Office of the Superintendent of Financial Institutions
For Immediate Release
OTTAWA ─ September 18, 2018 ─ Office of the Superintendent of Financial Institutions Canada
Today, the Office of the Superintendent of Financial Institutions (OSFI) published the final version of its Corporate Governance Guideline. The revised guideline sets out OSFI’s expectations for boards of directors of federally regulated financial institutions.
The revised guideline enables boards to be more effective in executing their roles and responsibilities. OSFI held a public consultation in 2017. Key changes include:
“Corporate boards play a critical role in ensuring institutions’ safety and soundness. This update sets a high standard while providing boards with the flexibility to meet those standards in the most effective way for their institutions,” said Carolyn Rogers, Assistant Superintendent.
The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987, to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks.
OSFI – Public Affairs