For Immediate Release
July 7, 2016

Canadian securities regulators publish consultation paper on margin and collateral requirements for non-centrally cleared derivatives

Vancouver – 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.

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Renseignements :

Allison Walker
British Columbia Securities Commission
604 899-6713

Kristen Rose  
Ontario Securities Commission

Mark Dickey
Alberta Securities Commission

Sylvain Théberge  
Autorité des marchés financiers

Jason (Jay) Booth
Manitoba Securities Commission

Andrew Nicholson
Financial and Consumer Services
Commission, New Brunswick

Tanya Wiltshire
Nova Scotia Securities Commission

Janice Callbeck
Office of the 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