News & Analysis as of

CDN financial institutions can benefit from a compliance program

According to a new report by Deloitte, Canadian financial institutions can gain a competitive advantage by making regulatory compliance a higher priority....more

OSFI Issues Guidance on When a Limited Partnership Meets Definition of “Pooled Fund” or “Mutual Fund”

The Office of the Superintendent of Financial Institutions has posted guidance (the Guideline) on the question of whether a fund established as a limited partnership by a corporation meets the definition of “pooled fund” or...more

OSFI Proposes Specific Notification Requirements for Changes in Directors and Officers

On January 20, 2014, the Office of the Superintendent of Financial Institutions (OSFI) issued its Draft Advisory Changes to the Membership of the Board or Senior Management of a federally-regulated financial institution...more

OSFI Releases Cyber Security Self-Assessment Guidance

On October 28, OSFI released its Cyber Security Self-Assessment Guidance (the “Guidance”) to aid Federally Regulated Financial Institutions (“FRFI”) in assessing its level of preparedness against cyber risks. The Guidance was...more

The Canadian Federal Budget and Financial Institutions

The recently published federal budget (titled “Canada’s Economic Action Plan 2013”) included high level guidance regarding the Government’s priorities for the regulation of financial institutions, services and markets. The...more

Canada’s Largest Six Banks Designated as Systemically Important by OSFI

In conjunction with A framework for dealing with domestic systemically important banks issued by the Basel Committee on Banking Supervision (BCBS), the Office of the Superintendent of Financial Institutions Canada (OSFI) has...more

OSFI Publishes Advisory Regarding Ownership Interests in Commodities Taken by Federally Regulated Financial Institutions

In response to inquiries from federally regulated financial institutions (“FRFIs”), the Office of the Superintendent of Financial Institutions (“OSFI”) has published Advisory 2013-01, Business and Powers – Ownership Interest...more

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