Regulatory Alerts2020-06-18
Amendments to Policy Statement to Regulation 24-102 respecting Clearing Agency Requirements
Canadian securities regulators amended the Policy Statement to Regulation 24-102 to clarify and update requirements for clearing agencies regarding recognition, financial reporting, and operational resilience. The revisions introduce new guidance on cyber resilience, security incident reporting, and independent systems reviews while replacing Annex I with joint supplementary guidance from the Bank of Canada and Canadian Securities Administrators on PFMI principles. These changes also incorporate detailed standards for collateral eligibility, liquidity risk, and recovery planning to enhance the safety of financial market infrastructures.
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