Regulatory Alerts2023-09-28
Amendments to Policy Statement to Regulation 25-102 respecting Designated Benchmarks and Benchmark Administrators
The Canadian Securities Administrators amend Policy Statement to Regulation 25-102 to formally incorporate designated commodity benchmarks and establish specific regulatory requirements for their administration. The amendments define key terms such as designated commodity benchmark and front office employee, while clarifying the application of rules for benchmarks dually designated as commodity and critical or regulated-data benchmarks. New Part 8.1 outlines detailed obligations for benchmark administrators regarding methodology, transparency, conflict of interest management, and assurance reporting for commodity-based benchmarks.
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