Canadian Securities Administrators

Canadian Securities Administrators

July 07, 2016 13:04 ET

CORRECTION/Canadian Securities Regulators Publish Consultation Paper on Margin and Collateral Requirements for Non-Centrally Cleared Derivatives

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 7, 2016) - In the release issued earlier today by the Canadian Securities Administrators, please be advised that the body of the text was mistakenly taken from an unrelated press release. Complete corrected text follows.

The Canadian Securities Administrators (CSA) today published for comment CSA Consultation Paper 95-401 Margin and Collateral Requirements for Non-Centrally Cleared Derivatives. The Consultation Paper proposes a framework for the calculation and exchange of margin and collateral relating to non-centrally cleared derivatives.

"This proposed framework is the CSA's initial step to develop rules that protect market participants entering into non-centrally cleared derivatives by addressing counterparty risk," said Louis Morisset, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers. "The policy recommendations in this proposed framework are broadly consistent with international standards and substantially harmonized with the Office of the Superintendent of Financial Institutions' margin requirements for federally regulated financial institutions."

This Consultation Paper continues the CSA's efforts to implement regulatory oversight of the over-the-counter derivatives market in Canada, in response to the regulatory reform commitments made by leaders of the G20 countries.

The Consultation Paper can be found on CSA members' websites. The comment period is open until September 6, 2016.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

Contact Information

  • Alison Walker
    British Columbia Securities Commission
    604-899-6713

    Kristen Rose
    Ontario Securities Commission
    416-593-2336

    Mark Dickey
    Alberta Securities Commission
    403-297-4481

    Sylvain Theberge
    Autorite des marches financiers
    514-940-2176

    Jason (Jay) Booth
    Manitoba Securities Commission
    204-945-1660

    Andrew Nicholson
    Financial and Consumer Services Commission, New Brunswick
    506-658-3021

    Tanya Wiltshire
    Nova Scotia Securities Commission
    902-424-8586

    Janice Callbeck
    Government of Prince Edward Island,
    Superintendent of Securities
    902-368-6288

    John O'Brien
    Office of the Superintendent of Securities
    Newfoundland and Labrador
    709-729-4909

    Rhonda Horte
    Office of the Yukon Superintendent of Securities
    867-667-5466

    Jeff Mason
    Nunavut Securities Office
    867-975-6591

    Tom Hall
    Office of the Superintendent of Securities,
    Northwest Territories
    867-767-9305

    Shannon McMillan
    Financial and Consumer Affairs
    Authority of Saskatchewan
    306-798-4160