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ARTICLE · 13 FEBRUARY 2013

Final Version Of OSFI’s Corporate Governance Guideline Released

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The Office of the Superintendent of Financial Institutions Canada (OSFI) has released the final version of its revised Corporate Governance Guideline (the Final Guideline).

CanadaCorporate/Commercial Law
Robert McDowell
Robert McDowell
Robert Elliott
Robert Elliott
Koker Christensen
Koker Christensen
Sunny Sodhi
Sunny Sodhi
Kathleen Butterfield
Kathleen Butterfield
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The Office of the Superintendent of Financial Institutions Canada (OSFI) has released the final version of its revised Corporate Governance Guideline (the Final Guideline). The release of the Final Guideline follows an extensive consultation process that began in August 2012 when OSFI released a draft revised Corporate Governance Guideline (the Draft Guideline) for public comment. The Draft Guideline proposed significant changes in the areas of board effectiveness, risk governance and the roles of the chief risk officer (CRO) and the audit committee. For a summary of the Draft Guideline, please refer to our earlier bulletin. This Bulletin provides an overview of differences between the Final Guideline and the Draft Guideline and offers some observations regarding the Final Guideline.

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