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ARTICLE · 24 APRIL 2012

Canadian Securities Administrators Release Consultation Paper 91-405 - Derivatives: End-User Exemption

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On April 13, 2012, the Canadian Securities Administrators Derivatives Committee (the "Committee") released Consultation Paper 91-405 on end-user exemption ("Consultation Paper 91-405")

CanadaFinance and Banking
Carol Derk
Carol Derk
K. Ruth Liu
K. Ruth Liu
Julie Mansi
Julie Mansi
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On April 13, 2012, the Canadian Securities Administrators Derivatives Committee (the "Committee") released Consultation Paper 91-405 on end-user exemption ("Consultation Paper 91-405") [available here]. Consultation Paper 91-405 is part of a series of eight papers that expand on the proposals for the regulation of over-the-counter (OTC) derivatives set out in Consultation Paper 91-401. The comment period for Consultation Paper 91-405 will expire on June 15, 2012.

To date, the CSA have released consultation papers regarding their proposals on (i) trade repositories, (ii) surveillance and enforcement and (iii) segregation (of posted collateral) and portability (of customer accounts between clearing members). Please see our earlier client alerts entitled Over-The-Counter (OTC) Derivatives Market in Canada: On the Road to Reform and Regulation [available here] and Canadian Securities Administrators Release Consultation Paper 91-404 [available here] on some of these

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