I. INTRODUCTION -

On October 15, 2012, the Alberta Securities Commission (the “Commission”) issued a Notice of Republication and Request for Comment regarding proposed amendments to Alberta’s regulation of Over-the-Counter Derivatives Transactions (the “Notice of Republication and Request for Comment”) regarding proposed amendments to legislation under the Securities Act, R.S.A. 2000, and c S-4 (the “Act”) required to:

…enable the Commission to comply with the G20 Commitments in the interim while the Commission and the other CSA jurisdictions continue work to modernize the regulatory framework governing derivatives trades in Canada.

In September 2009 the G20 leaders on behalf of their nations, including Canada, met in Pittsburgh to examine the status of the financial market infrastructures that had failed or undergone significant stress in the years prior. Following this meeting, the G20 nations issued a communiqué and committed, in part, to the following...

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