Notice of BCSC non-objection to the Canadian Investment Regulatory Organization (CIRO) proposed Derivatives Rule Modernization, Stage 1

Notice of BCSC non-objection to proposed amendments to the Investment Dealer Rules of the Canadian Investment Regulatory Organization (CIRO) regarding the derivatives rule modernization – stage 1
CIRO - Rules Bulletin - Derivatives Rule Modernization, Stage 1
CIRO - Appendix A – Clean copy of the Amendments
CIRO - Appendix B – Blackline comparison of the Amendments to current rules
CIRO - Appendix C - Blackline comparison of the Amendments to last publication
CIRO - Appendix D – Summary of public comments received
CIRO - Appendix E - Applying and interpreting the definitions of “hedger” and “institutional client”
CIRO - Appendix F - Derivatives Risk Disclosure Statement

As of January 12, 2023, the BCSC and CIRO’s other recognizing regulators are deemed to have non-objected to or approved the first stage of CIRO’s proposed amendments to modernize the Investment Dealer and Partially Consolidated Rules derivatives-related requirements (the Amendments). The Amendments modernize CIRO rules applicable to OTC derivatives to be consistent with new conduct requirements established in CSA Multilateral Instrument 93-101 and to more closely align with international standards. To align with the effective date of CSA Multilateral Instrument 93-101, the Amendments will be effective September 28, 2024.

Published: January 18, 2024