Global Correspondence
GFMA Submits Comments to the CSA on Model Provincial Rules Related to Derivatives
The Global Foreign Exchange Division (GFXD) of GFMA provides comments to the Canadian Securities Administration (CSA) on the CSA Consultation Paper 91-301 – Model Provincial Rules – Derivatives: Product Determination and Trade Repositories and Derivatives Data Reporting. GFXD broadly supports the proposed approach outlined in the Model Rules and welcomes the recognition and allowances made for parties and transactions covered by the Model Rules to be reported to foreign-based trade repositories. GFXD also welcomes the efforts by the CSA to harmonise reporting requirements under the TR Rules with those that will apply internationally and the ability to apply for exemptions on the grounds of equivalency.
