BCN 2010/09 - Adoption of BC Instrument 21-504 Exemption from filing period requirement for change in Form 21-101F1 Exhibit N [BCN]
| Published Date: | 2010-03-22 |
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Concurrently Published:
Introduction
Effective March 22, 2010, the Commission is adopting BC Instrument 21-504 Exemption from filing period requirement for change in Form 21-101F1 Exhibit N.
National Instrument 21-101 Marketplace Operation requires a recognized exchange to file an amendment to information contained in Form 21-101F1 InformationStatement - Exchange or Quotation and Trade Reporting System (21-101F1) at least 45 days before it implements a "significant" change to a matter set out 21-101F1.
The current multi-market trading environment requires marketplaces, including recognized exchanges, to make frequent changes to fees and fee models to remain competitive. As a result, the 45-day filing requirement has become unduly onerous.
BC Instrument 21-504 provides recognized exchanges with an exemption from the requirement to file changes to information previously provided in 21-101F1 Exhibit N (fees) if they file, in the manner set out in 21-101F1, the required amendment to Exhibit N at least seven business days before implementing the change.
Questions
You may refer questions to:
Tony Wong
Senior Legal Counsel
British Columbia Securities Commission
(604) 899-6764
(800) 373-6393 (toll free across Canada)
twong@bcsc.bc.ca
March 22, 2010
Brenda M. Leong
Chair and Chief Executive Officer
Ref: Securities Act, sections 33 and 187
This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website atwww.bcsc.bc.ca in the section Securities Law & Policy: Policies & Instruments.