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Volume 63, No. 17

221/2020

The British Columbia Gazette,

Part II

September 8, 2020

B.C. Reg. 221/2020 , deposited August 26, 2020, under the SECURITIES ACT [section 184]. Rule of the British Columbia Securities Commission, dated August 26, 2020.

The British Columbia Securities Commission orders that, effective August 31, 2020,

National Instrument 21-101 Marketplace Operation , B.C. Reg. 251/2001, is amended as set out in the attached

Schedule A.

— B. LEONG, British Columbia Securities Commission .

Schedule A

1. National Instrument 21-101 Marketplace Operation , B.C. Reg. 251/2001, is amended as set out in this Schedule.

Section 1.1 is amended by repealing the definition of "information processor" and substituting the following:

"information processor" ,

(

a) in every jurisdiction except for British Columbia, means any person or company

that receives and provides information under this Instrument and has filed Form 21-101F5,

and

(

b) in British Columbia, means a person or company that is designated as an information

processor for the purposes of this Instrument; .

3. The heading to

Part 8 is repealed and the following substituted:

PART 8 — INFORMATION TRANSPARENCY REQUIREMENTS FOR PERSONS AND COMPANIES DEALING

IN UNLISTED DEBT SECURITIES

4. Subsection 8.1 (1) is amended by replacing " marketplace as required by " with " marketplace, as required by ".

5. Subsection 8.1 (3) is repealed.

6. Subsection 8.1 (4) is amended by replacing " broker as required by " with " broker, as required by ".

7. Subsection 8.1 (5) is repealed and the following substituted:

(5) A person or company must provide to an information processor accurate and

timely information regarding trades in government debt securities executed by or through

the person or company, as required by the information processor.

8. Subsection 8.2 (1) is repealed and the following substituted:

(1) A marketplace that displays orders of corporate debt securities to a person

or company must provide to an information processor accurate and timely information

regarding orders for corporate debt securities displayed by the marketplace, as required

by the information processor.

9. Subsection 8.2 (3) is repealed and the following substituted:

(3) A person or company must provide to an information processor accurate and

timely information regarding trades in corporate debt securities executed by or through

the person or company, as required by the information processor.

10. Subsections 8.2 (4) and (5) are repealed.

Section 8.3 is amended by replacing " an accurate consolidated feed in real-time " with " accurate consolidated information on a timely basis "

Section 8.4 is amended by replacing " marketplace, inter-dealer bond broker or dealer " with " person or company ".

13. Subsection 14.4 (1) is repealed and the following substituted:

(1) An information processor for exchange-traded securities must enter into an

agreement with each marketplace that is required to provide information to the information

processor that states that the marketplace will

(

a) provide information to the information processor in accordance with

Part 7

of this Instrument, and

(

b) comply with any other reasonable requirements set by the information processor.

14. Subsection 14.4 (4) is amended by replacing " marketplace, inter-dealer bond broker or dealer " with " person or company ".

15. Subsections 14.4 (8) and (9) are repealed.

16. Subparagraph 14.5 (d) (ii) is amended by replacing " calendar " with " information processor's financial ".

Section 14.7 is amended by replacing " marketplace, inter-dealer bond broker or dealer " with " person or company ".

18. Paragraph 14.8 (

b) is repealed and the following substituted:

(

b) in the case of an information processor for government debt securities or

corporate debt securities,

(

i) the marketplaces that report orders for corporate debt securities or government

debt securities to the information processor, as applicable,

(ii) the inter-dealer bond brokers that report orders for government debt securities

to the information processor,

(iii) the persons and companies that report trades in corporate debt securities

or government debt securities to the information processor, as applicable,

(iv) when trades in each corporate debt security or government debt security,

as applicable, must be provided to the information processor by a person or company,

(

v) when the information provided to the information processor will be publicly

disseminated by the information processor, and

(vi) the cap on the displayed volume of trades for each corporate debt security

or government debt security, as applicable, .

Section 14.8 is amended by striking out " and " at the end of paragraph (c), by adding " and " at the end of paragraph (

d) and by adding the following paragraph:

(

e) a list of the types of data elements relating to the order and trade information

required to be provided under

Part 7 or

Part 8 of this Instrument.

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