Regulatory Alerts2024-05-30
CSA Notice of Consultation: Draft Regulation to Amend Regulation 25-102 respecting Designated Benchmarks and Benchmark Administrators
The Canadian Securities Administrators have issued a 90-day consultation on draft amendments to Regulation 25-102 to revise assurance report requirements for designated benchmarks and their administrators. The proposed changes address technical issues encountered during the 2022 assurance process for the Canadian Dollar Offered Rate by replacing limited assurance reports with reasonable assurance reports on the effectiveness of controls. Additionally, the amendments introduce new provisions for non-commodity and non-interest rate benchmarks and specify strict deadlines for the submission of these reports to regulators.
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