RS Market Integrity Notice - Notice of Withdrawal - Provisions to Accommodate the Introduction of Multiple Marketplaces
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October 31, 2006 |
No. 2006-022 |
RS MARKET INTEGRITY NOTICE
NOTICE OF WITHDRAWAL
PROVISIONS TO ACCOMMODATE THE INTRODUCTION OF MULTIPLE MARKETPLACES
Summary
This Market Integrity Notice provides notice that Market Regulation Services Inc. has withdrawn from consideration for approval by the applicable securities regulatory authorities proposed amendments to the Universal Market Integrity Rules to accommodate the introduction of multiple and competitive marketplaces as originally published in Market Integrity Notice 2005-019 -- Request for Comments -- Provisions to Accommodate the Introduction of Multiple Marketplaces (June 10, 2005). These proposed amendments were withdrawn on the publication of a revised series of proposed amendments in Market Integrity Notice 2006-019 -- Request for Comments -- Provisions Respecting Competitive Marketplaces (October 6, 2006).
Questions / Further Information
For further information or questions concerning this notice contact:
James E. Twiss
Chief Policy Counsel
Telephone: 416.646.7277
Fax: 416.646.7265
e-mail: [email protected]
PROVISIONS TO ACCOMMODATE THE INTRODUCTION OF MULTIPLE MARKETPLACES
SUMMARY
This Market Integrity Notice provides notice that Market Regulation Services Inc. ("RS") has withdrawn from consideration for approval by the applicable securities regulatory authorities proposed amendments to the Universal Market Integrity Rules ("UMIR") to accommodate the introduction of multiple and competitive marketplaces as originally published in Market Integrity Notice 2005-019 -- Request for Comments -- Provisions to Accommodate the Introduction of Multiple Marketplaces (June 10, 2005). These proposed amendments were withdrawn on the publication of a revised series of proposed amendments in Market Integrity Notice 2006-019 -- Request for Comments -- Provisions Repecting Competitive Marketplaces (October 6, 2006).
Provisions Respecting Competitive Marketplaces
On September 29, 2006, the Board of Directors of RS approved for publication proposed amendments to UMIR to accommodate the introduction of multiple marketplaces (the "Competitive Marketplaces Proposals"). The Competitive Marketplaces Proposals were published in Market Integrity Notice 2006-019 -- Request for Comments -- Provisions Respecting Competitive Marketplaces (October 6, 2006). The Competitive Marketplaces Proposals incorporate revisions to various amendment proposals originally published in:
• Market Integrity Notice 2005-012 -- Request for Comments -- Provisions Respecting "Off-Marketplace" Trades (April 29, 2005);
• Market Integrity Notice 2005-018 -- Request for Comments -- Definition of "Applicable Market Display" (June 10, 2005); and
• Market Integrity Notice 2005-019 -- Request for Comments -- Provisions to Accommodate the Introduction of Multiple Marketplaces (June 10, 2005).
The Competitive Marketplaces Proposals would also incorporate directly into UMIR certain aspects of the guidance provided by RS in Market Integrity Notice 2006-017 -- Guidance -- Securities Trading on Multiple Marketplaces (September 1, 2006).
The period to comment on the Competitive Marketplaces Proposals has been extended until November 13, 2006. Comments on the Competitive Marketplaces Proposals should be in writing and delivered by November 13, 2006 to:
James E. Twiss,
Chief Policy Counsel,
Market Policy and General Counsel's Office,
Market Regulation Services Inc.,
Suite 900,
145 King Street West,
Toronto, Ontario. M5H 1J8
Fax: 416.646.7265
e-mail: [email protected]
A copy should also be provided to Recognizing Regulators by forwarding a copy to:
Cindy Petlock
Manager, Market Regulation
Capital Markets Branch
Ontario Securities Commission
Suite 1903, Box 55,
20 Queen Street West
Toronto, Ontario. M5H 3S8
Fax: (416) 595-8940
e-mail: [email protected]
Commentators should be aware that a copy of their comment letter will be publicly available on the RS website (www.rs.ca under the heading "Market Policy"). A summary of the comments contained in each submission will also included in a future Market Integrity Notice dealing with the revision or the approval of the Competitive Marketplaces Proposals.
Questions / Further Information
For further information or questions concerning this notice contact:
James E. Twiss,
Chief Policy Counsel,
Market Policy and General Counsel's Office,
Market Regulation Services Inc.,
Suite 900,
145 King Street West,
Toronto, Ontario. M5H 1J8
Telephone: 416.646.7277
Fax: 416.646.7265
e-mail: [email protected]
ROSEMARY CHAN,
VICE PRESIDENT, MARKET POLICY AND GENERAL COUNSEL