THE MANITOBA SECURITIES COMMISSION
MSC Rule No. 2023-29
(Section 149.1, The Securities Act)
Amendments to
Manitoba Securities Commission Rule 91-507
Trade Repositories and Derivatives Data Reporting
1. Manitoba Securities Commission Rule 91-507 Trade Repositories and Derivatives Data Reporting is amended by this Instrument.
2. Subsection 1(1) is amended by adding the following definition:
“Schedule III Bank” means a foreign bank listed in Schedule III to the Bank Act (Canada).
3. Section 25 is amended by replacing subsection (1)(c) with the following:
(1)(c) If neither paragraph (a) nor (b) apply to the transaction and the transaction is between a Canadian financial institution or a Schedule III Bank that is not a derivatives dealer and a counterparty that is not a Canadian financial institution or a Schedule III bank or a derivatives dealer, the Canadian financial institution or the Schedule III bank,
4. Section 33 is amended by replacing subsection (1)(a) with the following:
(1)(a) daily, based on relevant closing market data from the previous business day, if the reporting counterparty is a derivatives dealer, a reporting clearing agency, a Canadian financial institution or a Schedule III Bank, or
5. Section 40 is amended by replacing subsection (b) with the following:
(b) the local counterparty is not a derivatives dealer, a reporting clearing agency, a Canadian financial institution nor a Schedule III Bank, and
6. This Instrument comes into force on September 13, 2023.