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ARTICLE · 06 OCTOBER 2010

Update — Quebec Blanket Order Affording Relief for Activities Involving Specified Derivatives to Remain in Effect

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In connection with the coming into effect of the Quebec Derivatives Act (QDA) on February 1, 2009, the Quebec Autorité des marchés financiers (Authority) adopted a blanket decision (the Blanket Decision) carving out certain kinds of derivatives, principally certain specified options and futures (Specified Derivatives) previously regulated by the Quebec Securities Act (QSA), from regulation under the QDA where offered to accredited investors (AIs) in compliance with National Instrument 45-106 — P

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Copyright 2010, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Securities Regulation, October 2010

In connection with the coming into effect of the Quebec Derivatives Act (QDA) on February 1, 2009, the Quebec Autorité des marchés financiers (Authority) adopted a blanket decision (the Blanket Decision) carving out certain kinds of derivatives, principally certain specified options and futures (Specified Derivatives) previously regulated by the Quebec Securities Act (QSA), from regulation under the QDA where offered to accredited investors (AIs) in compliance with National Instrument 45-106 — Prospectus and Registration Exemptions (NI 45-106).

The Blanket Decision thus exempts persons conducting dealer or adviser activities involving Specified Derivatives from the registration requirements of the QDA provided such activities are conducted exclusively with AIs.

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