Backgrounder: Additional rescission or removal of documents from OSFI’s Guidance Library

Overview

As part of its Policy Modernization, the Office of the Superintendent of Financial Institutions (OSFI) is removing outdated or redundant guidance and related documents from its guidance library.

Over the past 18 months, OSFI has conducted the most comprehensive review of its regulatory content in its history. Building on the work from April 2025, OSFI is rescinding or removing 32 additional documents from its guidance library by December 31, 2025. In total OSFI has eliminated 52 documents representing more than 600 pages of content in English and French.

This work is part of OSFI’s annual policy planning process of consistently asking what regulations can be eased or eliminated—not just what should be added.

Why it’s important

Streamlining OSFI’s guidance library ensures regulatory expectations are clearer, which helps institutions better understand and meet their obligations. By removing outdated or redundant content, OSFI is reducing complexity and compliance burden, allowing institutions to focus more effectively on managing risk and serving their customers. Clear, modern guidance also enhances transparency and supports a more competitive, resilient financial system.

OSFI’s policy modernization helps contribute to effective oversight of the federally regulated Canadian financial system by:

• focusing on the right risk, with the right regulatory response, at the right time
• eliminating redundancies and outdated expectations, and simplifying guidance
• supervising more effectively and efficiently
• enhancing transparency and predictability

Implementation

OSFI will keep reviewing and simplifying its guidance library for clarity and efficiency. Future updates will be published on OSFI’s website.