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ARTICLE · 01 MARCH 2017

Proposed Amendments To Quebec Derivatives Regulation

McCarthy Tétrault
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The Autorité des marchés financiers (AMF) published for comments on February 1, 2017 proposed amendments (Proposed Amendments) to the Derivatives Regulation (Québec) ("QDR").

CanadaFinance and Banking

The Autorité des marchés financiers (AMF) published for comments on February 1, 2017 proposed amendments (Proposed Amendments) to the Derivatives Regulation (Québec) ("QDR").

The Proposed Amendments address three matters: filing requirements when dealing with hedgers, prohibiting the offering of binary options to individuals, and reporting obligations of qualified persons.

Filing Requirements When Dealing With Hedgers

The Quebec Derivatives Act ("QDA") provides an exemption from almost all of its requirements when accredited counterparties engage in activities or transactions in over-the-counter ("OTC") derivatives. Accredited counterparties as defined in the QDA are in general institutional investors such as pension funds and financial institutions but also include companies holding minimum net assets of more than $10 million and individuals holding minimum net assets of more than $5 million and meet other prescribed conditions. A hedger as defined in the QDA

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