User Fees

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User Fees and Regulatory Charges (User Fees Act)

User fee: Superintendent Non-deemed Approvals Except Deposit and Trust Agreements and Letters of Credit

S1-21 Approval to maintain a representative office of a foreign bank
S1-40 Reservation of a name
S2-02 Accreditation of a provincial reinsurer

Fee type: Regulatory (R)

Fee-setting authority: OSFI Act

Date last modified: 2006

Performance standards: 90% will be processed in less than 60 calendar days of receipt

Performance results: 100% were processed in less than 60 calendar days of receipt

User fee: Ministerial Approvals

S1-01 Letters patent of incorporation
S1-02 Letters patent of continuance
S1-03 Order permitting a foreign bank to carry on banking business in Canada
S1-04 Order approving the insuring in Canada of risks by a foreign body corporate
S1-14 Exemption from material banking group status
S1-15 Approval for a foreign bank or entity associated with a foreign bank to have a financial establishment in Canada
S1-16 Approval for a foreign bank or entity associated with a foreign bank in respect of investments and activities in Canada

Fee type: R

Fee-setting authority: OSFI Act

Date last modified: 2006

Performance standards: 80% will be processed in less than 90 calendar days of receipt

Performance results: 100% were processed in less than 90 calendar days of receipt

User fee: Precedents / Rulings / Interpretations

S2-01 Written, precedent-setting ruling relating to the quality of capital
S2-03 Written interpretation of Acts, regulations, guidelines or rulings

Fee type: R

Fee-setting authority: OSFI Act

Date last modified: 2003

Performance standards: 80% will be processed in less than 180 calendar days of receipt

Performance results: 100% were processed in less than 180 calendar days of receipt

User fee: Non-precedential Confirmations of Quality of Capital

S2-04 Written, non-precedent-setting confirmation of quality of capital

Fee type: R

Fee-setting authority: OSFI Act

Date last modified: 2003

Performance standards: 90% will be processed in less than 60 calendar days of receipt

Performance results: 100% were processed in less than 60 calendar days of receipt

User fee: Copies of Corporate Documents and Certificates of Confirmation

S2-10 Copies of any one of the following corporate documents (per request and per body corporate): (a) a certificate of confirmation; (b) a certified copy of letters patent or of incorporation or amalgamation documents; and (c) the corporate history of a body corporate

Fee type: Other Products and Services (O)

Fee-setting authority: OSFI Act

Date last modified: 2003

Performance standards: 90% will be processed within 2 business days of receipt

Performance results: 100% were processed within 2 business days of receipt

User fee: Access to Information User Fees - Fees charged for the processing of access requests filed under the Access to Information Act

Fee type: O

Fee-setting authority: Access to Information Act

Date last modified: 1992

Performance standards: Response provided within 30 days following receipt of request; response time may be extended pursuant to section 9 of the Access to Information Act.

Performance results: Statutory deadline of 30 days met 100% of the time *

* A Notice of Extension is sent to the requester within 30 days of receipt of request. The Act provides more details: http://laws.justice.gc.ca/en/A-1/218072.htm

Other Information:

In July 2000, the Canada Customs and Revenue Agency ruled that most of the service charges are exempted from GST under the Excise Tax Act.

A fee is either identified as “Regulatory” (R) or “Other Products and Services” (O).  A Regulatory fee relates to an activity undertaken by a department that is integral to the effectiveness of a program and successful achievement of the program mandate requires moderating, directing, testing, or approving the actions of external parties.

The full cost is based on the fiscal year salary levels according to collective agreements, the fiscal year Treasury Board benefit factors and OSFI’s factor for indirect costs.

Note: According to prevailing legal opinion, where the corresponding fee introduction or most recent modification occurred prior to March 31, 2004:

• the performance standard, if provided, may not have received parliamentary review;
• the performance standard, if provided, may not respect all establishment requirements under the User Fee Act (e.g. international comparison; independent complaint address); and
• the performance result, if provided, is not legally subject to section 5.1 of the User Fee Act regarding fee reductions for unachieved performance.

Other information:

As established pursuant to the Policy on Service Standards for External Fees:

• service standards may not have received parliamentary review;
• service standards may not respect all performance standard establishment requirements under the User Fee Act (e.g. international comparison; independent complaint address); and
• performance results are not legally subject to section 5.1 of the User Fee Act regarding fee reductions for unachieved performance.

During 2013-2014, OSFI conducted a confidential consultation with life insurance companies.  Results showed that OSFI’s Approvals staff is perceived to respond in a timely manner to requests for approvals and to provide opportunities for companies to discuss issues of concern.  Further results showed that OSFI’s guidance provides clear and transparent expectations in a way that is easy to understand.

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