The Canadian Securities Administrators (CSA) has approved new rules designed to more adequately cover certain derivatives transactions.The regulatory body said the rules will come into effect on February 28 2004, pending ministerial ratification. Of particular concern were regulations on equity monetisation transactions, where investors 'cash out' an equity position without formally selling the securities making up the position. The new rules will ensure that insiders involved in such activities publicly disclose details, said the CSA. In some instances this would include transactions entered before the rules come into effect that continue to affect an insider’s publicly reported holdings.
Sign up for Risk.net email alerts
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.