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ARTICLE · 13 DECEMBER 2007

Proposed Federal Regulations For Principal Protected Notes

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The Department of Finance proposes new regulations for principal protected notes (PPNs) issued by federally-regulated deposit taking institutions, replacing the existing Index-linked Deposits Interest Disclosure Regulations

CanadaFinance and Banking
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Article by Michael Sharp and Cynthia Sargeant, © 2007, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Securities Regulations, December 2007

The federal Department of Finance recently published for comment proposed regulations (Regulations) on principal protected notes (PPNs) issued by federally-regulated deposit taking institutions. The Regulations are proposed to be brought into force on April 1, 2008, and are open for comment until December 24, 2007. They will replace the existing Index-linked Deposits Interest Disclosure Regulations for banks, co-operative credit associations and trust and loan companies, first introduced in 2002 and now seen as inadequate for the complex PPNs currently available in the market.

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