The Canadian Securities Administrators has published a notice addressing concerns raised by institutional investors over reduced access to international dealers that trade foreign currency denominated fixed income securities issued by Canadian issuers.
The notice also provides guidance to clarify the scope of the international dealer exemption in National Instrument 31-103 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.
“CSA staff recognize that these are areas of concern for market participants, and have issued this notice to highlight our ongoing consideration of these issues,” said Louis Morisset, chair of the CSA and president and chief executive officer of the Autorité des marchés financiers.
Read more about fixed income investments