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ARTICLE · 06 DECEMBER 2017

A Look Inside OSFI's Draft New Corporate Governance Guideline

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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In November 2017, the Office of the Superintendent of Financial Institutions (OSFI) released for public comment a revised draft of its Corporate Governance Guideline (CG Guideline).

CanadaCorporate/Commercial Law
Paul Belanger
Paul Belanger
Vladimir Shatiryan
Vladimir Shatiryan
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In November 2017, the Office of the Superintendent of Financial Institutions (OSFI) released for public comment a revised draft of its Corporate Governance Guideline (CG Guideline). The proposed revisions follow Superintendent Jeremy Rudin's announcement in June 2016 that OSFI intended to streamline and simplify the governance guidance for federally regulated financial institutions. In the draft CG Guideline, OSFI provides a clearer delineation of board and senior management responsibilities, removes some of the more prescriptive elements of the existing CG Guideline, and consolidates expectations relating to board responsibilities that are currently set out in OSFI's capital and risk-management guidelines into the CG Guideline.

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