OSC Seeks Stakeholder Input On Proposed Derivatives Business Conduct Rule

On May 29, 2017, the Ontario Securities Commission (OSC) hosted a half-day roundtable session to discuss the recently published Proposed National Instrument 93-101 – Derivatives: Business Conduct (Business Conduct Rule). Specific details regarding the Business Conduct Rule are discussed in our April 2017 Blakes Bulletin: Canadian Regulators Propose Broad Derivatives Dealer and Adviser Business Conduct Rules.

The roundtable session included a panel of buy-side and sell-side participants from the institutional market, followed by a separate panel of representatives for the retail market. The OSC presented a few general comments on the Business Conduct Rule and put questions to the panels to facilitate discussion. Attendees were invited to identify concerns with the Business Conduct Rule, however, the roundtable did not include a session where the OSC took questions on the rule or responded to feedback.