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The Commodity Futures Act

C.C.S.M. c. C152

The Commodity Futures Act

PART 1
INTERPRETATION AND GENERAL ADMINISTRATION
1(1) Definitions
(2) Related exchanges
(3) Affiliated company
(4) Controlled company
(5) Subsidiaries
(6) Beneficial ownership by person
(7) Beneficial ownership by company
2(1) Commission to administer Act
(2) Hearings
(3) Powers and duties of commission members
(4) Agreements for assistance
3 Powers and duties of director
4(1) Secretary
(2) Certification by secretary
5(1) Appointment of experts
(2) Powers relating to submission to expert
(3) Payment of experts
PART 2
INVESTIGATIONS
6(1) Investigation order
(2) Contents of order
(3) Scope of investigation
(4) Right to examine
7(1) Financial examination order
(2) Contents of order
(3) Right to examine
8(1) Power of investigator or examiner
(2) Rights of witness
(3) Inspection
(4) Authorization to search
(5) Grounds
(6) Power to enter, search and seize
(7) Expiration
9(1) Copying
(2) Return
10(1) Report of investigation or examination
(2) Report privileged
11 Non–disclosure
12(1) Interim preservation of property
(2) Application to branches of financial institution
(3) Exclusions
(4) Clarification, variation or revocation
(5) Registration against land
13(1) Application for appointment of receiver
(2) Appointment
(3) Application without notice
(4) Powers of receiver
(5) Costs of application
PART 3
SELF-REGULATORY ORGANIZATIONS, COMMODITY FUTURES EXCHANGES AND CLEARING HOUSES
14(1) Recognition of self-regulatory organization
(2) Hearing
(3) Recognized organization to regulate members
(4) Commission's powers
15(1) Requirement to register as exchange
(2) Registration
(3) Hearing
16(1) Designation of recognized clearing house
(2) Hearing
17(1) Requirement to file documents
(2) Commission may review filed document
(3) Additional powers
18 Conflict with commodities law
19(1) Suspension or cancellation of registration or recognition
(2) Temporary order without hearing
20(1) Assignment of powers and duties by commission
(2) Assignment of powers and duties by director
(3) Variation or revocation of assignment
21 Review of decision of exchange or clearing house
22(1) Records of exchanges and clearing houses
(2) Particulars of transactions
23(1) Auditor of exchange, clearing house or self-regulatory organization
(2) Auditor of member
(3) Examination and report
PART 4
REGISTRATION FOR TRADING, ACTING AS ADVISER
24(1) Registration for trading
(2) Registration as adviser
(3) Termination of salesperson or floor trader
25(1) Designation of employee as non-trading
(2) Cancellation of designation
(3) Exception
26(1) Registration as dealer or adviser
(2) Director may impose conditions
(3) Director's refusal to register
27(1) Powers of the commission
(2) Temporary order
(3) Surrender of registration
28 Application after refusal or suspension
29 Application form and fee
30 Director may require additional information
31 Residency requirement
32(1) Registered dealer to give notice of changes
(2) Registered adviser to give notice of changes
(3) Exemption of dealer or adviser re voting securities
(4) Notice of change in employment
(5) Change of address
33 Exemption of certain advisers
34 Exemption of certain trades
35(1) Auditor of registrant
(2) Examination and report
(3) Filing of auditor's report
(4) Delivery of financial statements
(5) Certification of financial statements
(6) Additional information
PART 5
RECOGNITION OF EXTRA-PROVINCIAL COMMODITY FUTURES EXCHANGES
36(1) Recognition of extra-provincial exchange by commission
(2) Hearing
(3) Exemption
37(1) Revocation of recognition or exemption
(2) Temporary order
PART 6
APPROVAL OF CONTRACTS
38(1) Approval of form of contract by director
(2) Hearing
(3) Amendment to approved form of contract
(4) Exemption
39(1) Revocation of approval
(2) Temporary order
PART 7
TRADING GENERALLY
40 Prohibition on certain trades
41 Disclosure statement to be furnished to prospective customer and guarantor
42(1) Information to be provided to customer
(2) Terms and conditions
43 Margin requirements
44(1) Written confirmation of trade
(2) Waiver of written confirmations
(3) Disclosure by agent
45(1) Statement of purchase and sale
(2) Monthly statement
(3) Waiver of statements
46(1) Segregation, accounting for money, securities, property
(2) Application to certain property, securities and loans
(3) Commingling of segregated funds
(4) Registered dealer not to use funds
(5) Registered dealer may advance funds
(6) Prohibition on residual financial interest, advances
(7) Application of subsections (1) and (4).
47 Reports
48(1) Restrictions on trading in contracts
(2) Hearing
(3) Meaning of "residence"
(4) Calls by person or company
49(1) Certain representations prohibited
(2) Prohibited representations re future value and risks
50 Use of name of another registrant
51(1) Restriction on advertising
(2) Restriction on hypothetical results
52 Registration not to be advertised
53 Holding out by unregistered person
54 Representing approval by commission
55(1) Director may order copy of advertising
(2) Hearing
(3) Director may rescind or vary order
PART 8
ENFORCEMENT
56 Prohibitions respecting contracts
57 Prohibition of cross trades
58(1) Prohibition on front running
(2) Meaning of "order"
59(1) Prohibition on trading in non-public information
(2) Prohibition on registrant and affiliates
(3) Meaning of "material non-public order information"
(4) Exemption
60(1) Offence and penalty
(2) Application
(3) Defence
(4) Directors and officers
(5) Amount of fine where profit made
(6) Information may contain more than one offence
61(1) Executing warrant from other jurisdiction
(2) Prisoner in transit
62 Order for compliance
63 Limitation period
PART 9
GENERAL PROVISIONS
64 Refunds where applications abandoned
65 Admissibility in evidence of certified statements
66(1) Commission's power to exempt
(2) Regulations Act not to apply
67(1) Address for service
(2) Attornment of non-resident registrant
68(1) Filing of material
(2) Access to filed materials
(3) Confidential material
69(1) Immunity for acts or omissions in good faith
(2) Immunity re delegated powers and duties
(3) Immunity of person or company in compliance
70 Regulations
71(1) Commission may make rules
(2) Regulation prevails
(3) L.G. in C. may amend or repeal rule
(4) Force and effect of rule
(5) Regulations Act not applicable
72(1) Publication of rules
(2) Effect of publication
(3) Effect of non-publication
73(1) Evidence Act
(2) Application of regulations and rules
(3) Incorporation by reference
74 Exemption from a regulation or rule
75(1) Policy statements
(2) Policy statements not rules or regulations
76 Commission may vary or revoke its decision
77
78 Repeal
79 C.C.S.M. reference
80 Coming into force