Regulators amending derivatives trade reporting rules

Several securities regulators across Canada have published for comment proposed amendments to both Multilateral Instrument 96-101 (Trade Repositories and Derivatives Data Reporting) and its companion policy (MI 96-101). There’s a 60-day comment period.

The group of regulators includes commissions from Alberta, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Saskatchewan and Yukon. For its part, the British Columbia Securities Commission plans to publish identical proposed amendments in the next few weeks.

The proposed amendments would alleviate the reporting requirements for certain derivatives between end-user affiliated entities. The amendments would also include requirements for the public distribution of transaction-level data by trade repositories 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 as proposed amendments to local rules published in Manitoba, Ontario and Québec (these were published on November 5, 2015).

CSA Notice of Approval of 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.

For more on derivatives, read:

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.