REGISTRATION in the securities industry is a privilege and not a right. As a result, there are detailed fit and proper requirements that must be met under NI 31-103 before a firm or an individual will be granted registration.

The fit and proper standards are both initial and ongoing requirements and include proficiency, financial solvency, and integrity. These principles are interpreted broadly and applicants are generally surprised, and often frustrated, at the level of detail and depth of the review.

North Star brings a regulator’s perspective to the application process. We deliver an application for registration that is complete and provides all the details needed by the regulators to make a swift decision to grant registration.

This unique perspective also benefits applicants when assessing whether an exemption from the registration or compliance requirements should be sought. North Star can prepare applications for exemptions that address the concerns of regulators and allow appropriately qualified individuals to obtain registration.

North Star helps firms apply for and obtain registration in the categories of:

  • Portfolio Manager
  • Restricted Portfolio Manager
  • Investment Fund Manager
  • Exempt Market Dealer
  • Mutual Fund Dealer
  • Investment Dealer; and
  • Restricted Dealer

We help individuals apply for and obtain registration in the categories of:

  • Ultimate Designated Person
  • Chief Compliance Officer
  • Advising representative
  • Associate advising representative; and
  • Dealing representative

Finally, North Star will determine who are permitted individuals – the “mind and management” of the firm
(i.e., those who have direct influence or control of the firm) – and make the required filings with the regulators.

David is one of the most knowledgeable people in the country, in my view, in the field of registration. He has an intimate knowledge of both the regulatory requirements and the regulatory objectives that the specific requirements are trying to achieve. He can put those together to arrive at reasonable solutions in terms of what a firm needs to be doing to become compliant with both the letter of the law and the spirit of the law.
— Kenneth Parker, Vice President, Compliance & Finance Portfolio Strategies Corporation