What it means to be regulated
A key element to a strong and resilient financial industry is regulation. We watch for issues that may have a negative impact on federally regulated financial institutions or pension plans, and could affect depositors, policyholders, and creditors of financial institutions or pension plan members or beneficiaries. Then we intervene when needed.
How we regulate
We regulate financial institutions and pension plans by:
- Developing guidance and expectations in various areas of risk
- Interpreting applicable legislation and regulations
- Contributing to regulatory approvals for certain types of transactions (such as amalgamations and acquisitions)
- Contributing to new accounting, auditing and actuarial standards
We supervise financial institutions to determine whether they’re in sound financial condition and complying with applicable legislation, regulations, and supervisory requirements. We strive to protect the rights and interests of depositors, policyholders, and creditors of financial institutions, while recognizing the need to allow financial institutions to compete effectively and take reasonable risks.
We supervise pension plans to determine whether they meet the minimum funding requirements and are complying with other requirements under applicable legislation. We strive to protect the rights and interests of members of pension plans and anyone entitled to benefits under pension plans.
What we regulate
We’re responsible for regulating:
- all banks in Canada
- trust and loan companies
- insurance companies
- fraternal benefit societies
- private pension plans for employees working in federally regulated areas of employment (such as banking, telecommunications, interprovincial transportation, and air transportation)
Visit Who we regulate for a list of organizations we regulate.
What isn’t included in our regulation
Other federal and provincial agencies look after regulating:
- consumer or consumer-related issues
- the securities sector
We also don’t manage the operations of financial institutions or pension plans.