Regulatory Alerts2020-03-19
Amendments to Policy Statement to Regulation 24-102 respecting Clearing Agency Requirements
The Canadian Securities Administrators and the Bank of Canada issued amendments to the Policy Statement on Regulation 24-102 to clarify and strengthen requirements for clearing agencies. The updates introduce new guidance on financial statement disclosures, cyber resilience, and independent systems reviews while replacing Annex I with joint supplementary guidance on PFMI principles. These changes enhance oversight by defining material security incidents, mandating annual capacity testing, and providing detailed standards for collateral eligibility and recovery planning.
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