Canadian Regulators Follow-step and Decide to Extend Securitization Rules Comment Period

Apparently taking a page from their US counterparts, the Canadian Securities Administrators (“CSA”) have decided to extend the comment period for the recently proposed new securitization rules.

The comment period for the draft rules, which were first published on April 1, 2011, was set to expire on July 1, 2011.  However, late last week the CSA decided to extend the comment period to August 31st.  No doubt that this is linked to the recent decision by US regulators to push their own comment period deadline for issuer risk retention into August.

Given the close relationship between the two markets, the decision by the CSA to see what happens with the US regulations, before committing to their own set of regulations, only makes sense.

Perhaps another hint that rationality may yet prevail in the final form of the new rules in both markets.

About markferraris
Managing Principal Orchard Street Partners LLC

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