Canadian Financial Institutions

Canada’s banks and insurance companies are recognized internationally for their financial stability. Canada’s risk based regulatory regime, ensuring a prudent approach, stands as a model to other countries. Canadian financial institutions are subject to a wide assortment of regulatory requirements. Ensuring company-wide compliance to these requirements is complex, and time consuming.

CRSTL Solutions can help you smoothly transition into a complete compliance solution, one that ensures full compliance with all regulatory requirements and that is easily administered through our powerful workflow software, the Compliance Positioning System (CPS).

Our workflow solution is designed specifically for your compliance needs. Legal requirements are analyzed by our expert content development team for each type of regulated entity. We distill specific compliance requirements and allocate individual responsibility for them throughout your organization in the form of plain-English synopses and questionnaires.

Guideline E-13

Guideline E-13 conveys the expectations of the Office of the Superintendent of Financial Institutions (OSFI) in respect of the controls through which Federally Regulated Financial Institutions (FRFIs) must manage legislative and regulatory risk. OSFI has mandated that all FRFIs have in place an effective Legislative Compliance Management (LCM) process by which they can satisfy both themselves and OSFI that they have complied with governing laws, regulations and guidelines. Issues that OSFI expects FRFIs to address include:

The specific regulations governing these fields are constantly changing and trends toward more complex regulatory regimes. CRSTL currently assists federally regulated financial institutions, including property and casualty insurers, life insurers, trust and loans companies, schedule I and II banks, and foreign bank branches, in meeting their compliance obligations and in demonstrating their compliance efforts to OSFI.

To see the cost benefits of using CRSTL's legal databases and workflow solution, take a moment to calculate your Return On Investment with our ROI Calculator.