Amendments to the Manitoba Securities Act providing the Manitoba Securities Commission with authority to regulate over-the-counter derivatives come into force on December 31, 2013. As we described in a post last month, the MSC recently published final rules in respect of product determination, trade repositories and derivatives data reporting that are also expected to come into force on December 31.
Yesterday, the MSC, among other regulators, also published for comment proposed rules to regulate clearing agencies. Until such a rule comes into effect, the MSC has issued a blanket order exempting clearing agencies from the new requirement to be recognized.
For more information, see MSC Notice 2013-49.