The Autorité des marchés financiers (AMF) announced that it will host a public consultation next month on proposals designed to develop a new oversight regime for the over-the-counter (OTC) derivatives markets
The event, which is scheduled to be held on Sept. 12 at the regulator’s offices in Montreal, will focus on the Canadian Securities Administrators’ (CSA) proposed new registration and business conduct rules for the OTC derivatives markets
The Ontario Securities Commission (OSC) also had announced earlier that it plans to host a roundtable on the proposals on Sept. 20 in Toronto.
The CSA proposed its new derivatives registration rule in April and launched a second consultation on proposed business conduct rules in June. Both proposals are out for comment until Sept. 17.
The new business conduct regime would set out requirements for dealing with conflicts of interest, establish “know your client” obligations, compliance and recordkeeping requirements, and senior management duties, in the derivatives market.
Coupled with the business conduct rules, the proposed registration rules — which would establish a registration obligation and set out registration requirements — the CSA aims to establish a comprehensive oversight regime for the OTC derivatives markets.
The AMF notes that the event, which will be in French, is recognized as continuing education by the Barreau du Québec.