Notice of Commission Approval – Amendments to the Investment Dealer and Partially Consolidated Rules and Form 1 Regarding the Floating Index Margin Rate Methodology – New Self-Regulatory Organization of Canada (New SRO)

The Ontario Securities Commission has approved New SRO’s proposed amendments to the Investment Dealer and Partially Consolidated (IDPC) Rules and IDPC Form 1 (collectively, the Amendments) that set floor margin rates within the floating index margin rate methodology for qualifying Canadian and U.S. index products. The Amendments also codify New SRO’s discretionary authority to modify the underlying floating index margin rate calculation formula.

The Amendments were originally published for public comment on April 28, 2022 as proposed amendments to the Investment Industry Regulatory Organization of Canada Rules. On January 1, 2023, the Board of Directors of the New SRO approved the adoption of the Amendments as proposed amendments to IDPC Rules 5100 and 5300 and IDPC Form 1.

No comment letters were received. The New SRO Notice of Approval/Implementation, including text of the Amendments, can be found at www.osc.ca. The Amendments will be effective on August 8, 2023.

In addition, the Alberta Securities Commission; the Autorité des marchés financiers; the British Columbia Securities Commission; the Financial and Consumer Affairs Authority of Saskatchewan; the Financial and Consumer Services Commission of New Brunswick; the Manitoba Securities Commission; the Northwest Territories Office of the Superintendent of Securities; the Nova Scotia Securities Commission; the Nunavut Securities Office; the Office of the Superintendent of Securities, Digital Government and Services, Newfoundland and Labrador; the Office of the Yukon Superintendent of Securities; and the Prince Edward Island Office of the Superintendent of Securities have either not objected to or have approved the Amendments.