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The Canadian Securities Administrators (CSA) today published CSA Staff Notice 96-307 Frequently Asked Questions about Derivatives Trade Reporting (the FAQ) and CSA Staff Notice 96-308 Notice of Significant Error or Omission (the Notice) in connection with amendments to rules relating to trade repositories and derivatives data reporting that take effect on July 25, 2025.
The FAQ helps clarify how certain requirements under the amendments should be implemented, while preserving flexibility to the extent possible for reporting counterparties and trade repositories to operationalize these requirements in the context of their business frameworks. It was developed in response to market participants seeking more precise guidance with respect to the amendments.
The Notice provides a suggested form of notice that may be used by reporting counterparties to notify regulators of significant errors or omissions that they discover in their reporting. This form of notice will assist reporting counterparties in operationalizing the new notification requirement consistently across the CSA.
The amendments to the rules relating to trade repositories and derivatives data reporting and related companion policies can be found on the respective CSA member websites.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
