Notice of Amendment Approval - Provisions Respecting Impeding or Obstructing a Market Regulator

MARKET REGULATION SERVICES INC.

AMENDMENT TO THE UNIVERSAL MARKET INTEGRITY RULES --

AMENDMENTS TO RULES 1.1, 10.1, 10.2 AND 10.9 AND

SECTION 1.1 OF POLICY 10.8 -- PROVISIONS RESPECTING

IMPEDING OR OBSTRUCTING A MARKET REGULATOR

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission has approved amendments to Rules 1.1, 10.1, 10.2, 10.9, and section 1.1 of Policy 10.8 of the Universal Market Integrity Rules (UMIR), regarding provisions respecting impeding or obstructing a market regulator. In addition, the Alberta Securities Commission, British Columbia Securities Commission, Manitoba Securities Commission and the Autorité des marchés financiers have also approved the amendments. The amendments provide that it is an offence to impede or obstruct a market regulator in an investigation, proceeding or the exercise of a power; require that a person who is subject to the jurisdiction of UMIR responds within the time period specified by the market regulator in its written request; and adopt a definition of "document" and clarify that records which must be provided by a regulated person during an investigation are not limited to 'records' as contemplated by the audit trail and retention requirements.

A copy and description of the amendments was published for comment on August 13, 2004 at (2004) 27 OSCB 7193. Eight comment letters were received in response to the request for comment. The final version of the amendments and a summary of the comments with RS's responses to the comments received are published in Chapter 13 of this Bulletin.