OSFI

ABOUT

Office of The Superintendent of Financial Institutions (OSFI) regulates and supervises all banks in Canada and all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations and private pension plans. OSFI’s mandate does not include consumer-related issues or the securities industry. Its primary role is to ensure the solvency and security of Canada’s financial institutions. It provides input on accounting, auditing and actuarial standards and determines how to incorporate them into its regulatory framework. OSFI also assesses an institution’s material risks, quality of its risk management and corporate governance practices. If there are problems, it will intervene at an early stage. OSFI is a self-funded agency.

MONEY | WATCH

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