Over-the-Counter (OTC) Derivatives Market in Canada: On the Road to Reform and Regulation

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The Canadian OTC Derivatives Working Group and the Canadian Securities Administrators Derivatives Committee have each published a paper that sets out market reform recommendations and regulatory proposals for implementing Canada’s G20 commitments.

On October 26, 2010, the Canadian OTC Derivatives Working Group (the OTCDWG) published a discussion paper entitled Reform of Over-the-Counter Derivatives in Canada: Discussion Paper from the Canadian OTC Derivatives Working Group. This paper sets out the OTCDWG’s interim recommendations for implementing Canada’s G20 commitments related to reforming the infrastructure of much of the Canadian OTC derivatives market.

In a related development, on November 2, 2010, the Canadian Securities Administrators Derivatives Committee (the CSADC) released a consultation paper entitled Consultation Paper 91-401 on Over-the-Counter Derivatives Regulation in Canada. This paper sets out the CSADC's proposals regarding the regulation of OTC derivatives in light of Canada's G20 commitments to develop more robust regulatory oversight of the Canadian OTC derivatives market.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Stephen Redican | Attorney Advertising

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