News & Updates
OSFI updates supervisory framework for federally regulated financial institutions and private pension plans
February 22, 2024
The Office of the Superintendent of Financial Institutions (OSFI) has released a supervisory framework for federally regulated financial institutions, including federally regulated pension plans, which will come into force in April 2024.
The new framework will update OSFI’s supervisory approach. For example, the new framework will include more information about the drivers of an organization’s risk rating.
OSFI has also added new risk assessment categories to the framework, including business risk, financial resilience, operational resilience and risk governance, together with the integration of climate risk considerations.
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