The Ontario Securities Commission on Tuesday announced that it will hold a roundtable to discuss proposed reforms to the conduct rules for derivatives dealers and advisors.
In early April, the Canadian Securities Administrators (CSA) proposed rules that aim to address vulnerabilities revealed in both the global financial crisis and a subsequent series of market manipulation scandals.
The CSA’s proposals, which would introduce a new set of conduct rules for derivatives dealers that essentially mimic the existing oversight regime in the equities markets, were issued for a 150-day comment period. Among other things, the proposed rules would introduce basic conduct requirements, establish suitability obligations, and introduce disclosure and supervisory obligations.
The OSC’s roundtable is set for May 29 at the OSC’s offices in Toronto. The regulator says that the agenda for the session will be announced by May 22.
“Representatives of banks, pension funds and buy-side market participants have been invited,” the OSC says in a statement.
Comments on the CSA proposals are due by Sept. 1.