TORONTO, June 13 /CNW/ - The Ontario Securities Commission (OSC) today
published OSC Staff Notice 33-730 Capital calculations for investment
counsel/portfolio managers to remind investment counsel/portfolio managers
(portfolio managers) of the capital requirements under Ontario Securities law.
All portfolio managers are required under the Ontario Securities Act to
prepare monthly capital calculations based on financial statements prepared in
accordance with Canadian generally accepted accounting principles. Compliance
staff of the OSC have noticed a slight increase in the number of portfolio
managers that are deficient in meeting the minimum capital requirements.
The notice describes the recommended terms and conditions that may be
imposed on a portfolio manager's registration when there is a capital
deficiency and highlights key changes to capital requirements under proposed
National Instrument 31-103 Registration Requirements (NI 31-103).
OSC Staff Notice 33-730 Capital calculations for investment
counsel/portfolio managers and proposed NI 31-103 Registration Requirements
are available in the Rules, Policies & Notices section of the OSC website
For further information:
For further information: For Media Inquiries: Wendy Dey, Director,
Communications & Public Affairs, (416) 593-8120; Laurie Gillett, Manager,
Public Affairs, (416) 595-8913; Carolyn Shaw-Rimmington, Assistant Manager,
Public Affairs, (416) 593-2361; For Investor Inquiries: OSC Contact Centre,
(416) 593-8314, 1-877-785-1555 (Toll Free)