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Regulators Publish Update on Consideration of Concerns Regarding Reduced Access to Canadian Foreign-Currency Fixed Income Offerings

  • Securities - CSA Image

Sep 01, 2016

On September 1, 2016, the Canadian Securities Administrators (CSA) published CSA Staff Notice 31-346 – Guidance as to the Scope of the International Dealer Exemption in relation to Foreign-Currency Fixed Income Offerings by Canadian Issuers, which also provides guidance to clarify the scope of the international dealer exemption in National Instrument 31-103.

The notice addresses concerns raised by Canadian institutional investors over reduced access to international dealers that trade foreign-currency-denominated fixed income securities issued by Canadian issuers.  

Additionally, the notice provides guidance to clarify the scope of the international dealer exemption in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and confirms the willingness of CSA Staff to recommend exemptive relief, if required, to facilitate greater access to global fixed income markets by Canadian issuers and Canadian institutional investors.

Review the press release and the Staff Notice on the CSA's website.

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