On January 22, 2016, Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Saskatchewan, the Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island and Yukon have proposed the adoption of derivative scope and trade reporting rules already similarly in effect in Ontario, Manitoba and Quebec. Multilateral Instrument 96-101 Trade Repositories and Derivatives Data Reportingand the related Companion Policy (the TR Rule) requires that all over-the-counter derivative transactions involving a local counterparty be reported to a designated trade repository. Multilateral Instrument 91-101Derivatives: Product Determination and the related Companion Policy outlines the products that are considered derivatives and therefore subject to the TR Rule.

For background on the initial adoption of the TR Rule, see our nutshell on this topic.