Canadian securities regulators publish consultation paper on margin and collateral requirements for non-centrally cleared derivatives

VANCOUVER, July 7, 2016 /CNW/ - The Canadian Securities Administrators (CSA) today published for comment CSA Consultation Paper 95-401 Margin and Collateral Requirements for Non-Centrally Cleared Derivatives. The Consultation Paper proposes a framework for the calculation and exchange of margin and collateral relating to non-centrally cleared derivatives.

"This proposed framework is the CSA's initial step to develop rules that protect market participants entering into non-centrally cleared derivatives by addressing counterparty risk," said Louis Morisset, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers. "The policy recommendations in this proposed framework are broadly consistent with international standards and substantially harmonized with the Office of the Superintendent of Financial Institutions' margin requirements for federally regulated financial institutions."

This Consultation Paper continues the CSA's efforts to implement regulatory oversight of the over-the-counter derivatives market in Canada, in response to the regulatory reform commitments made by leaders of the G20 countries.

The Consultation Paper can be found on CSA members' websites. The comment period is open until September 6, 2016.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

SOURCE Canadian Securities Administrators

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Alison Walker, British Columbia Securities Commission, 604-899-6713; Mark Dickey, Alberta Securities Commission, 403-297-4481; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; Tanya Wiltshire, Nova Scotia Securities Commission, 902-424-8586; John O'Brien, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-4909; Jeff Mason, Nunavut Securities Office, 867-975-6591; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160; Kristen Rose, Ontario Securities Commission, 416-593-2336; Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Andrew Nicholson, Financial and Consumer Services, Commission, New Brunswick, 506-658-3021; Janice Callbeck, Government of Prince Edward Island, Superintendent of Securities, 902-368-6288; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305