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ARTICLE · 09 DECEMBER 2021

OSFI Calls For Consultation On Draft Guidelines For Technology And Cyber Risk Management

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On November 9, 2021, the Office of the Superintendent of Financial Institutions (OFSI) launched a three-month public consultation on the Draft Guideline B-13: Technology and Cyber Risk Management.

CanadaTechnology
Stephen D. Burns
Stephen D. Burns
J. Sébastien Gittens
J. Sébastien Gittens
Ruth Promislow
Ruth Promislow
Matthew Flynn
Matthew Flynn
HC Lee
HC Lee
Amy Wong (Articling Student)
Amy Wong (Articling Student)
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On November 9, 2021, the Office of the Superintendent of Financial Institutions (OFSI) launched a three-month public consultation on the Draft Guideline B-13: Technology and Cyber Risk Management.

The Draft Guideline sets out OSFI's expectations with respect to “technology and cyber risk management” applicable to federally regulated financial institutions (FRFIs), such as banks, federally incorporated or registered trust and loan companies, insurance companies and pension plans subject to federal oversight. In particular, the Draft Guideline outlines various expectations regarding the development of robust management frameworks and policies by FRFIs to identify, respond to and recover from technology and cyber risks.

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