Office of the Superintendent of Financial Institutions
The purpose of the Transaction Instructions is to provide applicants seeking regulatory approval under the
Bank Act, the
Trust and Loan Companies Act, the
Insurance Companies Act and the
Cooperative Credit Association Act with OSFI's information filing requirements, as well as administrative guidance, as appropriate, to facilitate the application process.
The information requirements are intended to satisfy the typical application of each type. They have been derived from OSFI's considerable experience in assessing applications. OSFI anticipates that applicants who provide all information and material requested can expect a more timely assessment of their applications. Additional information may be requested as appropriate to the circumstances. There are two Indexes of Transaction Instructions:
The Regulations Amending the Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002 (the Regulations) were registered and took effect on April 28, 2006, and are published in the May 17, 2006 issue of the
Canada Gazette, Part II (SOR 2006/74). The Regulations reduce the number of service fees for services offered by OSFI from 52 to 14. The service fees that remain are those that are paid by non-federally regulated institutions such as new applicants, and those that are charged for rulings, interpretations, capital quality confirmations, and copies of corporate documents. The original Regulations and the amended Regulations can be found in the
Canada Gazette Part II, Vol. 136, No. 21, SOR/2002-337 and the
Canada Gazette Part II, Vol. 137, No. 18, SOR/2003-291 respectively.
In 2017, the Government of Canada introduced the
Service Fees Act (the
Act) to replace the
User Fees Act. OSFI charges fees for services in accordance with this Act. The Act requires the implementation of service standards for the delivery of these services, along with a policy to remit fees to fee payers when standards are not met. The Act further provides for an automatic annual fee adjustment by the Consumer Price Index to ensure that fees keep pace with inflation.