Notice of Ministerial Approval of Memorandum of Understanding - Cooperation and the Exchange of Information Related to the Supervision of Cross-Border Clearing Agencies Operating as Central Counterparties in Ontario and Germany
NOTICE OF MINISTERIAL APPROVAL OF MEMORANDUM OF UNDERSTANDING
COOPERATION AND THE EXCHANGE OF INFORMATION RELATED TO
THE SUPERVISION OF CROSS-BORDER CLEARING AGENCIES OPERATING AS
CENTRAL COUNTERPARTIES IN ONTARIO AND GERMANY
On April 27, 2018, the Minister of Finance approved, pursuant to section 143.10 of the Securities Act (Ontario), the Memorandum of Understanding entered into with the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and Deutsche Bundesbank concerning regulatory cooperation related to the supervision and oversight of clearing agencies operating as central counterparties in Ontario and Germany (the “MOU”).
The MOU provides a comprehensive framework for consultation, cooperation and information-sharing related to the day-to-day supervision and oversight of clearing agencies operating as central counterparties and enhances the OSC’s ability to supervise these entities.
The MoU came into effect on April 27, 2018. The MoU was published in the Bulletin on March 8, 2018 at (2018), 41 OSCB 1806.
Questions may be referred to:
Senior Legal Counsel
Office of Domestic and International Affairs