Transaction instructions

Financial institutions need to apply for regulatory approval under federal acts that the Office of the Superintendent of Financial Institutions (OSFI) is responsible for. To make our process as transparent as possible and improve our assessment times, we’ve created transaction instructions. They supply applicants with: 

  • what information we need to assess your application 
  • what we look for in applications

If you provide all the information and material we request, you can expect a more timely assessment of your application. We may request more information, if needed.

Incorporation and continuance guides

For more detailed instructions for incorporation or continuance, please refer to the following guides:

List of transaction instructions

Type of transaction Legislative authorities Deemed approval/Not subject to deemed approval
Continuation of a body corporate Non deemed approval
Change of name – letters patent Non deemed approval
Change of name – foreign entity Non deemed approval
Change of name – by-law Deemed approval
Asset transaction greater than 10% of assets Deemed approval
Amending an order to insure in Canada risks to add or delete a class of insurance (foreign company) Non deemed approval
Amending an order to commence and carry on business to add or delete a class of insurance (Canadian company) Non deemed approval
Amalgamations Non deemed approval
Acquisition or increase of a significant interest* in, and/or acquisition of control** of, a federally regulated entity*** Non deemed approval
Acquisition or disposal of assets exceeding 5% of a FI’s assets, to/from a widely held bank or insurance holding company or a subsdiary of the holding company that is related to FI Deemed approval
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