The Reporter provides a monthly summary of federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address provincial financial services legislative and regulatory developments, although this information is tracked by BLG and can be provided on request.   In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered.

June 2014

Title and Brief Summary


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


Issued – June 27, 2014


Late and Erroneous Filing Penalty Framework (LEFP)


The implementation of the new Regulatory Reporting System (RRS) required a number of administrative changes to the Late and Erroneous Filing Penalty Framework (LEFP) to accommodate the functionality of the new system. However, the fundamental nature of the LEFP framework remains unchanged. Please refer to the revised framework for further details.





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



Issued – June 27, 2014



Draft guideline on Public Capital Disclosure Requirements related to the Basel III Leverage Ratio


The draft guideline provides clarification on the implementation of the Basel Committee on Banking Supervision’s leverage ratio requirements.


Comments or questions should be submitted by July 25, 2014


[Applicable to banks]


Issued – June 2, 2014


Public Disclosure Requirements for Domestic Systemically Important Banks (D-SIBs) on Liquidity Coverage Ratio (LCR)


The draft guideline sets out the public disclosure requirements regarding the LCR for internationally active banks, which in the case of Canada, are those designated as Domestic Systemically Important Banks.



Comments or questions should be submitted by June 27, 2014




Financial Services Sectors