Under MI 11-103, if a securities regulatory authority issues a CTO against the securities of a reporting issuer, and the order meets the definition of an FFCTO, trading in or purchase of those securities is automatically prohibited or restricted under the same terms and conditions set out in the FFCTO in every jurisdiction that has adopted MI 11-103 and where the issuer is reporting.  If that order is varied, amended or revoked by the securities regulatory authority, the variation, amendment or revocation will also apply in every jurisdiction that has adopted MI 11-103 and where the issuer is reporting. As a result, the absence of an order against a particular issuer or person on the CTO Database does not mean that trading for that particular issuer or person is not restricted in a given jurisdiction.

 

In order to determine whether a FFCTO has effect in a jurisdiction that has adopted MI 11-103, you need to determine whether the issuer is a reporting issuer in the jurisdiction. For this information, click on the following link to view Reporting issuers list. If a jurisdiction has a statutory reciprocal order provision, an FFCTO order will have effect in that jurisdiction even if an issuer is not reporting there.