CANADA: CSA Publishes Consultation on Derivatives Registration

Friday April 20 2018

On 19^th April 2018, the Canadian Securities Administrators (CSA) published a Consultation titled Proposed National Instrument 93-102 Derivatives: Registration and Proposed Companion Policy 93-102 Derivatives: Registration (collectively, the Proposed Instrument). This Proposed Instrument establishes a new regime for the registration of dealers and advisers transacting in the over-the-counter (OTC) derivatives markets in Canada.

The proposed registration regime will allow securities regulators to contribute to protecting these firms and individuals in their derivatives activities by establishing minimum standards of integrity, solvency and proficiency for firms and individuals offering OTC derivatives products or related advice.
The Proposed Instrument provides exclusions and exemptions for certain persons or companies from the requirements to register as a derivatives dealer or as a derivatives adviser subject to certain conditions.

The CSA is holding an extended comment period (150 days) on the Proposed Instrument, to give stakeholders the opportunity to consider the Proposed Instrument and NI 93-101 together. The deadline for submissions is 17^th September, 2018.

For additional information please click the link above.