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ARTICLE · 06 JULY 2012

Derivatives: OTC Central: Canadian Securities Administrators Release Consultation Paper 91-406

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At the end of June 2012, the Canadian Securities Administrators Derivatives Committee (the "Committee") released its corrected version of Consultation Paper 91-406 on OTC central counterparty clearing ("Consultation Paper 91-406").

CanadaFinance and Banking
Carol Derk
Carol Derk
Stephen Redican
Stephen Redican
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At the end of June 2012, the Canadian Securities Administrators Derivatives Committee (the "Committee") released its corrected version of Consultation Paper 91-406 on OTC central counterparty clearing ("Consultation Paper 91-406") [available here]. Consultation Paper 91-406 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 91-406 will expire on September 21, 2012.

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

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