ONTARIO SECURITIES COMMISSION STAFF NOTICE 91-704
COMPLIANCE REVIEW PLAN FOR OSC RULE 91-507
TRADE REPOSITORIES AND DERIVATIVES DATA REPORTING
MSBs who trade in derivative instruments, including forward agreements, will want to be aware of the Ontario Securities Commission’s project to review compliance by derivatives dealers with the new OTC derivatives trade reporting requirements. Announced in OSC Staff Notice 91-704, the review will focus on “derivatives dealers that are most active in the market”. MSBs are reminded that although today there is no registration regime for derivatives dealers, certain firms may be considered to be “derivatives dealers” by virtue of the activities they conduct. As such, these MSB may be included in the OSC review, which will take over the course of this year and next.
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