Securities Law & Instruments

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CSA STAFF NOTICE 93-301

DERIVATIVES BUSINESS CONDUCT RULE – NO OVERLAP WITH DERIVATIVES REGISTRATION RULE COMMENT PERIOD



June 15, 2017

On April 4, 2017, the Canadian Securities Administrators (the CSA or we) published for comment Proposed National Instrument 93-101 Derivatives: Business Conduct and Proposed Companion Policy 93-101 Derivatives: Business Conduct (collectively, the Business Conduct Rule). The comment period for the Business Conduct Rule will close on September 1, 2017.

We are also in the process of developing a proposed registration regime for derivatives dealers, derivatives advisers and potentially other derivatives market participants. We initially expected to publish Proposed National Instrument 93-102 Derivatives: Registration and a related companion policy (collectively, the Registration Rule) for comment during the consultation period for the Business Conduct Rule.

However, the Registration Rule is now scheduled to be published after September 1, 2017. The Business Conduct Rule comment period will thus no longer overlap with the Registration Rule comment period. We expect comments relating to the Business Conduct Rule to be sent in by the deadline date of September 1, 2017.

Once the Registration Rule is published, we will consider further comments on the Business Conduct Rule that may arise as a consequence of your review of the Registration Rule. These comments will be due by the expiry of the comment period for the Registration Rule.

Questions

Please refer your questions to any of the following:

Lise Estelle Brault
Kevin Fine
Co-Chair, CSA Derivatives Committee
Co-Chair, CSA Derivatives Committee
Senior Director, Derivatives Oversight
Director, Derivatives Branch
Autorité des marches financiers
Ontario Securities Commission
514-395-0337, ext. 4481
416-593-8109
<<lise-estelle.brault@lautorite.qc.ca>>
<<kfine@osc.gov.on.ca>>
Paula White
Chad Conrad
Deputy Director, Compliance and Oversight
Legal Counsel, Corporate Finance
Manitoba Securities Commission
Alberta Securities Commission
204-945-5195
403-297-4295
<<paula.white@gov.mb.ca>>
<<chad.conrad@asc.ca>>
Michael Brady
Abel Lazarus
Manager, Derivatives
Senior Securities Analyst
British Columbia Securities Commission
Nova Scotia Securities Commission
604-899-6561
902-424-6859
<<mbrady@bcsc.bc.ca>>
<<abel.lazarus@novascotia.ca>>
Wendy Morgan
Liz Kutarna
Senior Legal Counsel,
Deputy Director, Capital Markets, Securities Division
Securities Financial and Consumer Services Commission New Brunswick
Financial and Consumer Affairs Authority of Saskatchewan
506-643-7202
306-787-5871
<<wendy.morgan@fcnb.ca>>
<<liz.kutarna@gov.sk.ca>>