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OSFI guidance on capital instruments

Osler, Hoskin & Harcourt LLP
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Canada
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February 16 2011

On December 16, 2010, the Basel Committee on Banking Supervision (BCBS) released new international bank capital adequacy rules and rules for minimum and appropriate forms of bank liquidity (commonly called Basel III

Enhancements to the OSFI Supervisory Framework

Osler, Hoskin & Harcourt LLP
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Canada
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March 9 2011

The Office of the Superintendent of Financial Institutions Canada (OSFI) recently announced certain enhancements to the OSFI Supervisory Framework (Framework) regarding its supervision of federally regulated financial institutions (FRFIs

Digital payments systems expect more regulations

Osler, Hoskin & Harcourt LLP
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Canada
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October 6 2011

Although Canada is one of the most advanced economies of the world, it is surprising (at least to some) that Canadian consumers are not very frequent users of mobile payment systems when compared to consumers in the U.K., Germany, Japan and a number of other developed and developing countries

OSFI releases Final Advisory on non-viability contingent capital

Osler, Hoskin & Harcourt LLP
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Canada
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August 18 2011

On August 16, 2011, the Office of the Superintendent of Financial Institutions Canada released the final advisory outlining its expectations in respect of issuance of non-viability contingent capital by banks, bank holding companies and federally-regulated trust and loan companie

Canadian government introduces amendments to Bank Act

Osler, Hoskin & Harcourt LLP
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Canada
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November 30 2011

The Bank Act and a number of other federal statutes relating to financial institutions must, by law, be reviewed every five years

Basel III and other developments affecting Canadian financial instruments

Osler, Hoskin & Harcourt LLP
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Canada
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January 19 2012

Canadian banks did not issue much regulatory capital in 2011 because participants were well-capitalized and are waiting for finalization of the Basel III capital rules in 2013 which will affect the form of capital they can raise

Canadian government proposes comprehensive amendments to anti-money laundering legislation

Osler, Hoskin & Harcourt LLP
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Canada
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January 10 2012

On December 21, 2011, the Canadian federal government released a consultation paper (the Consultation Paper) containing certain proposals to strengthen Canada’s anti-money laundering (AML) and anti-terrorist financing (ATF) legislative framework, which is administered through the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLA) and related regulations (collectively, AML Legislation

Importance of anti-money laundering controls

Osler, Hoskin & Harcourt LLP
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Canada
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July 16 2012

If businesses needed any evidence of the importance of having adequate anti-money laundering controls in place, perhaps the possibility of a $1 billion fine that could be imposed by U.S. regulatory authorities on a financial institution for having inadequate controls will get their attention

Task Force releases final report on payments system overhaul

Osler, Hoskin & Harcourt LLP
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Canada
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March 28 2012

On March 23, 2012, the Task Force for the Payments System Review (the Task Force) released its final report (the Report) entitled Moving Canada into the Digital Age

OSFI releases draft revisions to its Guideline on Corporate Governance

Osler, Hoskin & Harcourt LLP
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Canada
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August 8 2012

On August 7, 2012, the Office of the Superintendent of Financial Institutions released for public comment draft revisions to its Guideline on Corporate Governance

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