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Description

Opened OSFI consultation on draft Guideline B13 on Technology and Cyber Risk Management

On 9 November 2021, the Canadian Office of the Superintendent of Financial Institutions (OSFI) released and opened a consultation on its draft Guideline B-13 on Technology and Cyber Risk Management until 9 February 2022. The draft Guideline sets out the applicable technology and cyber risk management expectations for all financial institutions subject to OSFI oversight. The Guidance addresses best practices across five distinct domains of governance and risk management, technology operations, cybersecurity, outsourcing and third-party technology, and technology resilience. The draft is based on the results of a previous consultation from September to December 2020 on OSFI's discussion paper titled “Developing Financial Sector Resilience in a Digital World”.

Original source

Scope

Policy Area
Data governance
Policy Instrument
Cybersecurity regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), other service provider
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2020-09-15
in consultation

On 15 September 2020, the Canadian Office of the Superintendent of Financial Institutions (OSFI) pu…

2020-12-15
processing consultation

On 15 December 2020, the Canadian Office of the Superintendent of Financial Institutions (OSFI) clo…

2021-11-09
in consultation

On 9 November 2021, the Canadian Office of the Superintendent of Financial Institutions (OSFI) rele…

2022-02-09
processing consultation

On 9 February 2022, the Canadian Office of the Superintendent of Financial Institutions (OSFI) clos…

2022-07-13
adopted

On 13 July 2022, the Canadian Office of the Superintendent of Financial Institutions (OSFI) release…

2024-01-01
in force

On 1 January 2024, Guideline B-13 on Technology and Cyber Risk Management issued by the Canadian Of…