• Over-the-Counter (OTC) Derivatives Market in Canada: On the Road to Reform and Regulation
  • November 11, 2010 | Authors: Carol E. Derk; Stephen J. Redican
  • Law Firm: Borden Ladner Gervais LLP - Toronto Office
  • On October 26, 2010, the Canadian OTC Derivatives Working Group (the OTCDWG) published a discussion paper entitled Reform of Over-the-Counter Derivatives in Canada: Discussion Paper from the Canadian OTC Derivatives Working Group. This paper sets out the OTCDWG’s interim recommendations for implementing Canada’s G20 commitments related to reforming the infrastructure of much of the Canadian OTC derivatives market. The OTCDWG is an interagency group chaired by the Bank of Canada and composed of members from the Office of the Superintendent of Financial Institutions (OSFI), the federal Department of Finance, the Ontario Securities Commission, the Autorité des marchés financiers (the Québec securities commission), the Alberta Securities Commission and the Bank of Canada. The complete paper is available at http://www.bankofcanada.ca/en/financial/reform.pdf.