Securities Law & Instruments

Proposed Instruments, Rules & Policies


This is an overview of current activities related to rule-making, policy development and memorandum of understanding. It lists proposed instruments, rules and policies that are published for public comment, under review, pending the Minister’s review and decision, and expected for publication in final form.

Expected publications for comment
Instruments currently out for public comment
Public comment period closed - comments under review
Instruments with Minister for 60-Day Review and Decision


Expected Publications for Comment

This section lists instruments that are expected to be published for comment within the next three months. This section will be updated on a quarterly basis.

Number Title Expected Publication Date
21-101 Marketplace Operation - Proposed Amendments  April 2014 
51-102  Continuous Disclosure  Obligations - Proposed Amendments (includes related proposed amendments to NI 41-101 General Prospectus Requirements, NI 52-110 Audit Committees) May 2014 
23-101  Trading Rules - Proposed Amendments  May/June 2014 
 25-201  Guidelines for Proxy Advisory Firms  April 2014 



Instruments Currently Out For Public Comment

This section lists all of the rules which are currently out for public comment. You may view all of the comments submitted for each of the listed rules during the current comment period and any previous comment periods by clicking on the links provided below.

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Number Title Published Comments Due
45-106 Prospectus and Registration Exemptions - Amendments (Short Term Debt Prospectus Exemption and Amendments Linked to Securitized Products Proposed Rules)
Comments Received
January 23, 2014 April 23, 2014
81-101 Implementation of Stage 3 Point of Sale Disclosure for Mutual Funds - Point of Sale Delivery of Fund Facts
Comments Received
March 26, 2014 May 26, 2014
45-106 Prospectus and Registration Exemptions - Amendments (Accredited Investor and Minimum Amount Prospectus Exemptions)
Comments Received
February 27, 2014 May 28, 2014
11-769 Statement of Priorities - Request for Comments regarding the Statement of Priorities for Financial year to End March 31, 2015
Comments Received
April 3, 2014 June 1, 2014
45-106  Prospectus and Registration Exemptions - Amendments (Proposed Exemptions and Proposed Reports of Exempt Distribution in Ontario) (includes amendments to OSC Rule 45-501 Ontario Prospectus and Registration Exemptions and related consequential amendments)
Comments Received
March 20, 2014  June 18, 2014 
45-108 Crowdfunding  March 20, 2014  June 18, 2014 



Public Comment Period Closed - Comments Under Review

The public comment period for each of the rules listed in this section has closed. The comments submitted during the comment period are currently being reviewed by OSC and CSA staff. You may view all of the comments submitted for each of the listed rules during all previous comment periods by clicking on the links provided below.

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Number Title Published Comments Due
58-101 Proposed Amendments to Form 58-101F1 - Corporate Governance and Disclosure of National Instrument 58-101 Disclosure of Corporate Governance Practices - Proposed Disclosure Requirements Regarding the Representation of Women on Boards and in Senior Management
Comments Received
January 16, 2014 April 16, 2014
24-503 Clearing Agency Requirements
Comments Received
December 18, 2013 March 19, 2014
91-303 Proposed Model Provincial Rule on Mandatory Central Counterparty Clearing of Derivatives
Comments Received
December 18, 2013 March 19, 2014
91-304 Model Provincial Rule - Derivatives: Customer Clearing and Protection of Customer Collateral and Positions
Comments Received
January 16, 2014 March 19, 2014
81-324 Proposed CSA Mutual Fund Risk Classification Methodology for Use in Fund Facts
Comments Received
December 12, 2013 March 12, 2014
31-103 Proposed Amendments to NI 31-103, NI 33-109, NI 52-107, OSC Rule 33-506 and OSC Rule 35-502 and Related Forms
Comments Received
December 5, 2013 March 4, 2014
33-105 Underwriting Conflicts - Amendments
Comments Received
November 28, 2013 February 26, 2014
51-101 Standards of Disclosure for Oil and Gas Activities (Amendments) October 17, 2013 January 17, 2014
52-108 Auditor Oversight Requirements - Repeal and Replacement
Comments Received
October 17, 2013 January 15, 2014
54-401 Review of the Proxy Voting Infrastructure
Comments Received
August 15, 2013 November 13, 2013



Instruments with Minister for 60-Day Review and Decision

This section identifies all of the rules that are currently with the Minister responsible for the OSC for review and decision and indicates the final day of the Minister's 60 day review period.

Within 60 days after the Commission delivers a rule to the Minister, the Minister may approve or reject the rule, or return it to the Commission for further consideration. If the Minister does not approve, reject or return the rule, it becomes effective 15 days following the conclusion of the 60 day period unless there is a later day specified in the rule in which case the rule comes into force on that later day. You may view the version of the instrument which has been delivered to the Minister for review and decision by clicking on the links below.

Number Title Minister's Decision Required by
  Memorandum of Understanding Concerning Cooperation and the Exchange of Information Related to the Supervision of Cross-Border Covered Entities May 26, 2014
91-507  Trade Repositories and Derivatives Data Reporting  June 16, 2014 
  Memorandum of Understanding Regarding Cooperative Oversight of Clearing Agencies among: Bank of Canada, Autorité des marchés financiers, British Columbia Securities Commission and Ontario Securities Commission  June 9, 2014 
  Exchange of Letters  Concerning Cooperation among:  Alberta Securities Commission, British Columbia Securities Commission, Ontario Securities Commission, Autorité des marches financiers Quebec, and the Superintendencia de Valores y Seguros of Chile  June 9, 2014 

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Related - Backgrounder on Rule Making | CSA Numbering System | Table of Concordance