Request for Comment: Proposed amendments to MFDA Rules 2.3.2 (Limited Trading Authorization), 2.3.3 (Designation) and 5.1 (Requirement for Records)
The BCSC is publishing for a 90-day comment period proposed amendments to MFDA Rules 2.3.2 (Limited Trading Authorization), 2.3.3 (Designation) and 5.1 (Requirement for Records). Under the proposed amendments, use of the Limited Trading Authorization (LTA) form would no longer be required for the purpose of complying with MFDA Rules. The objectives of the proposed amendments are to reduce unnecessary regulatory burden, revise MFDA Rules to reflect the standardization of industry practices in this area, ensure that MFDA requirements in this area are consistent with those of other Canadian securities regulators, and to address the potential for trade execution delays related to the requirement to use a prescribed form of LTA, having regard to challenges arising as a result of the COVID-19 global pandemic. Section IV of the MFDA’s notice sets out the process for submitting comments.
Date published: December 24, 2020
Comment period expires: March 24, 2021