The Canadian Securities Administrators (CSA) today published proposed amendments to NI 21-101 Marketplace Operations, NI 23-101 Trading Rules, their companion policies and related forms with the objective of updating and streamlining the instruments' regulatory and reporting requirements.
According to the CSA, the amendments are intended to: (i) increase consistency and streamline the regulatory and reporting requirements of marketplaces; (ii) revise transparency requirements respecting marketplaces dealing in exchange-traded securities; (iii) increase transparency of marketplaces operations; (iv) address other requirements applicable to marketplaces, such as with respect to conflicts of interest that may arise at a marketplace; (v) provide guidance regarding when a dealer would be considered to operate a marketplace; (vi) extend the current exemption from transparency requirements applicable to government debt securities until December 31, 2014; (vii) extend the obligation to not intentionally lock or cross the markets to marketplaces in certain circumstances; and (viii) revise the existing requirements applicable to the information processors.
The CSA is accepting comments until June 16.
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