Region: Canada

Canadian regulator demands banks produce “comprehensive” plans for technology and cyber risk

Canada’s financial regulator will require banks to set up plans for technology development and cyber security, according to its latest guidance.

14 July 2022

Canadian regulator “misses opportunity” with bank climate proposals

Canada’s financial regulator has released proposals to ramp up climate risk disclosures and stress testing, prompting criticism it has missed its opportunity to specify alignment with net zero targets.

30 May 2022

Canadian benchmark to cease in 2024

The administrator of the Canadian dollar offered rate has announced it will cease publishing the benchmark in 2024, as the Bank of Canada consults on a new term rate for the financial sector.

18 May 2022

Canada cements regulation of crowdfunding and payments platforms

Canada’s payment service providers and crowdfunding platforms will now permanently fall under the purview of its anti-money laundering agency, months after the change came in as a temporary emergency measure amid the Ottawa blockade.

29 April 2022

Canadian regulator “vulnerable to political interference”, report finds

The Ontario Securities Commission – the most prominent securities regulator in Canada – has seen political interference affect its decision-making and should be granted greater powers, according to a report conducted by the province’s top civil official.

02 December 2021

Community round-up: senior hires at FINMA and Bank of Canada

The secretary-general of the Basel Committee on Banking Supervision and the CEO of insurer Zurich are set to take senior roles at the Bank of Canada and Swiss regulator FINMA respectively.

19 July 2021

New leadership at Canada’s OSFI

The CEO of Canada’s deposit insurance agency is set to take over the Office of the Superintendent of Financial Institutions, the country’s chief regulatory body.

28 June 2021

US & Canada signal end of covid-era capital indulgence

US and Canadian regulators are rolling back pandemic-era capital measures, with a Canadian regulator resuming its Basel III implementation plans and the US Federal Reserve calling time on its go-easy approach to the supplementary leverage ratio.

23 March 2021

False statements and disclosure issues fuel Scotiabank’s market manipulation settlements

US authorities have slapped Canada’s Scotiabank with harsh penalties in a market manipulation case, in part because of its failure to reveal the full extent of wrongdoing when voluntarily disclosing the matter.

02 September 2020

BIS innovation hub extends reach with four new centres

The Bank for International Settlements has announced the launch of four new innovation hub centres across Europe and North America, as it intensifies its research into fintech for central banks.

01 July 2020

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