CSA proposes derivatives market registration and regulation

The Canadian Securities Administrators (CSA) today published for comment Consultation Paper 91-407 – Derivatives: Registration, which sets out the CSA’s recommendations on registration and regulation of market participants trading in derivatives.

Read: CFTC to weaken derivatives rules

This paper details recommendations on issues such as:

• the activities that will trigger derivatives registration;
• the categories of derivatives registrants; and
• the obligations of the derivatives registrants.

“The G-20 has called for improvements to the over-the-counter derivatives markets that improve transparency, mitigate systemic risk, and protect against market abuse,” said Bill Rice, chair of the CSA and chair and CEO of the Alberta Securities Commission. “Responding to the G-20, the CSA has developed key recommendations on the regulation of key participants in Canada’s derivatives markets that will allow Canada to comply with international standards.”

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This consultation paper is part of a series of eight CSA papers developed to improve regulatory oversight of the OTC derivatives market in Canada. Market participants are invited to provide comments to this consultation paper by June 17, 2013.

Read: Why you should consider credit derivatives

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