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CSA Staff Notice 94-302 Delivery of Forms Required under National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions |
Introduction
This Canadian Securities Administrators Staff Notice provides guidance regarding the forms required to be delivered by clearing intermediaries and regulated clearing agencies under National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions (NI 94-102).
Background
NI 94-102 came into force on July 3, 2017. Section 25 and section 43 of NI 94-102 require a clearing intermediary and a regulated clearing agency, respectively, to deliver the applicable form regarding customer collateral to the regulator or securities regulatory authority of each jurisdiction of Canada in which they have a local customer.
Substance and Purpose
NI 94-102 requires that only the information pertaining to the customers in the local jurisdiction be reported to the regulator or securities regulatory authority. The purpose of this Staff Notice is to provide further guidance with respect to the delivery of the required forms.
Format and Delivery Instructions
In Ontario, the forms are required to be filed electronically through the Ontario Securities Commission’s Electronic Filing Portal. Please see http://www.osc.gov.on.ca/en/derivatives_participants_forms.htm for more information.
In all other jurisdictions, filers can use the Excel forms (including the French versions in Québec and New Brunswick) provided in the hyperlinks in the list below[1] to comply with section 25 or 43, as applicable, of NI 94-102:
- Form 94-102F1 Customer Collateral Report: Direct Intermediary
- Form 94-102F2 Customer Collateral Report: Indirect Intermediary
• Form 94-102F3 Customer Collateral Report: Regulated Clearing Agency
The forms may also be delivered in a searchable pdf format.[2]
If required in the applicable local jurisdiction, please send the required form to the following applicable address:
In Alberta, OTCDerivativesReporting@asc.ca
In British Columbia, derivativesinbox@bcsc.bc.ca
In Manitoba, oversight@gov.mb.ca
In New Brunswick, registration-inscription@fcnb.ca
In Nova Scotia, NSSC_Corp_Finance@novascotia.ca
In Québec, encadrementderives@lautorite.qc.ca
In Saskatchewan, registrationfcaa@gov.sk.ca
Questions
If you have questions about this Staff Notice or the forms, please contact any of the following:
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Lise Estelle Brault Co-Chair, CSA Derivatives Committee Senior Director, Derivatives Oversight Autorité des marchés financiers 514-395-0337, ext. 4481 |
Kevin Fine Co-Chairman, CSA Derivatives Committee Director, Derivatives Branch Ontario Securities Commission 416 593-8109 |
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Paula White Deputy Director, Compliance and Oversight Manitoba Securities Commission 204-945-5195 |
Martin McGregor Legal Counsel, Corporate Finance Alberta Securities Commission 403-355-2804 |
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Eric Thong Derivatives Market Specialist British Columbia Securities Commission 604-899-6772
Wendy Morgan Senior Legal Counsel Financial and Consumer Services Commission (New Brunswick) 506-643-7202 |
Abel Lazarus Senior Securities Analyst Nova Scotia Securities Commission 902-424-6859
Liz Kutarna Deputy Director, Capital Markets, Securities Division Financial and Consumer Affairs Authority of Saskatchewan 306-787-5871 |
[1] These fillable spreadsheet forms are available at: https://lautorite.qc.ca/en/professionals/securities-and-derivatives/regulation-of-derivatives-markets-in-quebec/
[2] These forms are available on the website of the local securities regulatory authority.