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ARTICLE · 11 SEPTEMBER 2024

OSFI's First Industry Day: Key Highlights And Takeaways

McMillan LLP
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On September 5, 2024, the Office of the Superintendent of Financial Institutions ("OSFI") hosted its inaugural virtual Industry Day. This event follows OSFI's first quarterly release of guidance and offered a high-level...

CanadaFinance and Banking
Darcy Ammerman
Darcy Ammerman
Mathurhaen Siri
Mathurhaen Siri
Nicole Davidson (Summer Law Student)
Nicole Davidson (Summer Law Student)
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On September 5, 2024, the Office of the Superintendent of Financial Institutions ("OSFI") hosted its inaugural virtual Industry Day. This event follows OSFI's first quarterly release of guidance and offered a high-level briefing for stakeholders on OSFI's initiatives for this quarter (see our bulletin summarizing the release here). Together, OSFI's quarterly releases and industry days aim to offer predictability and transparency to federally regulated financial institutions ("FRFIs").

Industry Day Sessions

OSFI hosted four sessions during the industry day event, followed by question-and-answer periods covering the following topics:

  • OSFI Policy Review

In the wake of the 2008 financial crisis and the COVID-19 pandemic, OSFI is adapting its policies to be more responsive to risks. Quarterly releases will align with current prominent risks to ensure OSFI's guidance is relevant and timely.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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