Securities Law & Instruments

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CSA Staff Notice 94-302 Delivery of Forms Required under National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions



August 3, 2017

Introduction

We, the Canadian Securities Administrators (CSA), are providing guidance regarding the forms required to be delivered by clearing intermediaries and regulated clearing agencies under National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions (NI 94-102).

Background

NI 94-102 entered into force on July 3, 2017. Section 25 and section 43 of NI 94-102 require a clearing intermediary and a regulated clearing agency, respectively, to deliver the applicable form regarding customer collateral to the regulator or securities regulatory authority of each jurisdiction of Canada in which they have a local customer.

Substance and Purpose

NI 94-102 requires that only the information pertaining to the customers in the local jurisdiction be reported to the regulator or securities regulatory authority. The purpose of this Staff Notice is to provide further guidance with respect to the delivery of the required forms.

Format and Delivery Instructions

In Ontario, the forms are required to be filed electronically through the Ontario Securities Commission's Electronic Filing Portal. Please see http://www.osc.gov.on.ca/en/derivatives_participants_forms.htm for more information.

In all other jurisdictions, filers can use the Excel format as set out in the relevant hyperlink in the list below{1} to comply with sections 25 or 43, as applicable, of NI 94-102:

Form 94-102F1 Customer Collateral Report: Direct Intermediary

Form 94-102F2 Customer Collateral Report: Indirect Intermediary

Form 94-102F3 Customer Collateral Report: Regulated Clearing Agency

The forms may also be delivered in a readable pdf format{2}.

If required in the applicable local jurisdiction, please send the required form to the following applicable address:

In Alberta, OTCDerivativesReporting@asc.ca

In British Columbia, derivativesinbox@bcsc.bc.ca

In Manitoba, oversight@gov.mb.ca

In New Brunswick, registration-inscription@fcnb.ca

In Nova Scotia, NSSC_Corp_Finance@novascotia.ca

In Québec, encadrementderives@lautorite.qc.ca

In Saskatchewan, registrationfcaa@gov.sk.ca

Questions

If you have questions about this Notice or the forms, please contact any of the following:

Lise Estelle Brault
Kevin Fine
Co-Chair, CSA Derivatives Committee
Co-Chairman, CSA Derivatives Committee Director, Derivatives Branch
Senior Director, Derivatives Oversight
Ontario Securities Commission
Autorité des marchés financiers
416 593-8109
514-395-0337, ext. 4481
<<kfine@osc.gov.on.ca>>
<<lise-estelle.brault@lautorite.qc.ca>>
 
Paula White
Martin McGregor
Deputy Director, Compliance and Oversight
Legal Counsel, Corporate Finance
Manitoba Securities Commission
Alberta Securities Commission
204-945-5195
403-355-2804
<<paula.white@gov.mb.ca>>
<<martin.mcgregor@asc.ca>>
 
Eric Thong
Abel Lazarus
Derivatives Market Specialist
Senior Securities Analyst
British Columbia Securities Commission
Nova Scotia Securities Commission
604-899-6772
902-424-6859
<<ethong@bcsc.bc.ca>>
<<abel.lazarus@novascotia.ca>>
 
Wendy Morgan
Liz Kutarna
Senior Legal Counsel
Deputy Director, Capital Markets, Securities Division
Financial and Consumer Services Commission (New Brunswick)
Financial and Consumer Affairs Authority of Saskatchewan
506-643-7202
306-787-5871
<<wendy.morgan@fcnb.ca>>
<<liz.kutarna@gov.sk.ca>>

{1} These fillable spreadsheet forms are available at: https://lautorite.qc.ca/en/professionals/securities-and-derivatives/regulation-of-derivatives-markets-in-quebec/

{2} These forms are available on the website of the local securities regulator or regulatory authority.