Notice of Commission Approval - Amendments to Transaction Reporting for Debt Securities - IIROC

Market Regulation Document Type
IIROC rule review

March 28, 2019
Updated - May 17, 2019
Updated - March 26, 2020

 

NOTICE OF COMMISSION APPROVAL

INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)

AMENDMENTS TO TRANSACTION REPORTING FOR DEBT SECURITIES

 

The Ontario Securities Commission has approved IIROC’s proposed amendments to the Dealer Member Rules on Transaction Reporting for Debt Securities (the “Amendments”). 

The Amendments were described in IIROC Notice 18-0052 – Rules Notice – Request for Comments – DMR – Proposed Amendments to Transaction Reporting for Debt Securities that was published on March 8, 2018, and available at http://www.iiroc.ca.  A summary of the public comments and IIROC's responses, as well as the IIROC Notice of Approval / Implementation 19-0052 including the Amendments, can be found at http://www.osc.gov.on.ca.

The effective date for the Amendments, as revised, is October 28, 2019.  On May 16, 2019, IIROC published a Technical Notice – 19-0089, which revised the implementation schedule.  On March 26, 2020, in view of the COVID-19 pandemic and to reduce regulatory burden, IIROC published a Technical Notice – 20-0057 which further revised the implementation date as follows:

Transaction Type

Original Implementation Date

New Implementation Date

Reportable Repo Transactions (reportable information set out in rows 31-41 of subsection 2.4(c) of Dealer Member Rule 2800c)

October 28, 2019

No Change

Reportable Retail and Institutional Debt Transactions (all other than Repo)

October 28, 2019
(subsequently revised to April 27, 2020)

July 27, 2020

 

In addition, the Alberta Securities Commission, the Autorité des marchés financiers, the British Columbia Securities Commission, the Financial and Consumer Affairs Authority of Saskatchewan, the Financial and Consumer Services Commission (New Brunswick), Legal Registries Division, Department of Justice (Northwest Territories), Legal Registries Division, Department of Justice (Nunavut), the Manitoba Securities Commission, the Nova Scotia Securities Commission, the Office of the Superintendent of Securities, Service Newfoundland and Labrador, the Office of the Yukon Superintendent of Securities, and the Prince Edward Island Office of the Superintendent of Securities have approved or not objected to the Amendments.