CDS Notice of Commission Approval - Material Amendments to CDS Rules Relating to Qualifications for Participation - Foreign Institutions

Market Regulation Document Type
Canadian Depository for Securities Limited (CDS) rule review

THE CANADIAN DEPOSITORY FOR SECURITIES LIMITED

MATERIAL AMENDMENTS TO CDS RULES

QUALIFICATIONS FOR PARTICIPATION -- FOREIGN INSTITUTIONS

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission approved on December 13, 2005, the amendments filed by The Canadian Depository for Securities Limited (CDS) relating to qualifications for participation -- foreign institutions. The amendments remove the requirement that a participant which is a Foreign Institutions provide CDS with a guarantee or irrevocable letter of credit in form, substance and amount satisfactory to CDS from another Participant of CDS which is a Regulated Financial Institution. A copy and description of these amendments was published on October 21, 2005 at (2005) 28 OSCB 8811. No comments were received.