Friday January 28 2022
News Source: Global Exchanges
Focus: Stock Exchange Regulation
Type: General
Country: Canada
Link: https://bit.ly/3IBPKb0
On 27th January 2022, the Canadian Securities Administrators (CSA) announced amendments to National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives (NI 94-101) and changes to Companion Policy 94-101 Mandatory Central Counterparty Clearing of Derivatives.
NI 94-101 requires that certain market participants clear certain prescribed over-the-counter derivatives through a central counterparty, subject to exemptions set out in the instrument.
The amendments are in response to feedback received from various market participants and are intended to refine the scope of market participants that are subject to the clearing requirement and reduce regulatory burden.
Provided all necessary approvals are obtained, the amendments set out in Appendix B – Laws, Regulations or Instruments of Foreign Jurisdictions Applicable for Substituted Compliance will come into force on April 12th, 2022, and the rest of the amendments will come into force on September 1st, 2022.
Click on the above link for further information