Becoming a Dual-Registered Firm

Firms that become registered as both an investment dealer and a mutual fund dealer will be eligible to carry out both investment dealer business and mutual fund dealer business within the same legal entity without having to upgrade the proficiencies of their mutual funds only licensed staff. These firms are known as dual-registered firms.

Existing Dealer Members that wish to become dual-registered must follow the steps listed below.

How to Apply to become Dual-Registered

1. Review the Dual-Registration Questionnaire for Existing Members (PDF) (“Dual-Registration Questionnaire”) and the Dual-Registered Firm – Documentation Checklist (PDF) (“Documentation Checklist”) for information on the materials and supporting documents that Members must prepare for their Dual-Registration application

Applications to become dual-registered must undergo a review by New SRO staff. The Dual-Registration Questionnaire (PDF) collects the information required by New SRO staff to perform an analysis of Member’s proposal. The Documentation Checklist (PDF) sets out the additional materials, forms and supporting documents that must be included with the Member’s request to become dual-registered.

2. Contact New SRO’s Membership Intake team at [email protected] or Membership Services team at [email protected] once the Member is ready to submit its dual-registration application package.

New SRO staff will provide the Member with a ShareFile link and instructions for uploading its dual-registration application package.

3. Complete and file the required registration forms with the securities regulatory authority in the applicable jurisdictions to change the firm’s registration information.

Becoming dual-registered is a two-pronged process. The firm must apply to become a dual-registered firm with New SRO and at the same time, must update its firm registration with the securities regulatory authority in every jurisdiction in which it intends to operate as a dealer. Information on how to apply for dual-registration with the Canadian Securities Administrators can be found in their Registration Guide for Dual Registered Firms (PDF) and on the websites for each jurisdiction. Please refer to the Regulatory Links below.

4. Submit a fully completed Dual-Registration Questionnaire (PDF) and the required supporting materials to New SRO.

Members must submit their dual-registration application package using the ShareFile link provided by New SRO staff. Applicants can avoid unnecessary delays in the review and processing of their dual-registration application by:

5. Work with New SRO staff to clarify information and resolve issues during the review and approval process.

Working closely with New SRO staff during the course of the review to clarify information and resolve issues which will help to facilitate an efficient review process. Members can avoid unnecessary delays in the review and processing of their dual-registration application by responding to information requests from New SRO staff in a timely manner.

The completeness of the Member’s dual-registration application package and the Member’s responsiveness to information requests from New SRO staff directly impact the time it will take for review and approval of the application. Dual-registration applications that involve complex business models and those that require exemptive relief from securities rules will require additional time for New SRO staff to review and approve.

Any dual-registration requests that involve applications for exemptive relief require additional time as exemptive relief from New SRO Rules requires approval from New SRO’s Board of Directors.

Regulatory Links