Principal Distributor Model
• Annex A – Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions, and Ongoing Registrant Obligations
• Annex B – Proposed Changes to Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations
• Annex C – Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Annex D – Proposed Amendments to National Instrument 81-102 Investment Funds
• Annex E – Proposed Changes to Companion Policy 81-102CP Investment Funds
• Annex F – Proposed Amendments to National Instrument 81-105 Mutual Fund Sales Practices
• Annex G – Proposed Czhanges to Companion Policy 81-105CP Mutual Fund Sales Practices
• Annex H – Specific Consultation Questions
• Annex I – Local Matters

Comment Period Ends: February 27, 2025.

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca

 

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Securities – CSA Notice and Request for Comment, Proposed Amendments to Multilateral Instrument 13-102 System Fees

November 21, 2024 – Today the Financial and Consumer Affairs Authority of Saskatchewan are publishing CSA Notice and Request for Comment, Proposed Amendments to Multilateral Instrument 13-102 System Fees. The CSA is proposing to introduce an updated system fee regime with annual increases in system fees over a 5-year period commencing late 2025. 

• CSA Notice and Request for Comment, Proposed Amendments to Multilateral Instrument 13-102 System Fees
• Annex A - Proposed amendments to Multilateral Instrument 13-102 System Fees
• Annex B - Local Matters

Comment Period Ends: February 19, 2025.

For more information, contact:

Sonne Udemgba
Financial and Consumer Affairs Authority of Saskatchewan
Director, Legal, Securities Division
4th Floor, 2365 Albert Street
Regina, SK  S4P 4K1
Tel: 306-787-5879
Fax: 306-787-5899
Email: sonne.udemgba@gov.sk.ca

 

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Securities – CSA Notice of Republication and Request for Comment – Proposed Amendments and Proposed Changes to Implement an Access Model for Certain Continuous Disclosure Documents of Non-Investment Fund Reporting Issuer

November 19, 2024 – Today the Financial and Consumer Affairs Authority of Saskatchewan are publishing CSA Notice of Republication and Request for Comment – Proposed Amendments and Proposed Changes to Implement an Access Model for Certain Continuous Disclosure Documents of Non-Investment Fund Reporting Issuer.

If implemented, this will introduce an access model for annual financial statements, interim financial reports and related management's discussion & analysis (MD&A) for non-investment fund reporting issuers. This provides alternative procedures whereby electronic access may be provided to annual financial statements, interim financial reports and related MD&A instead of following the delivery requirements currently found in securities legislation.

• CSA Notice of Republication and Request for Comment – Proposed Amendments and Proposed Changes to Implement an Access Model for Certain Continuous Disclosure Documents of Non-Investment Fund Reporting Issuers
• Annex A: List of Commenters and Summary of Comments and CSA Responses
• Annex B: Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations
• Annex C: Proposed Changes to Companion Policy 51-102CP Continuous Disclosure Obligations
• Annex D: Proposed Amendments to National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer
• Annex E: Proposed Changes to Companion Policy 54-101CP to National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer
• Annex F: Local Matter

Comment Period Ends: February 17, 2025.

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca

 

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Securities – CSA Notice of Consultation Proposed Amendments to National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives

September 19, 2024 – The Financial and Consumer Affairs Authority of Saskatchewan is publishing the CSA Notice of Consultation Proposed Amendments to National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives.

• CSA Notice of Consultation Proposed Amendments to National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives
• Annex A: Proposed Amendments to National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives
• Annex B: Specific question of the CSA relating to the Proposed Amendments
• Annex C: Local Matters

Comment Period Ends: December 19, 2024.

For more information, contact:

Graham Purse
Financial and Consumer Affairs Authority
Legal Counsel, Securities Division
400-2365 Albert Street
Regina, SK, S4P 4K1
Bus: 306-787-5867
Fax: 306-787-5899
Email: graham.purse2@gov.sk.ca

 

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Securities – CSA Notice and Request for Comment Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Investment Funds, National Instrument 81-106 Investment Fund Continuous Disclosure, National Instrument 81-107 Independent Review Committee for Investment Funds and Related Proposed Consequential Amendments and Changes Modernization of the Continuous Disclosure Regime for Investment Funds

September 19, 2024 – The Financial and Consumer Affairs Authority of Saskatchewan is publishing the CSA Notice and Request for Comment Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Investment Funds, National Instrument 81-106 Investment Fund Continuous Disclosure, National Instrument 81-107 Independent Review Committee for Investment Funds and Related Proposed Consequential Amendments and Changes Modernization of the Continuous Disclosure Regime for Investment Funds.

• CSA Notice and Request for Comment Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Investment Funds, National Instrument 81-106 Investment Fund Continuous Disclosure, National Instrument 81-107 Independent Review Committee for Investment Funds and Related Proposed Consequential Amendments and Changes Modernization of the Continuous Disclosure Regime for Investment Funds
• Annex A Specific Questions for Comment Relating to the Proposed Amendments and Proposed Changes
• Annex B-1 Proposed Amendments to Multilateral Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions
• Annex B-2 Proposed Changes to National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions
• Annex B-3 Proposed Changes to National Policy 12-202 Revocation of Certain Cease Trade Orders
• Annex B-4 Proposed Changes to National Policy 12-203 Management Cease Trade Orders
• Annex B-5 Proposed Amendments to National Instrument 41-101 General Prospectus Requirements
• Annex B-6 Proposed Changes to Companion Policy 41-101CP General Prospectus Requirements
• Annex B-7 Proposed Amendments to National Instrument 44-101 Short Form Prospectus Distributions
• Annex B-8 Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Annex B-9 Proposed Changes to Companion Policy 81-101CP Mutual Fund Prospectus Disclosure
• Annex B-10 Proposed Amendments to National Instrument 81-102 Investment Funds 
• Annex B-11 Proposed Changes to Companion Policy 81-102CP Investment Funds
• Annex B-12 Proposed Amendments to National Instrument 81-106 Investment Fund Continuous Disclosure
• Annex B-13 Proposed Changes to Companion Policy 81-106CP Investment Fund Continuous Disclosure
• Annex B-13.1 Sample Fund Facts Document
• Annex B-14 Proposed Amendments to National Instrument 81-107 Independent Review Committee for Investment Funds
• Annex B-15 Proposed Change to Commentary in National Instrument 81-107 Independent Review Committee for Investment Funds
• Annex C-1 Blackline Illustrating Proposed Amendments to National Instrument 41-101 General Prospectus Requirements
• Annex C-2 Blackline Illustrating Proposed Changes to Companion Policy 41-101CP General Prospectus Requirements
• Annex C-3 Blackline Illustrating Proposed Amendments to Form 41-101F2 Information Required in an Investment Fund Prospectus
• Annex C-4 Blackline Illustrating Proposed Amendments to Form 41-101F3 Information Required in a Scholarship Plan Prospectus
• Annex C-5 Blackline Illustrating Proposed Amendments to Form 41-101F4 Information Required in an ETF Facts Document
• Annex C-6 Blackline Illustrating Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Annex C-7 Blackline Illustrating Proposed Amendments to Form 81-101F1 Contents of Simplified Prospectus
• Annex C-8 Blackline Illustrating Proposed Amendments to Form 81-101F2 Contents of Annual Information Form
• Annex C-9 Blackline Illustrating Proposed Amendments to Form 81-101F3 Contents of Fund Facts Document
• Annex C-10 Blackline Illustrating Proposed Changes to Companion Policy 81-101CP Mutual Fund Prospectus Disclosure
• Annex C-11 Blackline Illustrating Proposed Amendments to National Instrument 81-102 Investment Funds
• Annex C-12 Blackline Illustrating Proposed Changes to Companion Policy 81-102CP Investment Funds
• Annex C-13 Blackline Illustrating Proposed Amendments to National Instrument 81-106 Investment Fund Continuous Disclosure
• Annex C-14 Blackline Illustrating Proposed Changes to Companion Policy 81-106CP Investment Fund Continuous Disclosure
• Annex C-15 Blackline Illustrating Proposed Amendments to National Instrument 81-107 Independent Review Committee for Investment Funds
• Annex D Material Modifications made to Mock-Up 3 Following Completion of Investor Testing
• Annex E Local Matters

Comment Period Ends: January 17, 2025.

For more information, contact:

Heather Kuchuran 
Financial and Consumer Affairs Authority of Saskatchewan
Director, Corporate Finance, Securities Division 
400-2365 Albert Street
Regina, SK, S4P 4K1
Bus: 306-787-1009 
Fax: 306-787-5899
Email: heather.kuchuran@gov.sk.ca

 

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Securities – CSA Notice and Request for Comment: Proposed Amendments and Changes to Certain National Instruments and Policies related to the Senior Tier of the Canadian Securities Exchange, the Cboe Canada Inc. and AQSE Growth Market name changes, and Majority Voting Form of Proxy Requirements

August 1, 2024 – The Financial and Consumer Affairs Authority of Saskatchewan is publishing the CSA Notice and Request for Comment: Proposed Amendments and Changes to Certain National Instruments and Policies related to the Senior Tier of the Canadian Securities Exchange, the Cboe Canada Inc. and AQSE Growth Market name changes, and Majority Voting Form of Proxy Requirements.

• CSA Notice and Request for Comment Proposed Amendments and Changes to Certain National Instruments and Policies related to the Senior Tier of the Canadian Securities Exchange, the Cboe Canada Inc. and AQSE Growth Market name changes, and Majority Voting Form of Proxy Requirements
• Annex A Proposed Amendments to National Instrument 41-101 General Prospectus Requirements
• Annex B Proposed Amendments to National Instrument 44-101 Short Form Prospectus Distributions
• Annex C Proposed Amendments to National Instrument 45-106 Prospectus Exemptions
• Annex D Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations
• Annex E Proposed Amendments to Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets
• Annex F Proposed Amendments to National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings
• Annex G Proposed Amendments to National Instrument 52-110 Audit Committees
• Annex H Proposed Amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices
• Annex I Proposed Amendments to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions
• Annex J Proposed Amendments to National Instrument 62-104 Take-over Bids and Issuer Bids 
• Annex K Proposed Amendments to National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers
• Annex L Proposed Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Annex M Proposed Changes to Companion Policy 44-101CP to National Instrument 44-101 Short Form Prospectus Distributions
• Annex N Proposed Changes to National Policy 46-201 Escrow for Initial Public Offerings
• Annex O Local Matters

Comment Period Ends: October 30, 2024.

For more information, contact:

Heather Kuchuran 
Financial and Consumer Affairs Authority of Saskatchewan
Director, Corporate Finance, Securities Division 
400-2365 Albert Street
Regina, SK, S4P 4K1
Bus: 306-787-1009 
Fax: 306-787-5899
Email : heather.kuchuran@gov.sk.ca

 

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Securities - CSA Notice and Request for Comment Proposed Amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators and Proposed Changes to Companion Policy 25-102 Designated Benchmarks and Benchmark Administrators

May 30, 2024 - The Financial and Consumer Affairs Authority of Saskatchewan is publishing the CSA Notice and Request for Comment Proposed Amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators and Proposed Changes to Companion Policy 25-102 Designated Benchmarks and Benchmark Administrators. The Proposed Amendments will revise the requirements in MI 25-102 for assurance reports (the Revised Assurance Report Requirements).

The Revised Assurance Report Requirements are intended to address technical issues encountered by accounting firms that were engaged to prepare assurance reports in 2022 for Refinitiv Benchmark Services (UK) Limited as the designated benchmark administrator of Canadian Dollar Offered Rate (CDOR) and the six Canadian banks that are benchmark contributors to CDOR.

• 25-102 MI CSA Notice with Annexes May 30, 2024
• Annex A - Proposed Amendments to MI 25-102 May 30, 2024
• Annex B - Proposed Changes to 25-102CP May 30, 2024
• Annex C - Background Information on Revised Assurance Report Requirements May 30, 2024
• Annex D - Background Information on Proposed Section 13.1 of MI 25-102 May 30, 2024
• Annex E - Specific Questions to the Authorities Relating to the Proposed Amendments May 30, 2024

For more information contact:

Graham Purse
Financial and Consumer Affairs Authority
Legal Counsel, Securities Division
400-2365 Albert Street
Regina, SK, S4P 4K1
Bus: 306-787-5867
Fax: 306-787-5899
Email: graham.purse2@gov.sk.ca

 

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