Regulatory and Legislative Advisories

Advisories clarify OSFI's position regarding certain policy issues or describe how OSFI administers and interprets provisions of existing federal financial legislation, regulations or guidelines. They are not generally based on specific circumstances pertaining to a particular transaction or type of transaction. Federal financial institutions are expected to consider the relevance of these advisories to their own particular circumstances and to take appropriate action, if needed. Advisories are evolving documents and therefore may require revision from time to time. Revised Advisories will be identified with an "R" placed at the end of the number, and a revision date.

Questions or comments regarding these Advisories may be directed to Regulatory Affairs.

No.Subject BA TLCA ICA CCAA
2020-03 Control in FactParagraph 3(1)(d)Paragraph 3(1)(d)Paragraph 3(1)(d)
2020-02 Corporate Names, Registered Names and Trade Names40 and other provisions41 and other provisions42 and other provisions
2020-01 Mergers Involving Foreign EntitiesParts XII and XII.1Part XIII
2017-01 Restrictions on the use of the words “bank”, “banker” and “banking” 983   
2015-01 Substantial Investments464-484, 925-948449-472490-514, 550-570.001, 656, 966-991386 - 408
2013-01 Business and Powers – Ownership Interests in Commodities409, 410409, 410440, 441375, 376
2008-01 Undertaking for the sharing of information with insurers416, 549416 381
2007-01-R1 Insurance in Canada of Risks  Part XIII 
2007-01 (superseded) Insurance in Canada of Risks  Part XIII 
2006-01-R1 Legislative Framework for Foreign BanksPart XII and Part XII.01   
2003-04-R1 Capital Structure - Declaration and payment of dividends79, 7228276186
2003-01 Business and Powers - Commercial lending limit 462504, 980399
2002-02 Business and Powers – Information respecting a customerSection 6 of the Insurance Business (Authorized Foreign Banks) Regulations Section 8 of the Insurance Business (Banks) RegulationsSection 8 of the Insurance Business (Trust and Loan Companies) Regulations  

Removed Advisories

2003-03-R1 Self-dealing – Asset transactions in restructuring

As a result of revisions to “Transaction Instruction DA No. 22 - Related party asset transactions as part of a restructuring”, this document is no longer relevant and has therefore been removed from OSFI’s website.


2003-02 Investments - Large asset transactions

As a result of revisions to “Transaction Instruction DA No. 18 - Asset Transactions Greater than 10% of Assets”, this document is no longer relevant and has therefore been removed from OSFI’s website.


2003-05 Substantial Investments – Banks and bank holding companies
2003-06 Substantial Investments – Insurance companies and insurance holding companies
2003-07 Substantial Investments – Trust and loan companies
2003-08 Substantial Investments – Fraternal benefit societies

Since these documents have been superseded by “Advisory 2015-01 – Substantial Investments”, they have been removed from OSFI’s website.


2007-02 Control in Fact

Since this document has been superseded by “Advisory 2020-03 - Control in Fact”, it has been removed from OSFI’s website.


2002-01-R1 Corporate Names, Registered Names and Trade Names

Since this document has been superseded by “Advisory 2020-02 - Corporate Names, Registered Names and Trade Names”, it has been removed from OSFI’s website.