Regulatory Alerts2022-12-08
Joint CSA and IIROC Staff Notice 23-329: Short Selling in Canada
The Canadian Securities Administrators and IIROC issued this notice to provide an overview of the existing regulatory framework for short selling and to request public feedback on potential regulatory updates. The document details current requirements under securities legislation and IIROC rules, including short-marking, reporting of extended failed trades, and prohibitions on manipulative activities. It also addresses stakeholder concerns regarding the repeal of the tick test and pre-borrow requirements while summarizing responses to previous consultations on activist short selling.
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