ISDA Letter on Canadian Business Conduct Rule

On September 28, the securities regulatory authorities of Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Nunavut, Northwest Territories and Yukon adopted the final rule (National Instrument (NI) 93-101 Derivatives Business Conduct) to establish a regime for the regulation of business conduct of dealers and advisers operating in the over-the-counter derivatives markets. The rule will take effect on September 28, 2024 and the final rule can be found here.

ISDA published the below representation letter and supplement to assist market participants in complying with the rule. In addition, ISDA published the below foreign dealer notice to assist foreign derivatives dealers in notifying Canadian counterparties of the required information.

Documents (3) for ISDA Letter on Canadian Business Conduct Rule