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

    Kristen Rose
    Ontario Securities Commission

    Mark Dickey
    Alberta Securities Commission

    Sylvain Theberge
    Autorite des marches financiers

    Jason (Jay) Booth
    Manitoba Securities Commission

    Andrew Nicholson
    Financial and Consumer Services Commission, New Brunswick

    Tanya Wiltshire
    Nova Scotia Securities Commission

    Janice Callbeck
    Government of Prince Edward Island,
    Superintendent of Securities

    John O'Brien
    Office of the Superintendent of Securities
    Newfoundland and Labrador

    Rhonda Horte
    Office of the Yukon Superintendent of Securities

    Jeff Mason
    Nunavut Securities Office

    Tom Hall
    Office of the Superintendent of Securities,
    Northwest Territories

    Shannon McMillan
    Financial and Consumer Affairs
    Authority of Saskatchewan