On April 4, 2017, the securities regulators of each of the provinces and territories of Canada–the Canadian Securities Administrators (CSA)–published a press release and CSA Notice and Request for Comments relating to Proposed National Instrument 93-101 entitled Derivatives: Business Conduct (the Business Conduct Rules).

While we expect that there will be a number of comments delivered to the CSA on the Business Conduct Rules, it is an update found in the accompanying press release that will be of the most interest to our clients.

According to the press release, the draft Canadian derivatives dealer/adviser registration rules (the Derivatives Registration Rules) are to be issued soon. In fact, the CSA have extended the comment period on the Business Conduct Rules to allow market participants to review the Derivatives Registration Rules as part of their analysis.

Comments on the Business Conduct Rules are to be submitted by September 1, 2017.