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Enron Mail |
See below: The new rule was bounced back to the OSC by the Minister of=20 Finance. Keep me advised if you receive any further information as and whe= n=20 it may be reconsidered. Thanks. Mary On September 8, 2000, the Commission delivered Rule 91-504 Over-the-Counter= =20 Derivatives (the "Rule") and Companion Policy 91-504CP (the "Policy") to th= e=20 Minister of Finance for approval under section 143.3 of the Securities Act.= =20 On November 2, 2000, the Minister returned the Rule and the Policy to the= =20 Commission for further consideration by the Commission of the need for the= =20 Rule, especially in regard to the balance between the costs and other=20 restrictions on market participants and the objectives of the Rule, and=20 whether the Commission=01,s objectives in connection with the regulation of= =20 over-the-counter derivatives can be achieved by a rule that identifies the= =20 specific classes of transactions and related parties that will be regulated= =20 as opposed to having provisions of the Securities Act apply to all=20 over-the-counter derivatives transactions and then providing exemptions fro= m=20 that application. The Minister indicated that a more detailed review of the= =20 nature and extent of any disclosure issues in retail over-the-counter=20 derivatives transactions would be helpful in determining the appropriate=20 approach. Cordially, Mary Cook Enron North America Corp. 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com
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