Regulatory Alerts2023-06-29
Added · Updated
CSA Notice of Publication: Regulation to amend Regulation 25-102 respecting Designated Benchmarks and Benchmark Administrators (Phase 2)
The Canadian Securities Administrators adopted amendments to Regulation 25-102 and its associated Policy Statement to implement a regulatory regime for commodity benchmarks and their administrators. The amendments establish provisions for the designation and regulation of designated commodity benchmarks, including critical and regulated-data variants, and the persons administering them. Notable changes include redefining 'commodity benchmark' within the Regulation, splitting the definition of 'front office', and clarifying that governance requirements apply only to operations involving designated commodity benchmarks. Subject to necessary Ministerial approvals, the amendments come into force on September 27, 2023.
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