Regulatory Alerts2021-04-22
CSA Notice of Consultation: Draft Regulation to Amend Regulation 14-101 Respecting Definitions
The Canadian Securities Administrators propose amendments to Regulation 14-101 to establish a uniform definition of "Canadian financial institution" that excludes Schedule III foreign banks and to update the definition of "Handbook" to reflect CPAC's separate accounting and assurance publications. Consequential amendments repeal redundant definitions of "Canadian financial institution" from Regulations 31-103, 45-106, and 94-102 while adjusting Regulation 62-103 to maintain early warning requirements for Schedule III banks. The CSA is soliciting public comments on these draft changes until July 21, 2021, alongside related housekeeping amendments to remove obsolete references to "financial intermediary" and "bank" in other regulations.
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