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ARTICLE · 25 MAY 2025

Canada Rewrite – Top 6 Changes That You Need to Know

Canadian regulations harmonised with other global trade reporting regimes, to have improved data quality, transparency and standards.

CanadaInternational Law

Canada Rewrite rules are set to commence on 25 July 2025 (Go Live). The intent of the regulatory updates is to harmonise the Canadian regulations with other global trade reporting regimes, to have improved data quality, transparency and standards – this has resulted in major changes being introduced.

In sharp contrast to the other recent global rewrite and refits (EMIR, ASIC, MAS etc), ISO 20022 will not be included in this stage of Canada Rewrite. It is expected to be introduced in a future rewrite for the CFTC and therefore the CSA, around 2026. Therefore, CSV formats are still allowed to be reported, with the XML format expected to be introduced at a later stage.

It is important to note that the Canadian trade reporting regime is separately implemented by each of Canada's 13 provincial regulators. Collectively, these provincial regulators act as a co-ordinator and in that capacity are known as the 'Canadian Securities Administrators' (CSA).

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