The Office of the Superintendent of Financial Institutions has issued the final version of several disclosure guidelines, but notes that it may have to update derivatives disclosure requirements to bring them in line with changing international standards.

OSFI published the final version of three annual disclosure guidelines and a derivatives disclosure guideline that are being revised in line with new Canadian accounting standards, which introduce new and expanded accounting standards for financial instruments, including derivatives. The amendments are designed to ensure that OSFI’s guidelines are consistent with the disclosure requirements and terminology of the new standard.

The regulator notes that it will not be making further amendments to its derivatives disclosure guideline at this time because “we are awaiting the completion of work at the international level regarding changes to derivative requirements. Once there has been international agreement on changes to derivative requirements, OSFI will amend [that guideline], if appropriate,” it says.