In its August 6, 2015 bulletin, the Autorité des marchés financiers (AMF) reminds all unregistered firms and individuals availing themselves of Blanket Order No. 2009-PDG-0007 (the Blanket Order) in Québec that
- the Blanket Order will be revoked as of September 5, 2015 (for the April 22, 2015 revocation order, see the AMF’s bulletin dated April 30, 2015, Vol. 12, No. 17) and
- they will have to file – no later than September 4, 2015 – a completed form 33-109 F6 Firm Registration with AMF to continue dealing in listed options and futures derivatives for which an exemption was available in the Blanket Order.
The AMF also points out to persons who are not participating dealer members of the Investment Industry Regulatory Organization of Canada (IIROC) that they will also have to concurrently file an application with IIROC, as it is a prerequisite for registration as a derivatives dealer with AMF. Applicants are expected to complete their registration within 6 months of filing.
All entities who are relying on the Blanket Order and intend to continue to deal in these listed options and futures in Québec should immediately consider applying for registration as derivatives dealers under the Québec Derivatives Act if they have not done so. Discretionary registration exemptions may also be granted by the AMF. The existing statutory exemptions for over-the-counter derivatives and standardized derivatives are not affected by this revocation.