AMENDMENTS TO COMPANION POLICY 23-101CP – TO NATIONAL INSTRUMENT 23-101 TRADING RULES PART 1 AMENDMENTS TO COMPANION POLICY 23-101CP TRADING RULES 1.1 Amendments (1) This amends Companion Policy 23-101CP. (2) Section 2.1 is amended by deleting the last sentence and substituting the following: “The exemption from subsection 3.1(1) does not apply in Alberta, British Columbia, Ontario, Québec and Saskatchewan and the relevant provisions of securities legislation apply. (3) Subsection 3.1(2) is amended by deleting the first sentence and substituting the following: “Subsection 3.1(2) of the Instrument provides that despite subsection 3.1(1) of the Instrument, the provisions of the Securities Act (Alberta), the Securities Act (British Columbia), the Securities Act (Ontario), the Securities Act (Québec) and The Securities Act, 1988 (Saskatchewan), respectively, relating to manipulation and fraud apply in Alberta, British Columbia, Ontario, Québec and Saskatchewan." (4) Part 4 is amended by: a. in subsection 4.1(7), in the second sentence, adding at the end of the sentence “or, if there is no information processor, by an information vendor that meets that standards set out by a regulation services provider.”; b. adding subsection 4.1(8): In order to meet best execution obligations, we expect that a dealer will take into account order information from all marketplaces where a particular security is traded (not just marketplaces where a dealer is a participant) and take steps to access orders, as appropriate. This may include making arrangements with another dealer who is a participant of a particular marketplace or routing an order to a particular marketplace, where appropriate. (5) Part 8 is amended by: a. in section 8.1 adding the following after the first sentence: Information to be recorded includes any markers required by a regulation services provider (such as a significant shareholder marker). b. in section 8.2 deleting “in the format and at the time required by a securities regulatory authority or the regulation services provider” and substituting “, within 10 business days, in electronic format as required by a securities regulatory authority or the regulation services provider”; and c. deleting section 8.3 and substituting the following:
- 2 -Subsection 11.2(6) of the Instrument requires dealers and inter-dealer bond brokers to transmit certain information to a securities regulatory authority or a regulation services provider in electronic form as prescribed by a securities regulatory authority or a regulation services provider. The Canadian securities regulatory authorities and the self-regulatory entities are working with the industry to develop standards for these requirements.
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.