Requests for Comment

This notice describes proposed amendments to National Instrument 24-102 - Clearing Agency Requirements, and its companion policy, that enhance operational system requirements, align aspects of the Instrument more closely with similar provisions in National Instrument 21-101 Marketplace Operation, and make changes to ensure consistency with international standards. The comment period for this proposal expires on January 16, 2019.

This is a request for comment on proposed amendments to certain custody-related provisions of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, as a consequence of recent custody-related amendments to National Instrument 81-102 Investment Funds. The proposed amendments expand the set of market participants that can custody cash or securities deposited as margin for transactions that involve certain options, futures and derivatives outside of Canada. The comment period for this proposal expires on December 24, 2018

The CSA is seeking comment on proposed amendments to National Instrument 81-105 Mutual Fund Sales Practices to implement the CSA's policy response to investor protection and market efficiency issues arising from the prevailing practice of investment fund managers by restricting the compensation that members of the organization of publicly-offered mutual funds.  The comment period expires on December 13, 2018.

The Canadian Securities Administrators (the CSA) are publishing for comment proposed amendments to National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (NI 52-112), and the related companion policies and multilateral instrument.  The proposed instrument establishes disclosure requirements for issuers that disclose non-GAAP and other financial measures. These measures often lack standardized meanings, resulting in potentially misleading or confusing disclosure.  Comment period expires December 5, 2018.

In the attached notice the Canadian Securities Administrators (the CSA) are publishing for comment proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103), and the related companion policy and forms. Specifically, this notice describes proposed amendments to the registrant conduct provisions in NI 31-103 in order to better align the interests of registrants with the interests of their clients, to improve outcomes for clients, and to make clearer to clients the nature and the terms of their relationship with registrants.

Comment period expires October 19, 2018.

This notice describes Proposed National Instrument NI 93-101 Derivatives: Business Conduct and related documents. The proposed instrument describes specific business conduct requirements for derivatives dealers and derivatives advisers. The comment period for the proposal expires on September 17, 2018.

This notice describes Proposed National Instrument 93-102 Derivatives: Registration and related documents. The proposed instrument describes specific requirements for persons that have registration obligations because of trading in or advising on certain derivatives. The comment period for this proposal expires on September 17, 2018.

Proposal for mandatory Post-Trade Transparency of Trades in Government Debt Securities, Expanded Transparency of Trades in Corporate Debt Securities and Proposed Amendments to National Instrument 21-101 Marketplace Operation and Related Companion Policy

CSA staff are seeking comment on the use of soliciting dealer arrangements in different contexts. The consultation period expires on June 11, 2018.

The Commission is proposing amendments to the Securities Regulation to amend some fees (annual fees for registrants, prospectus filings, exempt distribution report filings, applications for various orders) and to add some new fees (international dealers and advisers, regulated entities such as exchanges and clearing agencies). The comment period expires on May 31, 2018.

The BCSC is seeking comment on disclosure requirements relating to the representation of women on boards and in executive officer positions. The consultation period expires on April 10, 2018.

Consulting on the Securities Law Framework for Fintech Regulation

The BCSC is publishing this notice to obtain public comment on questions it has relating to financial technology (fintech) and potential regulatory action. The notice focuses on five areas: crowdfunding and online lending, online advisers, cryptocurrency funds, initial coin offerings and virtual currencies, and fintech regulation in the future. The comment period expires Tuesday, April 3, 2018.

This notice describes proposed amendments to National Instrument 94-101 - Mandatory Central Counterparty Clearing of Derivatives and related documents. The comment period for this proposal expires on January 10, 2018.

The purpose of this Notice is to notify the public that the comment periods for National Instrument 93-101 - Derivatives Business Conduct and National Instrument 93-102 - Derivatives: Registration will not overlap. The comment period for National Instrument 93-101 - Derivatives: Business Conduct will end on September 1, 2017, however additional comments about that Instrument will be accepted after that date if they arise as a consequence of the review of National Instrument 93-102 - Derivatives: Registration.

The CSA publishes this consultation paper to seek comments on potential options for reducing regulatory burden for non-investment fund reporting issuers in the public markets. The consultation period expires July 28, 2017.

CSA Consultation Paper 52-403 Auditor Oversight Issues in Foreign Jurisdictions

The CSA publishes this consultation paper to seek comments on whether to consider in National Instrument 52-108 Auditor Oversight to introduce certain oversight requirements for audits done by foreign firms. The consultation period expires June 24, 2017.

CSA Consultation Paper 81-408 - Consultation on the Option of Discontinuing Embedded Commissions

This paper identifies investor protection and market efficiency concerns regarding embedded commissions.  The paper seeks comment on the option of discontinuing embedded commissions for all investment funds and structured notes.  In particular, the paper seeks input from stakeholders on the potential effects to investors and market participants of discontinuing embedded commissions, including how any negative impacts of such a change could be mitigated and possible alternative options to address the identified concerns.  Comments may be submitted in writing on or before June 9, 2017.

We are publishing for comment proposed amendments to the investment fund regime that would (i) introduce investment restrictions for non-redeemable investment funds, (ii) replace the commodity pool regime with a new alternative fund regime with amended investment restrictions, and (iii) align the disclosure regime for non-exchange traded commodity pools to be similar to the conventional mutual funds. The comment period ends on December 22, 2016.

The CSA is publishing this paper to obtain public comment on its recommendations about the regulation of margin and collateral requirements for some non-centrally cleared derivatives. The comment period expires September 6, 2016.  

This paper seeks comment on proposed regulatory action aimed at enhancing the obligations that advisers, dealers and representatives owe to their clients. It is the next step in the CSA’s work towards improving the relationship between clients and their advisers, dealers and representatives. The paper seeks comment on a set of proposed regulatory reforms to National Instrument 31-103 – Registration Requirements, Exemptions and Ongoing Registrant Obligations that would work together to better align the interests of registrants to the interests of their clients and enhance various specific obligations that registrants owe to their clients.
 

This notice summarizes the CSA’s review of the proxy voting infrastructure, seeks comment on proposed meeting vote reconciliation protocols and outlines the CSA’s next steps. The comment period ends on July 15, 2016.

This notice is publishing for comment a proposed prospectus exemption that would, subject to certain conditions, allow issuers listed on a Canadian exchange to raise money by distributing securities to investors who have obtained advice about the suitability of the investment from an investment dealer. The comment period ends on June 15, 2015.

The CSA is publishing this paper to obtain public comment on its recommendations about the regulation of derivatives trading facilities. The comment period expires March 30, 2015.

Notice and Request for Comment: Proposed CSA Mutual Fund Risk Classification Methodology for Use in Fund Facts

The Canadian Securities Administrators are publishing for a 90-day comment period a CSA risk classification methodology for use by mutual fund managers in the Fund Facts document

CSA Notice and Request for Comment - Proposed National Instrument 62-105 Security Holder Rights Plans, Proposed Companion Policy 62-105CP Security Holder Rights Plans and Proposed Consequential Amendments

The CSA is publishing this paper to obtain public comment on its recommendations about the registration of key derivatives market participants.