The Autorité des marchés financiers (AMF) looks forward to the coming into force of the new Derivatives Act on February 1, 2009. Recognizing the explosive growth in derivatives markets and products, the new Act will provide a modern, flexible framework for derivatives products that is adapted to the industry.

• Order in Council 19-2009 - Derivatives Act (2008, c. 24) - Coming into force
• Notice of publication : Coming into Force of Derivatives Act; Derivatives Regulation; Coming into Force of Regulation respecting Tariffs and Fees Payable; Decision and Policy Statements
• Derivatives Regulation
• Policy Statement respecting Accredited Counterparties - Derivatives Act
• Policy Statement respecting Hybrid Products - Derivatives Act
• Policy Statement respecting Self-Certification - Derivatives Act
• Avis concernant la décision générale relative à la dispense d'application des articles 54, 56 et du premier alinéa de l'article 82 de la Loi sur les instruments dérivés (décision n° 2009-PDG-0007) (Available in french only)
• Avis - Maintien de la décision générale relative a la dispense d’application des articles 54, 56 et du premier alinéa de l’article 82 de la Loi sur les instruments dérivés (Available in french only)

Derivatives Act

Québec, June 19, 2008 − The Minister of Finance, Minister for Government Services, Minister responsible for Government Administration and Chair of the Conseil du trésor, Monique Jérôme-Forget, is proud to announce that the National Assembly has passed the Derivatives Act.
 

• Press Release: National Assembly has passed the Derivatives Act - Ministère des Finances - June 19, 2008
• Derivatives Act - Bill 77 - Assented to 20 June 2008
  The purpose of this Act is to establish a legislative framework specifically for derivatives, certain of which are currently governed by the Securities Act.

Documents for consultation:

• Request for comments : Regulation respecting Tariffs and Fees Payable 
• Regulation respecting Tariffs and Fees Payable

End of consultation: August 4, 2008

• Request for comment : Derivatives regulation
• Derivatives regulation

End of consultation: November 3, 2008

As part of the consultation process, the AMF received comment letters from the following entities:

• Borden Ladner Gervais LLP
• Association des banquiers canadiens (ABC)
• International Swaps and Derivatives Association, Inc. (ISDA)
• RBC Dominion Securities Inc.
• L'Organisme canadien de réglementation du commerce des valeurs mobilières (OCRCVM)
  

Proposed Framework for Regulation of Derivatives Markets in Québec – August 2007

The Autorité des marchés financiers (AMF) is publishing for comment a proposed framework for the regulation of derivatives markets in Québec. The proposal documents contain a proposed legislation and regulation as well as proposed policy statements in respect of derivatives.

The proposals published by the AMF are not proposals of the Government and may be implemented only after they have been submitted to the legislative process and the ensuing legislative provisions have been debated in and duly adopted by the National Assembly.

• Press Release
• Proposal Document

As part of the consultation process, the AMF received comment letters from the following entities:

• Association des banquiers canadiens (ABC)
• BMO Nesbitt Burns Inc. (BMO)
• Bourse de Montréal Inc. (MX) et la Corporation canadienne de compensation de produits dérivés (CDCC)
• Canadian Imperial Bank of Commerce (CIBC)
• International Swaps and Derivatives Association, Inc. (ISDA)
• Mouvement des caisses Desjardins (MCD)
• Options Clearing Corporation (OCC)
• TSX Group Inc. (TSX)
   

Discussion Paper – May 2006

In May 2006, the AMF published a discussion paper on the Regulation of Derivatives Markets in Québec. 

As part of the consultation process, the AMF received comment letters from the following entities:

• Canadian Advocacy Committee of the CFA Societies of Canada and Montreal CFA Society
• Canadian Bankers Association (CBA)
• CSI Inc.
• Futures Industry Association (FIA)
• Institute of Canadian Bankers
• International Swaps and Derivatives Association, Inc. (ISDA) 
• Investment Dealers Association of Canada (IDA)
• Investment Funds Institute of Canada (IFIC)
• Kenneth G. Ottenbreit and Terence W. Doherty  
• Mouvement des caisses Desjardins
• Options Clearing Corporation (OCC)
• Société Générale (Canada)
• TSX Group Inc.
  

  Response to comments

ADDITIONAL INFORMATION
Further information concerning this matter is available from the following:

 
Derek West
Director, Centre of Excellence for Derivatives
Autorité des marchés financiers
Telephone: 514 395-0337, ext. 4491
Toll-free: 1 877 525-0337, ext. 4491
E-mail: derek.west@lautorite.qc.ca