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  • Ontario Securities
    Commission


    20 Queen St. W.
    Box 55, Suite 1900
    Toronto, ON M5H 3S8

    Commission des valeurs mobilières de l'Ontario

    FOR IMMEDIATE RELEASE

    May 4, 2012

    Joint Statement on Regulation of OTC Derivatives Markets

    TORONTO - The Ontario Securities Commission today released the following joint statement with other regulators:

    Leaders and senior representatives from key authorities with responsibility for the regulation of the over-the-counter (OTC) derivatives markets in their respective jurisdictions met on May 1, 2012 in Toronto. The meeting was hosted by the Ontario Securities Commission and its Chair, Mr. Howard I. Wetston, Q.C.

    The meeting included representatives from the Australian Securities and Investments Commission; Comissao de Valores Mobiliarios of Brazil; European Commission; European Securities and Markets Authority; Hong Kong Securities and Futures Commission; Japan Financial Services Agency; Ontario Securities Commission; l’Autorité des Marchés Financiers du Québec; Monetary Authority of Singapore; Swiss Financial Market Supervisory Authority; United States Commodity Futures Trading Commission; and United States Securities and Exchange Commission.

    The purpose of the meeting was to provide a forum for discussion among key OTC derivatives regulators responsible for introducing rules designed to give effect to implementing new international standards relating to OTC derivatives. This is the second time the authorities met to discuss technical issues relating to their implementation efforts.

    At the meeting, the authorities discussed a range of implementation issues, including: pre- and post-trade transparency, margin for uncleared derivatives, coordination of clearing mandates, access to data in trade repositories, and cross border clearing house crisis management. The participants welcomed the opportunity for continued discussion and sharing of information on implementation of OTC derivatives reform, with a view to further align regulatory requirements where possible.

    The authorities committed to continue to engage in bilateral discussions as necessary in their efforts to implement new requirements for OTC derivatives.

    -30-

    For Media Inquiries: media_inquiries@osc.gov.on.ca

       

    Carolyn Shaw-Rimmington
    Manager, Public Affairs
    416-593-2361

    Dylan Rae
    Media Relations Specialist
    416-595-8934

    For Investor Inquiries:

       

    OSC Contact Centre
    416-593-8314
    1-877-785-1555 (Toll Free)

    Last Updated: May 7, 2012

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