Canada: Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of Observance
Electronic Access:
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Summary:
This Detailed Assessment report, a part of the 2013 Financial Sector Assessment Program (FSAP) of Canada, assesses Canada’s regulatory regime and supervisory practices against the international standards. The IMF report suggests that the Office of the Superintendent of Financial Institutions (OSFI) should be empowered to take supervisory measures at the level of the holding company. It highlights that while OSFI requires Federally Regulated Insurers (FRI) FRIs to develop internal capital targets, requirements to develop an Own Risk and Solvency Assessment are scheduled to be implemented in 2014.
Series:
Country Report No. 2014/072
Subject:
Capital adequacy requirements Corporate governance Economic sectors Financial institutions Financial regulation and supervision Insurance Insurance companies Legal support in revenue administration Revenue administration
English
Publication Date:
March 7, 2014
ISBN/ISSN:
9781475523652/1934-7685
Stock No:
1CANEA2014010
Pages:
147
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