Top agencies get status as designated rating organizations

DBRS Ltd., Fitch Inc., Moody’s Canada Inc. and Standard & Poor’s Rating Services (Canada) have all been granted designated rating organization status under Canadian securities laws, regulators said Monday.

TORONTO — DBRS Ltd., Fitch Inc., Moody’s Canada Inc. and Standard & Poor’s Rating Services (Canada) have all been granted designated rating organization status under Canadian securities laws, regulators said Monday.

The designation is required under new rules that came into force April 20 establishing a regulatory framework for the oversight of credit rating organizations, according to the Canadian Securities Administrators, the umbrella group for provincial and territorial securities regulators.

Under the new rules, such credit rating organizations have to adhere to a code of conduct that includes rules concerning conflicts of interest, governance, conduct and required filings.

The rules were designed to bring Canadian standards in line with international requirements, specifically those in the European Union, so European market participants can rely on Canadian credit ratings, according to the CSA.

The designated ratings organizations will have a six-month transition period to fully implement all requirements set out the new NI 25-101 regulations.

Once they have done so, the CSA expect to issue and announce amended and restated designation orders.

The enabling legislation required to make NI 25-101 a rule in Saskatchewan will be proclaimed in Saskatchewan later this year.

Just Posted

Red Deer area businesses recognized at Business of the Year Awards night

“It’s an honour just to be nominated.” The popular words echoed throughout… Continue reading

Child sex offender should get 12 years: Crown prosecutor

Stuart Peter Hunt has pleaded guilty to 10 child sexual exploitation and pornography charges

Legalizing cannabis cost estimate for Red Deer just under $400k

Although the province of Alberta has announced $11.2 million for cannabis legalization,… Continue reading

WATCH: Every square tells a story: Edmonton expert is exploring Red Deer’s quilting history

Community members can bring in family heirloom quilts for documentation

Red Deer-area dads going through divorce are invited to Man Up

Support group formed to focus on positive activities, networking

WATCH: Two weeks away from Canadian Finals Rodeo in Red Deer

In just two weeks, Ponoka’s Shayna Weir will compete with the best… Continue reading

PHOTO: Say goodbye to City Hall Park flowers

A sure sign that winter is on its way is when City… Continue reading

PHOTO: Chew On This! campaign draws attention to national poverty

Lunch bags were being handed out in front of The Hub downtown… Continue reading

Wickenheiser, Pegula reflect NHL’s trend toward diversity

BUFFALO, N.Y. — With a laugh, Kim Pegula’s competitive nature kicked in… Continue reading

Harry and Meghan bring rain to drought-stricken Outback town

DUBBO, Australia — The Duke and Duchess of Sussex were jokingly thanked… Continue reading

TV Review: A Roseanne Barr-less ‘The Conners’ is a triumph

NEW YORK — Can there be a “Roseanne” without Roseanne? The answer… Continue reading

Canadian manufacturing sales fell 0.4 per cent in August: Statistics Canada

OTTAWA — Statistics Canada says manufacturing sales fell 0.4 per cent to… Continue reading

Brian Mulroney joins board of directors of New York-based pot company

NEW YORK — Former prime minister Brian Mulroney is joining the board… Continue reading

Canadians waking up to legalized cannabis: ‘My new dealer is the prime minister’

ST. JOHN’S, N.L. — Canadians across the country woke up to legalized… Continue reading

Most Read