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 |
|---|---|---|
| Related party transactions of nominal value |
|
Deemed approval |
| Related-party asset transactions as part of a restructuring |
|
Deemed approval |
| Related-party asset transactions with a financial institution |
|
Deemed approval |
| Sale of all or Substantially all Assets by Deposit-taking Institutions |
|
Non deemed approval |
| Substantial Investments* Requiring Ministerial Approval – Permitted Entities |
|
Non deemed approval |
| Substantial Investments* Requiring Superintendent Approval – Permitted Entites |
|
Deemed approval |
| Termination of Business in Canada of an Authorized Foreign Bank |
|
Non deemed approval |
| Termination of Insurance Business in Canada of Foreign Insurance Companies |
|
Non deemed approval |
| Transaction Instructions – Part XII: Approval to have a financial establishment in Canada |
|
Non deemed approval |
| Voluntary liquidation and dissolution |
|
Non deemed approval |