Investment dealers’ bond reporting obligations are slated to expand next month, as part of securities regulators’ overall efforts to boost bond market oversight and transparency
In a notice to dealers published on Monday, the Investment Industry Regulatory Organization of Canada (IIROC) is reminding firms that phase two of its bond market transparency initiative takes effect on Nov. 1.
On that date, the reporting requirements for firms will expand to include all dealers, and the major government securities dealers will have to start reporting transactions that are not denominated in Canadian dollars.
In November 2015, new rules took effect that required the major bond market dealers to begin reporting certain trades to IIROC.
Earlier this year, the self-regulatory organization began public reporting of corporate bond trading activity. Public reporting is scheduled to expand by July 2017.
Efforts to enhance bond market transparency are intended to improve regulatory oversight, bolster systemic risk monitoring, and improve investor access to market information.