Regulatory Alerts2020-06-18
Amendments to Policy Statement to Regulation 21-101 respecting Marketplace Operation
The Canadian securities regulatory authorities have amended Policy Statement to Regulation 21-101 to update financial reporting timelines, clarify accounting principles, and strengthen operational risk management requirements for marketplaces. The revisions expand definitions of material security incidents, mandate prompt notification of systems failures, and require annual independent systems reviews by qualified external auditors. Additionally, the amendments introduce business continuity management as a key component of operational risk frameworks and provide exemption pathways for self-assessments under specific conditions.
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