Press Releases; Commentaries; Governance & Regulatory Affairs
DBRS Comments on Proposed CSA Supplementary Disclosure Requirements for Securitized Products
DBRS has commented on the Canadian Securities Administrators (the CSA) proposed National Instrument 41-103 Supplementary Disclosure Requirements for Securitized Products, related proposed rules and rule amendments (collectively, the Proposed Securitized Products Rules). As the only Canadian-based global credit rating agency, DBRS believes it plays a unique and critical role in the Canadian capital market. It is on this basis that DBRS has provided its comments.
DBRS is fully supportive of greater transparency and disclosure in the Canadian securitization market. Indeed, DBRS and other market participants have worked consistently on improving ratings transparency in the Canadian and global capital markets before and after the financial crisis of 2007–2008. However, DBRS sees the Proposed Securitized Products Rules as having a significant and potentially negative impact on the form and continued existence of the securitization market in Canada.
The DBRS response to the Proposed Securitized Products Rules is available under Regulatory Affairs at www.dbrs.com.