The Canadian Securities Administrators (CSA) have adopted final amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators and its companion policy to strengthen assurance report requirements for designated benchmarks. The changes clarify the scope and timing of the assurance report regime by specifying the level of assurance, the type of report an independent public accountant must provide, and when the report must be submitted. The amendments also introduce a new assurance report requirement for any designated benchmark that is not categorized as a commodity benchmark, a critical benchmark or an interest rate benchmark. Subject to obtaining all necessary ministerial approvals, the amendments are scheduled to come into force on May 5, 2026.
Canadian Securities Administrators 2026-02-19
Canadian Securities Administrators adopt amendments expanding and specifying assurance report requirements for designated benchmarks
The Canadian Securities Administrators have finalized amendments to Multilateral Instrument 25-102 to enhance assurance report requirements for designated benchmarks. The changes specify the level and timing of assurance reports and introduce new requirements for non-commodity, non-critical, and non-interest rate benchmarks. These amendments are set to take effect on May 5, 2026, pending ministerial approvals.