Regulatory Alerts2024-05-30
Regulation to amend Regulation 25-102 respecting Designated Benchmarks and Benchmark Administrators
The regulator amends Regulation 25-102 to replace limited and reasonable assurance reports on compliance with reasonable assurance reports on controls for designated benchmark administrators and contributors. The updated rules mandate specific engagement frequencies and reporting timelines for non-critical, critical, interest rate, and commodity benchmarks. Additionally, the amendment introduces new provisions requiring assurance reports on controls for benchmark contributors upon request by oversight committees or at designated intervals.
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