National instrument

A statement of rules related to securities markets issued by the Canadian Securities Administrators (CSA), an unofficial organization of provincial and territorial securities regulators from all Canadian jurisdictions. National Instruments are to be adopted and implemented as law in each Canadian jurisdiction. Where some, but not all, provinces and territories have agreed to an instrument, they are called “Multilateral Instruments.” The CSA also issues “National Policies” which are not intended to be adopted as law but provide guidance regarding securities law requirements.