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News and discussion on implementing risk management

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Office of the Superintendent of Financial Institutions

OSFI issues advisory on use of words “bank”, “banker”, “banking”

On June 30, 2017, the Office of the Superintendent of Financial Institutions (“OSFI”) issued Advisory 2017-01 (the “Advisory”) providing additional guidance on its interpretation of the limitations in the Bank Act (Canada) (the “Bank Act”) on the uses of the words “bank”, “banker” and “banking” and related exceptions.

 

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