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ARTICLE · 11 JULY 2017

CSA Propose Amendments For Designated Rating Organizations

Stikeman Elliott LLP
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Proposed rule amendments and policy changes related to designated rating organizations (DROs) and the credit ratings of DROs were published for comment by the Canadian Securities Administrators...

CanadaFinance and Banking
The Securities Group
The Securities Group
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Proposed rule amendments and policy changes related to designated rating organizations (DROs) and the credit ratings of DROs were published for comment by the Canadian Securities Administrators on July 6, 2017. The amendments to National Instrument 25-101 Designated Rating Organizations are being proposed in an effort to ensure that the European Union continues to recognize the Canadian DRO regime as "equivalent" to new EU requirements for credit rating organizations coming into force on June 1, 2018. In addition, the proposed amendments include revisions to NI 25-101 that reflect new provisions in the March 2015 International Organization of Securities Commissions (IOSCO) Code of Conduct Fundamentals for Credit Rating Agencies.

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