For Immediate ReleaseApril 10, 2014
Toronto - The Canadian Securities Administrators (CSA) announced today that it intends to extend the date for the commencement of over-the-counter (OTC) derivatives trade reporting until October 31, 2014 for clearing agencies and dealers, and until June 30, 2015 for all other OTC derivatives market participants.
At present, no trade repository that can accept all OTC derivative asset classes has completed its application to be recognized or designated within the required timeframe for the commencement of trade reporting obligations in Quebec, Manitoba and Ontario. This extension will provide additional time for trade repositories currently engaged in the designation or recognition process to accept market participants onto their systems and develop the reporting infrastructure necessary to comply with provincial trade reporting rules. Staff in Ontario, Quebec, and Manitoba will be recommending amendments to Rule 91-507 Trade Repositories and Derivatives Data Reporting, to reflect the extension of the trade reporting obligation.
The CSA reiterates its commitment to a harmonized oversight and reporting regime for OTC derivatives markets.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Carolyn Shaw-RimmingtonOntario Securities Commission416-593-2361
Mark DickeyAlberta Securities Commission403-297-4481
Richard GilhooleyBritish Columbia Securities Commission604-899-6713
Sylvain ThébergeAutorité des marchés financiers514-940-2176
Kevan HannahManitoba Securities Commission204-945-1513
Wendy Connors-BeckettFinancial and Consumer ServicesCommission, New Brunswick506-643-7745
Tanya WiltshireNova Scotia Securities Commission902-424-8586
Janice CallbeckOffice of the Superintendent of SecuritiesP.E.I.902-368-6288
Don BoylesOffice of the Superintendent of SecuritiesNewfoundland and Labrador709-729-4501
Rhonda HorteOffice of the Yukon Superintendent ofSecurities867-667-5466
Louis ArkiNunavut Securities Office867-975-6587
Gary MacDougallNorthwest TerritoriesSecurities Office867-873-7490
Daniela MachucaFinancial and Consumer AffairsAuthority of Saskatchewan306-798-4160
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