The Canadian Securities Administrators (CSA), the umbrella organization of Canada’s provincial financial regulators, has proposed to harmonize rules for its clearing agencies with international standards.
The proposal will adopt the “principles for financial market infrastructures” (PFMI) published by the Committee on Payment and Market Infrastructure (CPMI) and the International Organization of Securities Commissions (IOSCO) in 2012.
“It is critical that Canadian financial infrastructures maintain the highest standards in today’s increasingly interconnected capital markets,” said Bill Rice, chair of the CSA and Chair and CEO of the Alberta Securities Commission.
The CSA, together with the Bank of Canada, has also developed supplementary guidance to clarify certain aspects of the PFMIs in the Canadian context.
The comment period for the proposal ends on February 10, 2015.
Canadian Regulator Proposes Harmonization of Clearing House Rules
The Canadian Securities Administrators (CSA), the umbrella organization of Canada’s provincial financial regulators, has proposed to harmonize rules for its clearing agencies with international standards.
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