PDF Version

April 15, 2011

Release 2.3.2 - NRD Enhancements

On Saturday, April 16, 2011, Release 2.3.2 will be implemented on NRD. The release includes a number of enhancements that will benefit NRD users.

Display of Registration Information – Category and Status

The display of current status and history information has changed as follows:

Active Categories:

• The “Current Status” header has been renamed to “Active Categories”.
• Active categories will display in reverse chronological order by effective date (labelled ‘Start Date’).
• Commission categories will display first followed by IIROC categories.
• Permitted individual categories and UDP will appear under separate sections.
• For individual registrants: Permitted Individuals and Ultimate Designated Person will always display before registration categories; commission categories will be grouped by firm category, IIROC categories will be grouped by IIROC category section (i.e. Approval categories, Additional Approval categories, Products, Customer Type then Portfolio Management). For firm registrants, firm categories will simply be listed in reverse chronological order by start date of status.
• Where a category has been suspended and reinstated by regulatory action the ‘Start Date’ will be a hyperlink through which the reinstatement details will be viewable.

• The “History” header has been renamed to “Historical Categories” as this section will now display registration status history at the category level. The display of categories in this section will follow the same grouping and sorting rules as active categories - commission categories will display first followed by IIROC categories. For individual registrants, individual categories will be grouped by firm categories and display in reverse chronological order by start date of status. For firm registrants, firm categories will simply be listed in reverse chronological order by start date of status.
• For each category, every historical status will display with the corresponding interval (start date and end date). Note: A historical status that was not superseded by another status for a given category (e.g. Bulk Category Change, Suspended-Surrender) will not have an end date.

Sample pages of existing and new display:

Display of Ultimate Designated Person (UDP) and Permitted Individuals

Permitted Activities and the category of Ultimate Designated Person were previously grouped together in NRD which has been confusing to users as these categories have different requirements for registration. Permitted Activities have been renamed Permitted Individuals. A new firm-level category has been added called Ultimate Designated Person that will have only one category (the existing Ultimate Designated Person). Parent categories for UDP and Permitted Individuals will only be displayed at the individual level just as they are today.

In all individual submissions in which categories might be added or removed, Permitted Individuals and UDP will be shown as distinct category sections for selection.

Sample page:

The above-mentioned changes will be reflected on all NRD screens where category information displays.
 
Sample page:

Suspension of Registration at the Category Level

Currently, if a Regulator suspends the registration of a firm or individual the registrant is suspended in all categories.
Regulators will now be able to suspend individuals and firms in specific categories, while remaining active in others. If a firm’s category becomes suspended, the individual registrants associated with the firm’s category will also be suspended in their respective category(ies) and acquire the status ‘Suspended (Regulatory Action - Firm)’ just as they do today, but only for the specific category that has been suspended.  A reinstatement of a firm’s category will also reinstate the categories of the individuals associated with that firm’s category.

Sample page:

Allow Active Individuals to File a Reactivation Submission

Previously, Reactivation submissions could not be filed for individuals whose previous sponsoring firm had not yet filed a Notice of Termination. Due to changes introduced by Registration Reform, many individuals are prevented from using the Reinstatement submission due to category constraints, and must use a Reactivation. The Reactivation submission has been enhanced to allow reactivations to be filed for individuals who are active with one or more firms.  Upon approval of the Reactivation submission, the individual’s registration status with their previous sponsoring firm(s) will become ‘Suspended Pending Termination’. Individuals who have Reactivated with a new sponsoring firm will appear on the former firm’s 33-109F1 Follow-up Report until such time a Notice of Termination is filed.

Reinstatement of Registration submission for individual active with more than one firm

Previously, the Reinstatement of Registration submission could only be filed for individuals active with only one firm. Some firms have two different, but related, registered firms on NRD and when individuals registered with both entities needed to Reinstate their registration with a new sponsoring firm, this situation became problematic.

The Reinstatement submission has been enhanced to allow reinstatements to be filed for individuals who are active with more than one firm provided the individual meets the conditions of a Reinstatement. Upon approval of the submission the individual’s status with the former sponsoring firm(s) will change from Active to Suspended (Pending Termination). Individuals who have reinstated with a new sponsoring firm will appear on both former firm’s 33-109F1 Follow-up Report until such time a Notice of Termination is filed.

Notification to firm of Terms and Conditions when submitting Reinstatement of Registration

When a ‘Reinstatement of Registration’ submission is being filed for an individual whose registration is currently subject to terms and conditions a message will alert the new sponsoring firm. A notification message will appear on the “confirm permanent record” page of the Reinstatement of Registration submission.

Sample page:

Allow Suspended Firm to File Submissions

Previously, NRD did not allow submissions to be filed by firms that have the status ‘Suspended (Regulatory Action), Suspended (Not Renewed) or Suspended (Pending Surrender) in a given jurisdiction. The enhanced functionality will now allow an AFR of such firm to file all types of submissions for individuals except the Reinstatement of Registration and Registration in an Additional Jurisdiction submission. (This enhancement will not apply to firm submissions).

Allow Multiple Exemption Submissions for One Individual

Previously, only one Exemption submission could be created and submitted to Regulators per individual at a time. If a submission was filed including multiple exemption requests a workaround had to be applied if an individual was granted an exemption from one but not all of the requests. As a result, the Exemption submission has been enhanced to allow users to create and submit multiple Exemption submissions for one individual to avoid unnecessary workarounds.

Allow the 33-109F2 to be returned for correction

The 33-109F2 - Change or Surrender of Individual Categories submission has been enhanced to allow deficient submissions to be returned to the firm for correction. If such submission is returned to the firm the AFR will be able to edit any page within the submission. The submission is going to be related to a deficiency and no additional fees will be charged.

Additional Filter Criteria for List Registrant Report

Previously, the List Registrants Report only provided users the ability to list individuals who are registered in one or more of the categories. A new report filter option has been added that will allow users to list only those individuals who are registered in all of the categories they select.

Sample of new Report Options section on the report criteria page:

Allow Special Characters in Text Boxes

NRD has been enhanced to accept special characters in multi-line text boxes. Users will now be able to paste text containing special characters from on-line documents into the multi-line text boxes and NRD will convert these special characters into similar accepted characters.