On January 11, 2008, the Canadian securities administrators (the CSA) released for a second comment period proposed National Instrument 23-102 Use of Client Brokerage Commissions as Payment for Order Execution Services or Research Services, along with an accompanying companion policy. This proposed "soft dollar" rule and policy is the CSA’s response to the forty-three comment letters received after the first publication of the CSA proposals in July 2006 1 , as well as the new restrictions on the use of soft dollars that became effective during 2006 and 2007 in the United States and the United Kingdom.

type Investment Management Advisory - February 2008 - Canadian Securities Regulators Propose Revised Rules to Regulate Use of Client Brokerage Commissions