Blakes Weekly Digest - August 30, 2024
In this issue...
Final Amendments to Canada’s OTC Derivatives Trade Reporting Rules Released
The Canadian Securities Administrators published final amendments and a corresponding technical manual to update Canada’s over-the-counter derivatives trade reporting regime. The amendments are in response to coordinated international efforts to streamline and harmonize derivatives data reporting standards across global jurisdictions. The new rules are applicable in each province and territory and will come into force on July 25, 2025.
Department of Finance Proposes Updates to Canada’s Financial Sector Framework
领英推荐
The Department of Finance has launched a public consultation on multiple proposed measures to update Canada’s financial sector legislation. These measures include updates to the regulatory and approval framework for banks and other federally regulated financial institutions, new consumer protection measures and efforts to promote the responsible use of AI. The consultation is open until September 11, 2024.
Canada Introduces New Tariffs on Chinese EVs and Steel Products
The Canadian government has announced a 100% surtax on imports of Chinese-made electric vehicles and a 25% surtax on steel and aluminum products imported from China. These new tariffs will come into force on October 1 and October 15, 2024, respectively. The Canadian government also announced a 30-day public consultation about the addition of further surtaxes on other Chinese-made goods, including batteries and battery parts, semiconductors, solar products and critical minerals.