INTERNATIONAL: CPMI-IOSCO Assessment Confirms that Canada has Broadly Implemented the PFMI

Friday August 3 2018

It has been recently reported that Canada’s legal, regulatory and oversight frameworks for Financial Market Infrastructures(FMIs) are generally complete and consistent with the Principles for FMIs.

The second level of assessments will focus on whether the content of a jurisdiction’s legislation, regulations and policies for systematically important payment systems, central securities depositories (CSDs), securities settlement systems (SSSs), central counterparties(CCPs) and trade repositories (TRs) are complete and consistent with the PFMI.

The Committee for Payments and Markets Infrastructure (CPMI) and the International Organisation of Securities Commission (IOSCO) will continue to focus their implementation monitoring efforts on assessing the completeness and consistency of jurisdictions’ implementation measures with the PFMI (Level 2 assessments) and the consistency in the outcomes of implementation of the PFMI by FMIs (Level 3 assessments).

This information will be updated as soon as further details become available.

For further information please click on the above link.