Office of the Superintendent of Financial Institutions
OSFI has prepared responses to a number of common questions that are likely to be
raised regarding its service charges
A1. The service charges are set out in regulations which came into effect on January
1, 1999. On April 28, 2006, the regulations were amended to reduce the number
of service charges from 52 to 14. The remaining service charges include those
charged to non-federally regulated institutions such as new entrants and foreign
institutions, and those charged for rulings, interpretations, capital quality
confirmations, and copies of corporate documents. A list of applicable service
charges is available on OSFI’s website under User Fees/Service Charges.
A2. OSFI believes that service standards enhance its accountability and transparency.
The service standards therefore continue to apply, regardless of whether there is
an associated fee. The service standards are available on OSFI’s website under
User Fees/Service Charges.
A3. Service charges were determined through an internal review program which
assessed the time spent on common types of approvals or requests for
authorization. OSFI regularly reviews the process to ensure that the service
charges continue to be appropriate and equitable for all industry participants.
A4. Fees for large or complex requests will be handled on an individual basis and a
separate contract may be established with the applicant.
A5. OSFI encourages institutions or other external parties to discuss the nature of any
requests with a representative from its Legislation and Approvals Division prior
to submitting the formal requests. A list of applicable service charges is outlined
on OSFI’s website under User Fees/Service Charges.
A6. Applications and requests for approvals should be directed to:
Legislation and Approvals Division, Office of the Superintendent of Financial
Institutions, 15th Floor, Kent Square, 255 Albert Street, Ottawa, Ontario K1A 0H2
A7. The original application for approval or a request for information should be sent
to the Legislation and Approvals Division. With the exception of requests for
corporate documents, a copy of the application/request should be forwarded to
OSFI’s Relationship Manager for the institution.
A8. Payment must be provided with the formal request for approval.
A9. The cheque should be made out to: Receiver General for Canada
A10. Only certain items in Schedule 2 of the Regulations require GST in addition to the
fee. GST is payable on items 1, 3, 4 and 10 of Schedule 2, as listed in the
A11. No. Applications for approval will be treated in the same manner regardless of
whether they are subject to a service charge. If an applicant or interested party
wants information concerning the status of a request or regarding how long the
request will take to process, they should discuss the situation with the Legislation
and Approvals Division.
A12. The normal practice at OSFI is not to refund fees once the review process has
commenced, even if the application is subsequently withdrawn or turned down.
OSFI encourages all parties to discuss the nature of their requests for approval with a representative of its Legislation and Approvals Division prior to submitting
them to find out if the request meets the general guidelines of the legislation.
A13. Receipt of applications and applicable fees will be confirmed in writing by OSFI
within 15 days. Should applicants want earlier confirmation, they should contact
the Legislation and Approvals Division.
A14. Here are three illustrative examples:
If a party were to request five certificates of confirmation for only one
institution in a single request, the fee would be $160 plus GST.
If a party were to request five certificates of confirmation for three
institutions, in one request letter, the fee would be $480 ($160 per institution)
plus GST; and
If a party were to request a certificate of confirmation, a certified copy of
letters patent and a corporate history for one institution in a single request, the
fee would be $480 ($160 for each request for the one institution) plus GST.