Implementation of Support Principle Policy to Replace Requesting Letters of Comfort

Document Properties

  • Type of Publication: Letter
  • Date: February 21, 2000

Please find enclosed a Guidance Note in respect of OSFI’s implementation of its new Support Principle policy. The policy replaces OSFI’s previous practice of requiring the controlling shareholder of a federally regulated financial institution (FRFI) to provide a letter of comfort at the time it either incorporated or acquired control of a FRFI.

Enquiries regarding this policy and its implementation should be directed to Brian Long, Director, Precedents and Guideline Support, Legislation and Precedents Division, at (613) 990-8838.

This guidance note is available in English and French on OSFI's Internet site (http://www.osfi-bsif.gc.ca) under the Publications section.

  • Julie Dickson
  • Assistant Superintendent
  • Regulation Sector