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Discussions on Human Resources, Employment Law, Payroll and Internal Controls

Office of the Superintendent of Financial Institutions

By | 5 Minutes Read

COVID-19 impact: OSFI capital and regulatory reporting update

In light of the operational and financial impact of COVID-19 on federally regulated financial institutions (FRFIs), the Office of the Superintendent of Financial Institutions (OSFI) announced new measures on April 9, 2020 relating to capital adequacy requirements and reporting requirements.

By | 6 Minutes Read

Three cybersecurity trends driving the Bank of Canada’s call for cybersecurity to be treated as a ‘public good’

As the level and sophistication of cyber-attacks continue to grow, there will be a mounting pressure on regulators to continue to develop coordinated, meaningful, mandatory minimum standards that are enforceable against all financial institutions and FMIs as well as their service providers.

By | 3 Minutes Read

OSFI issues advisory on use of words “bank”, “banker”, “banking”

On June 30, 2017, the Office of the Superintendent of Financial Institutions (“OSFI”) issued Advisory 2017-01 (the “Advisory”) providing additional guidance on its interpretation of the limitations in the Bank Act (Canada) (the “Bank Act”) on the uses of the words “bank”, “banker” and “banking” and related exceptions.

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