Notice of Ministerial Approval of Amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators and Ontario Securities Commission Rule 25-501 (Commodity Futures Act) Designated Benchmarks and Benchmark Administrators related to Commodity Benchmarks

Notice of Ministerial Approval of Amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators and Ontario Securities Commission Rule 25-501 (Commodity Futures Act) Designated Benchmarks and Benchmark Administrators related to Commodity Benchmarks

Amendments to Multilateral Instrument Amendments to OSC Rule
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Ministerial Approval

The Ontario Minister of Finance recently approved amendments to the following rules:

  • Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators; and
  • Ontario Securities Commission Rule 25-501 (Commodity Futures Act) Designated Benchmarks and Benchmark Administrators (collectively, the Amendments).

The Amendments will implement a comprehensive regime for the designation and regulation of commodity benchmarks and persons or companies that administer such benchmarks.

The Amendments, as well as changes to Companion Policy 25-102 Designated Benchmarks and Benchmark Administrators and Companion Policy 25-501 (Commodity Futures Act) Designated Benchmarks and Benchmark Administrators (collectively, the CP Changes), were published in the Bulletin on June 29, 2023. The same material is being published today in Chapter 5 of this Bulletin.

Effective Date

The Amendments and the CP Changes will become effective on September 27, 2023.

Questions

Please refer your questions to either of the following:

Michael Bennett
Senior Legal Counsel, Corporate Finance
[email protected]
Melissa Taylor 
Senior Legal Counsel, Corporate Finance
[email protected]