Marketplace operations must be consistent with regulatory filings

September 14, 2015

On September 10, 2015, the Ontario Securities Commission (OSC) published Staff Notice 21-709 Marketplace Operation and Forms 21-101F1 and 21-101F2.  OSC Staff Notice 21-709 serves to remind marketplaces that they must abide by the scope of operations described in their filed Form 21-101F1 Information Statement Exchange or Quotation and Trade Reporting System and Form 21-101F2 Initial Operation Report Alternative Trading System.  If a marketplace wishes to pursue operations that are outside of what is disclosed on their filed Form 21-101F1 or Form 21-101F2, the marketplace must file an amendment and receive approval.

OSC Staff Notice 21-709 follows published amendments to National Instrument 21-101 Marketplace Operation that are expected to come into force on October 1, 2015 that will require the chief executive officer of a marketplace to verify on an annual basis that the information contained in Forms 21-101F1 and 21-101F2 are “true, correct and complete and that the marketplace is operating as described in the applicable form”.

For further information, please see OSC Staff Notice 21-709.

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