The Autorité des marchés
financiers (AMF), Quebec's financial services
regulator, issued an important decision yesterday which provides
for the revocation effective September 5, 2015 of Decision No.
2009-PDG-0007 General Decision Respecting the Exemption from
the Application of Sections 54, 56 and the First Paragraph of
Section 82 of the Derivatives Act (the Blanket
Decision). The decision can be found beginning on page 413 of
the April 30, 2015 Bulletin.
The AMF had issued the Blanket Decision on January 22, 2009 in
conjunction with the enactment of the Quebec Derivatives Act (QDA)
to provide transitional relief for transactions and other
activities in relation to certain specified derivatives, subject to
certain conditions. Canadian and foreign market participants which
have relied on this exemption should review their current
derivatives markets activities in Quebec and determine whether any
other statutory relief may be available, whether there may be a
basis
