The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) have issued joint Staff Notice, 23-329, Short Selling in Canada (the Joint Staff Notice), to gather input from stakeholders regarding the regulatory framework surrounding short selling in Canada.

The Joint Staff Notice offers an overview of the existing regulatory landscape for short selling, including rules governing failure to settle trades, and provides an update on current related initiatives, and request public feedback on areas for regulatory consideration.

The CSA and IIROC welcome feedback on the staff notice, which includes several consultation questions. Comments should be submitted in writing on or before March 8, 2023.

Joint CSA and IIROC Staff Notice, 23-329, Short Selling in Canada, is available for download from the website of IIROC and of participating CSA jurisdictions.

For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.

This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.