PDO Practice Questions - Partners, Directors And Senior Officers Course (PDO) Exam

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Under the passport system established by the CSA, if a firm registers in its 'principal jurisdiction', what is the general regulatory effect in other participating provinces?

The firm must submit separate, full registration applications to each individual province's commission. The firm is deemed to be registered in the other participating jurisdictions by dealing with its principal regulator. The firm is exempt from paying registration fees in all provinces other than its principal jurisdiction. The firm can only service clients in participating provinces if the provincial commissions grant individual one-time clearances.

Correct Answer:

The firm is deemed to be registered in the other participating jurisdictions by dealing with its principal regulator.

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