The Canadian Securities Administrators (CSA) has released new rules in response to a number of compliance oversight reviews in which CSA staff concluded that additional guidance for registrants, such as portfolio managers (PMs), exempt market dealers (EMDs, and other registrants who are not members of a self-regulatory organisation (SRO) is required to enhance overall compliance with a number of regulatory obligations. In its CSA Staff Notice 31-336 Guidance for Portfolio Managers, Exempt Marke