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Perspectives

Rapport sur la législation et la réglementation applicables aux institutions financières fédérales — septembre 2018

Le Reporter (publié en anglais seulement) est un sommaire mensuel de l'évolution des législations et réglementations internationales et fédérales canadiennes qui sont pertinentes pour les institutions financières de régime fédéral au Canada.

Le Reporter (publié en anglais seulement) est un sommaire mensuel de l'évolution des législations et réglementations internationales et fédérales canadiennes qui sont pertinentes pour les institutions financières de régime fédéral au Canada. Il ne traite pas de l'évolution législative ou réglementaire des services financiers provinciaux, bien que BLG suive de près tout changement dans ce secteur et puisse, sur demande, fournir de l'information à ce sujet. De plus, les modifications de nature purement technique et administrative (comme celles qui sont apportées aux formulaires de rapport) ne sont pas traitées.

September 2018

Institution

Published

Title and Brief Summary

Status

OSFI

[Banks, Bank Holding Companies, Federally Regulated Trust and Loan Companies, Cooperative Retail Associations, Life Insurance Companies, Fraternal Benefit Societies, Property and Casualty Insurance Companies, Insurance Holding Companies]

September 18, 2018

Corporate Governance Guideline

The revisedCorporate Governance Guidelinesets out OSFI’s expectations for boards of directors of federally regulated financial institutions.

Key changes include:

  • Providing boards with greater discretion over how they meet the principles of the Guideline, taking into account their institutions’ size, complexity and risk profile;
  • Clarifying the delineation between board and senior management responsibilities; and
  • Consolidating and rationalizing all OSFI requirements for boards in one guideline.

Effective

OSFI [Federally Regulated Insurers (including Life Insurance Companies and Property and Casualty Insurance Companies)]

September 14, 2018

Asset Securitization

The proposed amendments to Guideline B-5: Asset Securitization reflect events that have affected securitizations since 2004, including the financial crisis and changes to the Basel Framework. The Guideline also incorporates relevant content from the Advisory Securitization – Expected Practices (the Advisory), which was published in 2008. OSFI plans to repeal the Advisory when the revised Guideline becomes effective, currently planned for January 1, 2019.

Comments period endedOctober 12, 2018.

 

Disclaimer

This Reporter is prepared as a service for our clients. It is not intended to be a complete statement of the law or an opinion on any subject. Although we endeavour to ensure its accuracy, no one should act upon it without a thorough examination of the law after the facts of a specific situation are considered.

To view the Reporter for previous months, please visit our Banking and Financial Services publications page.

  • Par : Jeffrey S. Graham