Securities Law & Instruments

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NOTICE OF MINISTERIAL APPROVAL OF AMENDMENTS TO NATIONAL INSTRUMENT 21-101 -- MARKETPLACE OPERATION

On August 21, 2020, the Minister of Finance approved amendments made by the Commission to National Instrument 21-101 -- Marketplace Operation (NI 21-101).

The primary purpose of the amendments is to reduce the regulatory burden associated with the reporting requirements for marketplaces and information processors (IPs) in NI 21-101. The amendments streamline these requirements by eliminating duplicative reporting as well as reporting that does not materially contribute to the Commission's oversight of marketplaces and IPs, while maintaining a robust reporting framework that supports the objectives of the Commission's oversight, including providing protection to investors and fostering fair and efficient capital markets and investor confidence. The amendments also enhance the requirements in relation to the IT systems maintained by marketplaces and IPs, including clarifying testing and reporting requirements and establishing an appropriate focus on cyber resilience.

The amendments were published in the Bulletin on June 18, 2020 at (2020) 43 OSCB 5066. No changes have been made to the amendments since that publication. The amendments are reproduced in Chapter 5 of this Bulletin and at www.osc.gov.on.ca.

The amendments come into force on September 14, 2020.