Regulatory Alerts2019-03-14
Notice of Consultation: Draft Regulation 25-102 respecting Designated Benchmarks and Benchmark Administrators
The Canadian Securities Administrators are proposing a new regulatory regime for designated benchmarks and their administrators to address risks of manipulation and market disruption. The draft materials initially target Refinitiv Benchmark Services as the sole administrator for the Canadian Dollar Offered Rate and the Canadian Overnight Repo Rate Average. This framework aims to align Canadian standards with international principles and secure equivalence decisions from the European Union and the United Kingdom to facilitate cross-border financial activities.
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