Category: Structured Finance & Derivatives

Mandatory Clearing of OTC Derivatives Delayed for Certain Entities

August 17, 2017

The Canadian Securities Administrators (CSA) have taken steps to postpone until August 20, 2018 the phase-in date of the mandatory clearing requirements set out in National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives (NI 94-101) for certain categories of counterparties. The delay in the application of the rule to these counterparties will not affect transactions and counterparties that are…

OSFI Issues Draft Guideline for Derivatives Sound Practices for Federally Regulated Private Pension Plans

August 8, 2017

On July 31, 2017, the Office of the Superintendent of Financial Institutions Canada (OSFI) published for comment a new draft guideline, titled: Derivatives Sound Practices for Federally Regulated Private Pension Plans (Draft Guideline). According to OSFI, the new Draft Guideline is intended to outline factors that OSFI expects administrators of federally regulated pension plans to consider as they develop and…

Update: Quebec Derivatives Regulation Amendments Now in Effect

June 10, 2016

Effective June 5, 2016, changes to the Quebec Derivatives Regulation (QDR) came into force. The changes: Expand the scope of the standardized derivatives exemption, such that it now affords relief from both the registration as well as qualification requirements of the Quebec Derivatives Act (QDA). Streamline the training, education and experience requirements of advising representatives, associate advising representatives or chief…

​New Securities Rules for ABCP Conduits Coming into Effect May 5, 2015

February 27, 2015

  Canada’s C$30-billion market for “asset-backed commercial paper” will soon be regulated by Canada’s securities regulators (CSA) for the first time. The new rules published by the CSA (New Rules) are much less extensive than the CSA’s initial 2011 proposals, which contemplated the comprehensive regulation of securitized products, and are milder than the CSA’s more targeted 2014 rewrite (2014 Proposals)….