Canada Further Harmonizes Derivatives Trade Reporting Rules

On February 16, 2016, the Canadian Securities Administrators announced proposed changes (the "Proposed Amendments") to Multilateral Instrument 96-101 Trade Repositories and Derivatives Data Reporting and the related Companion Policy 96-101CP (together, the "TR Rule") published earlier this year by the securities regulatory authorities in Alberta, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Saskatchewan and Yukon (collectively, the "Participating Jurisdictions"). Similar derivative trade reporting rules are already in effect in Manitoba, Ontario and Quebec (the "Existing Rules"). For information on the TR Rule in the Participating Jurisdictions, see BLG's bulletin available here. Derivatives trade reporting in the Participating Jurisdictions begins on July 29, 2016 for clearing agencies and derivatives dealers and on November 1, 2016 for other reporting parties. The comment period for the