Securities Law & Instruments

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NOTICE OF MINISTERIAL APPROVAL OF
OSC RULE 24-502
EXEMPTION FROM TRANSITIONAL RULE: EXTENSION OF
TRANSITIONAL PHASE-IN PERIOD IN NI 24-101 –
INSTITUTIONAL TRADE MATCHING AND SETTLEMENT



On May 21, 2008, the Minister of Finance approved Rule 24-502 Exemption from Transitional Rule: Extension of Transitional Phase-In Period in National Instrument 24-101 – Institutional Trade Matching and Settlement as a rule under the Securities Act (Ontario). The rule was made by the Commission on March 25, 2008 and was published in the Ontario Securities Commission Bulletin on April 4, 2008 at (2008) 31 OSCB 3819. The rule exempts registrants from the current transition provisions of National Instrument 24-101, effectively replacing them with new transition provisions that defer the National Instrument’s midnight on T matching requirement to July 1, 2010 and extend its transitional phase-in period by an additional 24 months. The rule will come into force on June 30, 2008.

Rule 24-502 is published in Chapter 5 of this Bulletin and at http://www.osc.gov.on.ca/Regulation/Rulemaking/ Current/rrn_part2_index.jsp. No changes have been made to the rule since publication in the Bulletin on April 4, 2008.

June 6. 2008