Canadian Securities Regulators seek comment on proposed amendments to derivatives trade reporting rules

CALGARY, Feb. 16, 2016 /CNW/ - Securities regulators in Alberta, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Saskatchewan and Yukon (the participating jurisdictions) today published for comment proposed amendments to Multilateral Instrument 96-101 Trade Repositories and Derivatives Data Reporting and its companion policy (MI 96-101) for a 60-day comment period. The British Columbia Securities Commission anticipates publishing for comment identical proposed amendments in the coming weeks.

The proposed amendments would alleviate the reporting requirements for certain derivatives between end-user affiliated entities. The proposed amendments also include requirements for the public dissemination of transaction-level data by trade repositories in order to improve price discovery while preserving the anonymity of counterparties.

The proposed amendments were developed in cooperation with the CSA's Derivatives Committee and are intended to have the same result, in substance, as the proposed amendments to local rules published in Manitoba, Ontario and Québec on November 5, 2015.  

CSA Notice of Approval for MI 96-101 was published on January 22, 2016. Subject to government Ministerial approvals in some participating jurisdictions, MI 96-101 will become effective in the participating jurisdictions on May 1, 2016, with trade reporting obligations beginning on July 29, 2016. The participating jurisdictions anticipate that the proposed amendments will be implemented before the trade reporting requirements take effect and that they will be harmonized across each of the participating jurisdictions and British Columbia.

The proposed amendments are available on the participating jurisdictions' websites.

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 Alberta Securities Commission

Mark Dickey, Alberta Securities Commission, 403-297-4481; Tanya Wiltshire, Nova Scotia Securities Commission, 902-424-8586; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160; Andrew Nicholson, Financial and Consumer Services Commission, New Brunswick, 506-658-3021; Janice Callbeck, Office of the Superintendent of Securities, P.E.I., 902-368-6288; John O'Brien, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-4501; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Tom Hall, Northwest Territories Securities Office, 867-873-7490; Jeff Mason, Nunavut Securities Office, 867-975-6587