Canadian Securities Regulators Strengthen Over-The-Counter Rules
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/10/12 -- Members of the Canadian Securities Administrators (CSA) today published advance notice of adoption of Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets (the OTC rule). The OTC rule addresses the damage to the reputation of Canada's capital markets by market participants with strong connections to Canadian jurisdictions who engage in abusive activities through OTC markets in the U.S.
The OTC rule:
"The reputation of Canada's capital markets have been negatively impacted by market participants who engage in questionable activities through the OTC markets in the United States," said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission. "We have enacted the OTC rule to address this reputational harm, and to help protect legitimate issuers, investment dealers, and other market participants in participating jurisdictions."
In connection with the adoption of the OTC rule, the CSA is also making consequential changes to National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions and CSA Staff Notice 12-307 Applications for a Decision that an issuer is not a Reporting Issuer.
The members of the CSA that are participating in this publication include all jurisdictions with the exception of Ontario.
Subject to all necessary ministerial approvals, the OTC Rule will come into force on July 31, 2012.
The CSA, the council of the securities regulators of Canada's provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
Contacts:
British Columbia Securities Commission
Richard Gilhooley
604-899-6713
Alberta Securities Commission
Mark Dickey
403-297-4481
Saskatchewan Financial Services Commission
Dean Murrison
306-787-5879
PEI Securities Office
Office of the Attorney General
Janice Callbeck
902-368-6288
Autorite des marches financiers
Sylvain Theberge
514-940-2176
Financial Services Regulation Div.
Newfoundland and Labrador
Doug Connolly
709-729-2594
Yukon Securities Office
Helena Hrubesova
867-667-5466
Nova Scotia Securities Commission
Shirley Lee
902-424-5441
Manitoba Securities Commission
Ainsley Cunningham
204-945-4733
Nunavut Securities Office
Louis Arki
867-975-6587
New Brunswick Securities Commission
Wendy Connors-Beckett
506 643-7745
Northwest Territories Securities Office
Donn MacDougall
867-920-8984
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Datum: 10.05.2012 - 10:49 Uhr
Sprache: Deutsch
News-ID 1113158
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