Notice of General Order - Ontario Instrument 25-502 Temporary exemption from certain reporting requirements for Regulated Entities carrying on business in Ontario

As a result of the Coronavirus pandemic (“COVID-19”), the Ontario Securities Commission (the “Commission”) is providing temporary relief from certain regulatory filing requirements under Ontario securities law and Ontario commodity futures law that apply to marketplaces, as defined in subsection 1(1) of the Securities Act (Ontario) (“OSA”), clearing agencies, as defined in subsection 1(1) of the OSA, designated trade repositories, as defined in subsection 1(1) of the OSA, designated information processors, as defined in subsection 1(1) of the OSA, and commodity futures exchanges, as defined in subsection 1(1) of the Commodity Futures Act (Ontario) (“CFA”) (the “Regulated Entities”).

Description of Order

The order provides that any Regulated Entity carrying on business in Ontario that would be required to provide the Commission with certain documents or other information specified in the order between the date of the order and June 1, 2020 is exempt from the requirement, provided that the Regulated Entity:

1. Provides the Commission with the documents or other information no later than 45 days after the original due date for the documents or information; and
2. Discloses to the Commission that it is relying on the order and states the reasons why it could not submit the document or information by the original due date.

Reasons for the Order

As a result of the outbreak of COVID-19 and the resulting disruptions to travel, access to office facilities and availability of personnel and resources, Regulated Entities carrying on business in Ontario may face challenges in providing the Commission with documents and other information under various reporting requirements of Ontario securities law. Under the circumstances, the Commission has determined that it would not be prejudicial to the public interest to grant this temporary relief to assist affected Regulated Entities in meeting their obligations under Ontario securities law and Ontario commodity futures law.

Day on which the Order Ceases to Have Effect

The order comes into effect on March 23, 2020, and remains in effect for a period of 120 days.