ARTICLE · 11 OCTOBER 2023

OSFI Releases New Supervisory Framework For FRFIs And Pension Plans

Stikeman Elliott LLP

Explore more from Stikeman Elliott LLP

On October 4, 2023, the Office of the Superintendent of Financial Institutions ("OSFI") released details of a new supervisory framework ("New Framework") that will apply as of April 1, 2024...

CanadaEmployment and HR

Stuart Carruthers

Andrew Cunningham

Author LinkedIn connections

On October 4, 2023, the Office of the Superintendent of Financial Institutions ("OSFI") released details of a new supervisory framework ("New Framework") that will apply as of April 1, 2024 to federally-regulated financial institutions ("FRFIs") and pension plans. This initiative is part of OSFI's comprehensive "Blueprint" transformation program, and will be the most comprehensive update to OSFI's supervisory framework in the last 25 years. OSFI will publish more information about the New Framework in early 2024.

OSFI has constructed the New Framework to give it the flexibility it considers it needs to respond to the current risk environment, with a particular focus on:

macro-economic risks that may impact FRFIs and pension plans;

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

BC Provincial Election 2026: A Practical Guide To Employer Voting Obligations

CanadaEmployment and HR

Tips For Navigating The Toronto Recruit

CanadaEmployment and HR

Fogler, Rubinoff LLP

Rapports Sur La Transparence Salariale En C.-B. : Une Nouvelle Date Limite Approche

CanadaEmployment and HR

Fasken (French)

How Do You Conduct A Workplace Investigation Involving A Cross-Border Executive?

CanadaEmployment and HR

What Are The Main Contracting Issues In A Cross-Border Executive Employment Agreement? (Video)

CanadaEmployment and HR

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

Comparative Guide

Employee Incentives

Comparative Guide

Technology Outsourcing

See more popular content from

Employment and HR

WorkSafeBC Proposes Changes To Laws Regarding Workplace Harassment And Violence

WorkSafeBC is proposing significant amendments to British Columbia's Occupational Health and Safety Regulation that would fundamentally reshape how employers address workplace harassment, violence, and psychological health. The proposed changes introduce expanded definitions, new prevention program requirements, and obligations to identify and control psychosocial hazards. These amendments could require most B.C. employers to substantially revise their existing workplace policies and procedures.

CanadaEmployment and HR

Provincial Employment Law Update: Key Changes Impacting Employers In Québec, Ontario, And British Columbia

Keeping up with employment law in Canada used to be a marathon. Now, it's a sprint. For employers in Québec, Ontario, and British Columbia, a significant volume of new legislation...

CanadaEmployment and HR

New Regulations For Gig Workers In Ontario And British Columbia

Canada's gig economy continues to grow steadily, with nearly half a million Canadians now engaged in this type of work. Many businesses rely on this form of highly flexible labour...

CanadaEmployment and HR

Aird & Berlis LLP

Remembrance Day Becomes A National Holiday – But Still Not A Paid Holiday For Many Employees

Since the end of the First World War, Canadians have recognized November 11 as Remembrance Day, a day to honour members of our armed forces who have died in the line of duty.

CanadaEmployment and HR

McCarthy Tétrault

Tariffs, Terminations And EI: Implications Of Canada’s New Support Package For Employers

Canada's federal government has announced a $3.5 billion rapid response support package in anticipation of retaliatory tariffs against the United States, introducing new temporary employment insurance measures and workforce retention programs. The package extends EI benefits, waives waiting periods, and creates funding opportunities for employers to retain and retrain workers rather than implement large-scale layoffs.

CanadaEmployment and HR

Remember...The 11th Of November? Remembrance Day Becomes A Legal Holiday

On March 1, 2018, An Act to amend the Holidays Act (Remembrance Day) received royal assent and became law.

CanadaEmployment and HR

Court Awards Terminated Executive Over $456,000 After Finding Employer's Conditional Severance Offer Constituted Repudiation Of The Employment Agreement

The Ontario Superior Court of Justice recently provided important guidance regarding the repudiation of employment agreements and common law notice entitlements...

CanadaEmployment and HR

Hicks Morley Hamilton Stewart Storie LLP

Employment Law Update 2026: Key Developments For Employers

Ontario employers continue to face a rapidly evolving employment law landscape. Recent appellate decisions have provided much needed guidance on termination clauses and equity compensation, while proposed federal legislation signals a significant shift in the treatment of non-compete agreements. Below is a summary of several notable developments from 2026 so far.

CanadaEmployment and HR

Gardiner Roberts LLP

Bill C-39: A New Framework For Federal Collective Labour Relations

Bill C-39, the Building Canada Strong Act, proposes significant amendments to the Canada Labour Code that will reshape collective bargaining timelines, ministerial intervention powers, and union certification processes for federally regulated employers. The legislation introduces new conditions for government intervention in labour disputes, accelerates bargaining deadlines for certain collective agreements, and expands obligations for airport service providers.

CanadaEmployment and HR

Langlois Avocats

A Matter Of Interpretation: Termination Clause Prevails Under The Canada Labour Code

The Ontario Superior Court of Justice has applied the Baker v. Van Dolder's Home Team framework to uphold a termination clause under the Canada Labour Code, rejecting a plaintiff's claim for common law reasonable notice. This decision demonstrates how courts will now interpret employment agreements by examining the parties' objective intentions rather than conducting technical word-by-word analysis of contractual provisions.

CanadaEmployment and HR