Regulatory Alerts2023-10-19
CSA/CIRO Staff Notice 23-331: Request for Feedback on December 2022 SEC Market Structure Proposals and Potential Impact on Canadian Capital Markets
The Canadian Securities Administrators and CIRO are soliciting stakeholder feedback on four December 2022 SEC proposals regarding market structure, including variable tick sizes, access fees, best execution, and order competition. The notice analyzes the potential impact of these U.S. regulatory changes on Canadian capital markets, highlighting specific areas such as harmonization of pricing increments and fee caps while noting preliminary views that some proposals may not require Canadian regulatory changes. Stakeholders are asked to provide comments on compliance costs, operational resiliency, and the necessity of adopting similar measures to address potential cross-border market effects.
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