CASLA Announces New Legal Sub-Committee

CASLA announces new legal sub-committee to support related CASLA initiatives led by Lesley Charkow. The board consists of a diversified mix of legal and business experience from a variety of financial institutions. The Board of CASLA welcomes the members and thanks them for their participation on subcommittee. For a list of all members please click … Read more

IIROC Updates Short Selling Requirements: 

Changes include: 1) Repealing the tick test 2) Imposing a pre-borrow requirement under certain circumstances. 3) ‘Short Designation’ requirement: applicable sell orders for short selling purposes will require a ‘short’ designation. 4) ‘Short-Marking Exempt’ designation: intended for qualified neutral trade activity. Related market participants should ensure they are familiar with the IIROC requirements and ensure … Read more

Global Investor/ISF Canadian lending roundtable:

Canadian market participants met up at the CASLA Conference to discuss the effects of the eurozone crisis, trends in collateral, regulation and improvements in technology. Participants: Chair: Annabelle Palmer, Global Investor/ISF Charles Murray, Vice President, State Street Oberon Knapp, Senior Vice President, business development, eSecLending Nathalie Bockler, Managing Director and Head of Equity finance sales … Read more

The Tax Sub-Committee Requests Technical Interpretation from CRA

The tax sub-committee has requested a technical interpretation from the Rulings Directorate of the Canada Revenue Agency (“CRA”)  to confirm that Canadian witholding tax does not arise in respect of certain manufactured dividends/substitute payments (“Compensation Payments”) paid by a Canadian borrower to a non-resident lender under a securities lending arrangement.