EMDA comments on “Year One’ amendments to NI 31-103
and ensures new regulations on Know-Your-Product and
suitability obligations, client account statements and securities
valuation reporting under NI 31-103 and NI 33-109 reflect the
reality of the exempt market and are practical for EMDs and
their unique client relationships.
EMDA hosts regional conferences
in Calgary, Edmonton, Vancouver,
Montreal, Halifax and discusses
best practices with respect to Know-Your-Client and Know-Your-Product
requirements, suitability analysis and
the latest amendments to NI 31-103 and
other developments in securities law.
EMDA expresses concern about
the proposed securitization product
rules, which sought to restrict EMDs
and modify exempt market practices
under NI 41-103 and NI 51-106.
The Exempt Market Dealers Association
of Canada (EMDA) (originally known as
the Limited Market Dealers Association
of Canada) is established by exempt
market industry professionals.
Implementation of the exempt
market dealer category across
Canada through NI 31-103.
EMDA meets with the Canadian Securities
Administrators (CSA) Registration Reform
Working Group for the first time, and
reinforces that the exempt market needs
regulation to bring credibility, to rid the
market of unprofessional behavior and to
create a stronger framework for limited
market dealers (LMD) in Ontario and
unregistered dealers in the rest of Canada.
EMDA comments on the initial national
registration regime proposals extending
the Ontario LMD model into the EMD
category across Canada under NI 31-103
and supports harmonization, streamlining
and modernization of the registration
regime across Canada.
Morley Salmon, EMDA Founder and Past
Chairman presents at the ‘Dialogue with
the Ontario Securities Commission (OSC)’
and provides a cogent argument about why
exempt market dealers should be regulated.
The EMDA also argues that exempt market
dealers (EMDs) are different than investment
dealers, mutual fund dealers, and scholarship
plan dealers. As a result, the EMDA is
recognized as the association that could
speak passionately and thoughtfully on behalf
of the exempt market.
EMDA comments on the second
draft of NI 31-103 and it becomes
one of the most read comment letters
by the CSA Registration Reform
Working Group. The EMDA outlines
customary practices in the exempt
market and offers pragmatic solutions
to help the regulators protect
investors while not over-regulating
this newly proposed registrant.
EMDA begins its rapid growth in membership,
activity and most importantly, influence.
Your Industry Voice
Coast to Coast
Exempt Market Dealers
EMDA Special Feature: Your National Voice From Coast to Coast | August 27, 2013
Association of Canada across Canada
Private Capital Markets