Regulatory Alerts2020-03-19
Regulation to amend Regulation 24-102 respecting Clearing Agency Requirements
The securities regulatory authority amends Regulation 24-102 to align clearing agency requirements with the Principles for Financial Market Infrastructures. The changes introduce stricter definitions for affiliates, mandate 90-day notice for ceasing business, and establish new cybersecurity obligations including auxiliary system controls and incident reporting. Additionally, the amendment requires annual independent systems reviews and updates the Global Legal Entity Identifier System maintenance rules.
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