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On April 24, 2023, the Office of the Superintendent of Financial Institutions (OSFI), Canada’s federal financial institutions regulator, released its much-anticipated new Guideline...
Fintechs and other entities that contract with federally regulated financial institutions (FRFIs) should be aware of the possibility of more stringent requirements regarding risk...
On April 27, 2022, the Office of the Superintendent of Financial Institutions (OSFI), Canada’s federal financial institutions regulator, released its much-anticipated new Draft...
that branches must prepare and maintain regarding their business in Canada (the " Canadian Records"). OSFI expects the Canadian Records to be "updated and accurate as at the end of each business day," and that the Canadian Records will be sufficiently detailed to enable: OSFI to conduct an examination and inquiry into the branch's business; OSFI to manage the branch's assets, prior to the appointment of a liquidator, should the Superintendent take control of the branch's assets in Canada; and The liquidator to conduct an effective liquidation of the branch's assets in Canada. Guideline E-4 sp...