25-102 - Designated Benchmarks and Benchmark Administrators (Multilateral Instrument)

25-102 - Designated Benchmarks and Benchmark Administrators (Multilateral Instrument)

• Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators

  Effective Date: Subject to Ministerial Approval – July 13, 2021.

  Requirements for Benchmarks, and persons or companies that administer them, contribute data that is used to determine them, and use them.

  25_102_mi_april_29_2021.pdf
• Amendments to Multilateral Instrument 25-102

  Effective Date: May 5, 2026, subject to ministerial approval.

  These amendments will fix technical problems that accounting firms face when preparing assurance reports for designated benchmark administrators and contributors. They will also clarify when an accounting firm must provide the assurance report required under Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators. In addition, the amendments widen the assurance reporting requirements so they apply to more designated benchmarks, not just commodity, critical or interest‑rate benchmarks.

  Further details can be found in the CSA Notice of Amendments.

  25_102_mi_amendments_may_5_2026.pdf
• Amendments to Multilateral Instrument 25-102

  Effective Date: September 27, 2023. In Saskatchewan: January 17, 2024.

  25_102_mi_amendments_january_17_2024.pdf
• Amendments to Multilateral Instrument 25-102

  This Instrument comes into force on September 27, 2023.

  25_102_mi_amendments_june_27_2023.pdf
• Amendments to Multilateral Instrument 25-102

  Effective Date: Subject to Ministerial Approval.

  25_102_mi_amendments_april_29_2021.pdf
• Proposed National Instrument 25-102 Designated Benchmarks and Benchmark Administrators

  Effective Date: Subject to Ministerial Approval. No longer applicable as National Instrument Designated Benchmarks and Benchmark Administrators has now been amended to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators.

  Requirements for benchmarks, and persons or companies that administer them, contribute data that is used to determine them, and use them.

  25_102_national_instrument.pdf
• Form 25-102F1 Designated Benchmark Administrator Annual Form

  Effective Date: Subject to Ministerial Approval - July 13, 2021.

  25_102_mi_f1_april_29_2021.pdf
• Form 25-102F2 Designated Benchmark Annual Form

  Effective Date: Subject to Ministerial Approval - July 13, 2021.

  25_102_mi_f2_april_29_2021.pdf
• Form 25-102F3 Submission to Jurisdiction and Appointment of Agent for Service of Process

  Effective Date: Subject to Ministerial Approval - July 13, 2021.

  25_102_mi_f3_april_29_2021.pdf
• Companion Policy 25-102 Designated Benchmarks and Benchmark Administrators

  Effective Date: Subject to the effective date of Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators.

  25_102_cp_april_29_2021.pdf
• Changes to Companion Policy 25-102CP

  Effective Date:  May 5, 2026, subject to ministerial approval.

  These amendments will fix technical problems that accounting firms face when preparing assurance reports for designated benchmark administrators and contributors. They will also clarify when an accounting firm must provide the assurance report required under Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators. In addition, the amendments widen the assurance reporting requirements so they apply to more designated benchmarks, not just commodity, critical or interest‑rate benchmarks.

  Further details can be found in the CSA Notice of Amendments.

  25_102_cp_changes_may_5_2026.pdf
• Amendments to Companion Policy 25-102CP

  This Instrument comes into force on September 27, 2023.

  25_102_cp_amendments_june_27_2023.pdf
• Changes to Companion Policy 25-102

  Effective Date: Subject to the effective date of the amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators.

  25_102_cp_changes_april_29_2021.pdf
• Companion Policy 25-102 Designated Benchmarks and Benchmark Administrators

  Effective Date: Subject to the effective date of National Instrument 25-102 Designated Benchmarks and Benchmark Administrators. No longer applicable as National Instrument Designated Benchmarks and Benchmark Administrators has now been amended to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators.

  25_102_cp_march_14_2019.pdf