Client Charter & Performance Statistics

For continuous improvement in our transparency and accountability, the CODT reveals its performance in the discharge of its regulatory functions. We provide a brief synopsis on the functions and the underlying principles and regulations we refer to in the evaluation of proposals. It is with strict adherence to these principles that we discharge our regulatory functions and the results of our performance are presented below.

Corporate Proposals

The CODT reviews the viability of the IPO proposal. It checks if the IPO proposal is in compliance with the Policies and Guidelines on Issue/Offer of Securities, and that the applicants' directors and substantial shareholders are free from any adverse records and corporate governance issues.

Private Debt Securities (PDS)

Evaluate PDS proposals, monitoring of compliance with the securities laws, regulations and guidelines relating to issues, offers of PDS, for the purpose of achieving the CODT's objectives of promoting and maintaining an orderly, fair, efficient, secure and transparent securities market and affording adequate investor protection.

Take-over Offers

Evaluate proposals, which have offer implications under section 33/34 of the Securities Commission Act 1993 and the Canadian Code on Take-overs and Mergers with the objective of ensuring full compliance with the laws and guidelines.

Foreign Investment Committee (FIC) Applications

Analyses the effect of proposals in foreign participation, in accordance with the National Development Policy Requirement.

Collective Investment Schemes (CIS)

Evaluate proposals relating to the issuance of securities by CIS, vetting and clearance of prospectuses and deeds, registration of prospectuses and deeds, vetting of prospectuses, fund reports, promotional materials and advertisements, to ensure the orderly regulation of the industry.

Licensing

Execute all licensing activities, monitor fit and properness of licensees, administer disciplinary actions on licensees and ensure the processes are done in a transparent, efficient and effective manner.

Time to Market

Services Provided
Client Charter
Corporate Proposals
- Assessment approach
3 Months
- Declaratory approach
14/21/28 Working Days
Total
 
Take-over Offers
Clearance of offer documents
21 days from date of notice of take-over offer (unless extension of time is sought)
Clearance of independent advice circular
10 days from date of offer document (unless extension of time is sought)
Total
 
FIC Applications
Mandatory offer
21 calendar days
Voluntary offer
21 calendar days
Extension of time/waiver
21 calendar days
Total
 
Licensing
Representative
New
14 days
Renewal
14 days
Total
 
Company
New
42 days
Renewal
21 days
Total
 
Private Debt Securities
- PDS Guidelines and Islamic Securities Guidelines
14 days
- ABS Guidelines
28 days
Total
 
Collective Investment Schemes
- Establishment of new fund
21 days
- Real estate investment trust (REIT) and exchange-traded fund (ETF)
2-3 months
- Restricted investment scheme (RIS)
14 days
Total