On May 1, 2020, the Office of the Superintendent of Financial Institutions (OSFI), Canada’s prudential banking regulator, issued guidance on the use of internal capital buffers by small and medium-sized banks (SMS Banks) and...more
On December 5, 2019, the Office of the Superintendent of Financial Institutions (OSFI) released the final version of the updated Guideline B-6: Liquidity Principles (Guideline). The Guideline applies to banks and federally...more
Recently, the federal government published amendments to the regulations made under the United Nations Act (UN Act) and the Special Economic Measures Act (SEMA), Canada’s key sanctions legislation. Among other changes, the...more
On October 29, 2018, the federal government introduced Bill C-86, Budget Implementation Act, 2018, No. 2 (Bill C-86), the second omnibus budget bill of 2018. If passed, Bill C-86 will, among other things, amend the Bank Act...more
The amendments to the Bank Act that restrict the use of the words “bank”, “banker” and “banking” (Bank Words) by non-bank entities were recently proclaimed into force and the Office of the Superintendent of Financial...more