Registration Requirements
Firms
Firms must register with the NSSC if they conduct any of the following activities in Nova Scotia:
- Are in the business of trading in, or advising on, securities.
- Act as an investment fund manager.
- Conduct trading activities involving commodity futures contracts or commodity futures options.
Individuals
Individuals must register if they:
- Trade, advise or underwrite on behalf of a registered dealer or adviser.
- Act as the ultimate designated person or chief compliance officer of a registered firm.
Registration Exemptions
Exemptions from the requirement to register are available to firms and individuals in certain circumstances. For more information, see Part 8 of National Instrument 31-103.
Canadian Investment Regulatory Organization (CIRO)
Investment dealers and mutual fund dealers
A firm registered as an investment dealer or a mutual fund dealer is required to be a member of a self-regulatory organization (SRO).
Prior to January 1, 2023, a firm registered as an investment dealer was required to be a member of the Investment Industry Regulatory Organization of Canada (IIROC), and a firm registered as a mutual fund dealer was required to be a member of the Mutual Fund Dealers Association of Canada (MFDA).
Effective January 1, 2023, IIROC and the MFDA amalgamated to become the New Self-Regulatory Organization of Canada (New SRO). On June 1, 2023, the New SRO was officially renamed the Canadian Investment Regulatory Organization (CIRO). Going forward, all firms registered as investment dealers or mutual fund dealers are required to be a member of CIRO.
Frequently Asked Questions
To assist registration participants in understanding and applying for registration, NSSC staff has compiled a summary of answers to frequently asked questions.