The long-anticipated changes to the registration regime under Canada’s securities regulation have now been finalized with the release of National Instrument 31-103 Registration Requirements and Exemptions on July 17, 2009. Touted by the media as a hedge fund rule, National Instrument 31-103 is considerably more far-reaching in scope and effect. Managers of hedge funds1 are just one group of securities industry market participants that will be affected by the new registration regime.

type Investment Management Advisory - August 2009 - What's New? National Instrument 31-103: Impact on the Hedge Fund Industry