## Canada: Report on the Observance of Standards and Codes

_IMF Staff Country Reports, February 3, 2014_

## Source details

**Canonical URL:** [Canada: Report on the Observance of Standards and Codes](https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300/bundle-manifest.json)

## Bibliographic details
- Published: February 3, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781616359492.002

---

### Key findings
- Canada has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision.
- The Canadian banking supervisor (OSFI) has developed and is a strong proponent of risk-based, proportionate, supervisory practices.
- OSFI applies a “close touch” approach to its supervised entities.
- The supervisory approach is well structured, forward looking and maintained on as dynamic a basis as possible.
- Entry to the Canadian market is subject to demanding prudential entry standards.

### Supervisory approach and practices
- Risk-based, proportionate supervision is the central framework promoted by OSFI.
- A “close touch” supervisory stance is applied to supervised entities, reflecting the structure and challenges of Canada’s market.
- Emphasis on maintaining a forward-looking and dynamic supervisory framework.

### Regulatory perimeter and market entry
- Prudential entry standards for the Canadian market are demanding, serving as a key element of the overall supervisory framework.

### Thematic coverage
- Subjects addressed: Banking, Basel Core Principles, Financial institutions, Financial regulation and supervision, Insurance, Insurance companies, Legal support in revenue administration, Revenue administration, Securities.
- Keywords included in the source: Basel Core Principles, CR, due diligence, financial market, Global, hedge fund, holding company, Insurance, Insurance companies, ISCR, Legal support in revenue administration, OSFI supervisor, risk management, Securities, securities regulator.

*Source: Canada: Report on the Observance of Standards and Codes (IMF Staff Country Reports).*

---

## Content in this bundle

- **Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014**
  - [Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr1430.pdf.md){rel="alternate" type="text/markdown"}
  - [Canada: Report on the Observance of Standards and Codes; IMF Country Report 14/30; January 2014 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr1430.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-report-on-the-observance-of-standards-and-codes-41300_