Proposed Derivatives Product Determination And Trade Reporting Rules Announced By Five Additional Provinces

On January 21, 2015, the securities regulators in Alberta, British Columbia, New Brunswick, Nova Scotia and Saskatchewan (the "Participating Provinces") published for comment proposed Multilateral Instrument 91-101 Derivatives: Product Determination and Multilateral Instrument 96-101 Trade Repositories and Derivatives Data Reporting (collectively, the "Proposed Instruments"), copies of which are available [here]. The 60 day comment period for the Proposed Instruments will expire on March 24, 2015.

Background

In December 2012, the Canadian Securities Administrators Derivatives Committee (the "Committee") released Consultation Paper 91-301 that set out model provincial rules dealing with product determination and trade reporting (collectively, the "Model Rules"). In June 2013, multi-province CSA Consultation Paper 91-302 was published with updated Model Rules. Also in June 2013, the securities regulators in Manitoba, Ontario and Québec published proposed province