Financial institutions told to consult regulator before using capital to buy back shares
The Office of the Superintendent of Financial Institutions has issued a letter to federally regulated financial institutions regarding their progress to the transition to International Financial Reporting Standards (IFRS).In the letter, OSFI notes that all federally regulated financial institutions will be required to submit semi-annual reports detailing the progress being made to the move to […]
Report from FATF analyzes the methodologies that proliferators and facilitators use
Objective is to promote awareness and enhance transparency of the intervention framework for federally regulated life insurance companies
Capital rules may amplify distortions
Rule changes reflect observations made during ABCP disruption
Regulator enhances disclosure requirements
The Office of the Superintendent of Financial Institutions has published a draft advisory that gives insurance companies guidance on the recognition of hedges in terms of their segregated fund capital requirements.In the advisory, OSFI notes that it encourages companies with material segregated fund guarantee risk exposure to develop and implement plans for managing this risk, […]
Off-balance sheet vehicles can no longer be ingnored by regulators
The Office of the Superintendent of Financial Institutions (OSFI) has issued a notice concerning the adoption of International Financial Reporting Standards (IFRS) by federally regulated financial firms, noting that firms won’t be allowed to adopt the standards early, and that it will demand more disclosure on the issue.OSFI notes that the Canadian Accounting Standards Board […]