Blanket Orders

Blanket Order 25-501

Temporary exemption from certain reporting requirements for

Regulated Entities carrying on business in Manitoba

WHEREAS:

(A)       The Manitoba Securities Commission (the “Commission”) has received an application from the Director to make an order which would provide an exemption to any Regulated Entity, as defined below, from certain requirements to provide to the Commission with specified documents or information under securities legislation on a temporary basis.

(B)       On March 11, 2020, the World Health Organization declared the outbreak of coronavirus disease 2019 (“COVID-19”) to be a pandemic. On March 20, 2020, the government of Manitoba declared a state of emergency under the powers set out in sections 10(1) and 10(2) of The Emergency Measures Act (Manitoba) to enable the province to respond to the pandemic. The Director is of the opinion that the pandemic may presents challenges for Regulated Entities in meeting certain obligations under securities legislation, and in particular providing to the Commission documents and information listed in Appendix A to this order.

(C)       Terms defined in the Securities Act (Manitoba) (“Act”), the Commodity Futures Act (Manitoba) (“CFA”) or National Instrument 14-101 Definitions have the same meaning in this order.

(D)       In this order, “Regulated Entity” means a marketplace, as defined in subsection 1,1 of National Instrument 21-101 Marketplace Operation, a clearing agency, as defined in subsection 1(1) of the Act, a designated trade repository, as defined in subsection 1(1) of the Act, an information processor, as defined in subsection 1.1 of National Instrument 21-101 Marketplace Operation  and a commodity futures exchange, as defined in subsection 1(1) of the CFA.

(E)       The Commission has determined that it is not prejudicial to the public interest to issue this order, and that the relief is adequately justified in the circumstances.

IT IS ORDERED:

1.         THAT, under subsection 20(1) the Act and subsection 66(1) of the CFA, a Regulated Entity carrying on business in Manitoba is exempt from the requirement to provide the Commission with a document or other information listed in Appendix A, as applicable, between the date of this order and June 1, 2020 provided that:

a)  the Regulated Entity required to provide the Commission with a document or other information listed in Appendix A, as applicable, between the date of this order and June 1, 2020 must provide the Commission with the document or other information no later than 45 days after the original due date for the document or other information.

b)   For a document or other information listed in Appendix A, the Regulated Entity required to provide the document or other information to the Commission between the date of this order and June 1, 2020 must disclose to the Commission when it provides the document or other information that it is relying on this order and state the reasons why it could not submit the document or other information by the original due date.

2.         THAT, this order comes into effect on March 23, 2020, and remains in effect for a period of 120 days.

BY ORDER OF THE COMMISSION

"Chris Besko"

Director

Appendix A

The exemptions provided herein to Regulated Entities covered by this order are applicable to the requirements described below, made under subsection 31.6, subsection 31.7, subsection 139(1),  of the Act and subsection 15(1), and subsection 16(1) of the CFA under which recognition orders, exemption from recognition orders, registration orders, exemption from registration orders, and designation orders and any processes or protocols are established, and National Instrument 21-101 Marketplace Operation, National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, National Instrument 24-102 Clearing Agency Requirements, Manitoba Securities Commission Rule 91-507 Trade Repositories and Derivatives Data Reporting and.

•    Audited annual financial statements

•    Unaudited non-consolidated annual financial statements with or without notes

•    Unaudited consolidated and unconsolidated interim financial reports and financial viability ratios

•    Risk assessments

•    Independent auditor written report on cost allocation model and internal transfer pricing

•    Report - Exemptions or waivers granted

•    Report - Original listing applications

•    Report - Issuer compliance with rules

•    List of internal audit reports and risk management reports

•    Form 21-101F3 Quarterly Report of Marketplace Activities

•    Report - Quarterly report of users and activities (including qualitative and quantitative data)

•    Report – Quarterly report containing bylaws, rules, circulars made/published during quarter

•    SOC 1 Report - Annual

•    Annual compliance reports

•    Report - Competitors listed on Neo Exchange

•    Report - Conflicts with respect to Competitors

•    Self-assessment report

•    Cost recovery letter

•    Governance Committee’s comments

•    Section 3000 Report

•    Independent Systems Review

•    Form 13-502F7 Specified Regulated Entities – Participation Fee and any associated fees

•    Report – List of participants with access to services