Le Reporter (publié en anglais seulement) est un sommaire mensuel de l'évolution des législations et réglementations internationales et fédérales canadiennes qui sont pertinentes pour les institutions financières de régime fédéral au Canada. Il ne traite pas de l'évolution législative ou réglementaire des services financiers provinciaux, bien que BLG suive de près tout changement dans ce secteur et puisse, sur demande, fournir de l'information à ce sujet. De plus, les modifications de nature purement technique et administrative (comme elles qui sont apportées aux formulaires de rapport) ne sont pas traitées.

Juillet 2015

Institution

Published

Title and Brief Summary

Status

OSFI

[Applicable to banks and
trust and loan companies]

Issued July 30, 2015

Proposed Revisions for 2016 Guideline A, Minimum Continuing Capital and Surplus Requirements (MCCSR)

The revised guideline, which will be effective January 1, 2016, is proposing the following key changes:

  • Requiring that retained earnings be adjusted for property that is re-classified;
  • Requiring that the deduction of non-life, solvency-regulated financial corporations be floored at zero;
  • Addressing the treatment of subsidiaries that write a mixed business consisting of life and property and casualty within the same legal entity;
  • Requiring that a 0% credit risk factor for a foreign, public-sector entity be allowed only if the public-sector entity's sovereign is eligible for a 0% factor based on its rating;
  • Expanding the scope of guidelines A, MCCSR, E-19, Own Risk and Solvency Assessment and A-4, Regulatory Capital and Internal Capital Targets to include holding companies and non-operating life insurance companies, and repealing Guideline A-2, Capital Regime for Regulated Insurance Holding Companies and Non-Operating Life Companies ;
  • Reflecting the integration of advisories into the Guideline.

Comments should be provided no later than September 4, 2015

Expected effective date: January 1, 2016

BIS/Basel

[Applicable to Banks]

Published July 23, 2015

Criteria for identifying simple, transparent and comparable securitisations

The purpose of these criteria is to assist in the financial industry's development of simple, transparent and comparable securitisation structures. They are not intended to serve as a substitute for investors' due diligence. These criteria apply only to term securitisations and are non-exhaustive and non- binding. Additional and/or more detailed criteria may be necessary based on specific needs and applications.

Effective

OSFI

[Applicable to insurance companies]

Issued July 22, 2015

Draft 2016 Minimum Capital Test (MCT) Guideline for Industry Consultation

The draft Guideline includes proposed amendments to the regulatory capital requirements for federally regulated property and casualty (P&C) insurers. The most significant change is the addition of further provisions for equity risk exposures. The provisions include capital requirements for equity derivatives and equity instruments held short, and the recognition of equity hedging strategies employed by P&C insurers.

Comments should be provided no later that September 4, 2015

Expected effective date: January 1, 2016

BIS/Basel

[Applicable to Banks]

Published July 16, 2015

General guide to account opening - consultative document

When finalised, the proposed revised version of the General guide to account opening will be added as an annex to the Committee's Sound management of risks related to money laundering and financing of terrorism , published in January 2014. The proposed guide expands on, and should be read in conjunction with, the 2014 guidelines. The proposed guide is in no way intended to strengthen, weaken or otherwise modify the existing Financial Action Task Force (FATF) standards. Rather, it aims to support banks in implementing the FATF standards and guidance, which requires the adoption of specific policies and procedures, in particular on account opening.

Comments should be provided no later than October 22, 2015

BIS/Basel

[Applicable to Banks]

Published July 16, 2015

Guidelines for identifying and dealing with weak banks

In the light of the significant post-crisis developments in financial markets and the regulatory landscape, the Committee has updated its 2002 Supervisory guidance on dealing with weak banks. Part I of the report discusses the underlying supervisory preconditions for dealing with weak banks and techniques that will allow the supervisor to identify problems. These phases include preparatory work on recovery and resolution issues. Part II concerns the corrective measures available to turn around a weak bank and, for resolution authorities, tools for dealing with failing or failed banks.

Effective

BIS/Basel

[Applicable to Banks]

Published July 8, 2015

Corporate governance principles for banks

This document provides a framework within which banks and supervisors should operate to achieve robust and transparent risk management and decision-making and, in doing so, promote public confidence and uphold the safety and soundness of the banking system.

Effective

Finance

[Applicable to banks, cooperative credit associations, trust and loan companies and insurance companies]

Published (Gazette) – July 4, 2015

Proposed Regulations - Regulations Amending Certain Regulations Made under the Proceeds of Crime(Money Laundering) and Terrorist Financing Act, 2015

The following suite of regulatory amendments is proposed as part of the Government of Canada's efforts to strengthen Canada's anti-money laundering and anti-terrorist financing regime.

Interested persons may make representations within 60 days after the date of publication

Finance

[Applicable to insurance companies]

Published (Gazette) – July 1, 2015

Mutual Property and Casualty Insurance Company Having Only Mutual Policyholders Conversion Regulations

Mutual Property and Casualty Insurance Company with Non-mutual Policyholders Conversion Regulations

The Regulations provide federally regulated mutual P&C companies with the option to demutualize within a framework that ensures fair and equitable treatment of policyholders; and establishes an orderly and transparent process for demutualizing.

In force July 1, 2015

Autre auteur

Jeffrey S. Graham

Compétences

Services financiers
Services bancaires et financiers
Réglementation des services financiers