Consultation | Oct 15, 2023
Image: Unsplash/Unseen StudioThe Office of the Superintendent of Financial Institutions (OSFI) has introduced new draft guidelines aimed at enhancing the integrity, security, and operational resilience of financial institutions for consultation
The Office of the Superintendent of Financial Institutions (OSFI) has unveiled a draft Integrity and Security Guideline to safeguard financial institutions against foreign interference and enhance their overall security.
A revised Guideline E-21 has also been introduced, focusing on operational resilience and risk management, with new expectations for business continuity, crisis management, and data risk management.
See: CSA Seeking Comments on Proposed Changes to Governance and Disclosure Practices Around Diversity
Peter Routledge, Superintendent of Financial Institutions:
Public confidence in financial institutions depends, not only on sound financial management, but also their integrity and security. These guidelines represent an incremental but critical step in clarifying our expectations of them. We hope they help financial institutions identify how to be more secure and more resilient.
🗣️ Public Consultation Open: OSFI has opened the floor for public consultations on both guidelines, inviting financial institutions, stakeholders, and the public to provide their insights and feedback.
See: OSFI’s Evolving Focus on Integrity & Security
These guidelines are crucial in maintaining public confidence and ensuring a secure and resilient financial system in Canada. For detailed information and to participate in the consultation, visit the OSFI website.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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- Source: https://ncfacanada.org/consultation-osfi-unveils-guidelines-for-robust-financial-system/
