Canadian Securities Regulators implement derivatives reporting rules

Calgary – Securities regulators in Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Saskatchewan and Yukon (the participating jurisdictions) today announced the implementation of new Multilateral Instruments 91-101 Derivatives: Product Determination and 96-101 Trade Repositories and Derivatives Data Reporting. Together, these instruments form a derivatives reporting regime that is substantively harmonized with regimes in effect in Manitoba, Ontario, Québec and internationally.

The instruments establish rules governing the reporting and collection of over-the-counter (OTC) derivatives data.  This will improve the regulatory oversight of the OTC derivatives market, which includes the ability to identify and address systemic risk and the risk of market abuse.

In developing these instruments, the participating jurisdictions considered the OTC derivatives reporting rules in effect in Manitoba, Ontario and Québec, comments provided in response to request for comments published by Alberta, British Columbia, New Brunswick, Nova Scotia and Saskatchewan in January 2015, and additional input provided by market participants.

The instruments 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.

For more information:

Mark Dickey
Alberta Securities Commission

Richard Gilhooley
British Columbia Securities Commission

Tanya Wiltshire
Nova Scotia Securities Commission

Andrew Nicholson
Financial and Consumer Services
Commission, New Brunswick

Janice Callbeck
Office of the Superintendent
of Securities, P.E.I.

Shannon McMillan
Financial and Consumer Affairs
Authority of Saskatchewan

John O’Brien
Office of the Superintendent
of Securities
Newfoundland and Labrador

Rhonda Horte
Office of the Yukon Superintendent
Of Securities

Jeff Mason
Nunavut Securities Office

Tom Hall
Northwest Territories
Securities Office