Many companies in the Canadian energy industry or companies that transact in the Canadian energy industry are dealing with the new trade reporting requirements that were published by the Ontario Securities Commission (OSC), the Manitoba Securities Commission (MSC) and the Autorité des marchés financiers "[provincial regulator in Québec]" (AMF) in Rule 91-507. The Trade Reporting Rules require "reporting counterparties" to report certain over-the counter ("OTC") derivatives data to "designated" or "recognized" trade repositories with respect to transactions involving "local counterparties". Unlike the federal regulation of OTC swaps in the U.S. under the Dodd-Frank Act, each Canadian province or territory will issue its own individual set of regulatory requirements for OTC derivatives.
The presenters of this webinar will discuss the Canadian derivatives regulatory reform regime and its journey so far. In addition, the presenters will review the requirement to report trades that went into effect on October 31, 2014 by the OSC, the MSC and the AMF involving a "clearing agency" or a Dealer. The reporting requirements for trades that do not involve such entities will begin on June 30, 2015.