Quebec's Autorité des marchés financiers yesterday issued a decision in which it recognizes that the trade reporting rules of the U.S. Commodity Futures Trading Commission and those of the European Securities and Markets Authority are equivalent to the requirements imposed under Regulation 91-507. Under s. 26(5) of  the Regulation, a reporting counterparty is deemed to satisfy certain obligations  of the Regulation where it reports a transaction to a recognized trade repository pursuant to the laws of a foreign jurisdiction which appear on a list determined by the Autorité and certain other conditions are met.

Market participants may consult the list of laws of jurisdictions other than Quebec that are equivalent for the purposes of this deemed compliance provision on the AMF website.

As we've previously discussed, the trade reporting rules come into force beginning today.