Canada: Implemented OSFI Guideline B-13 on Technology and Cyber Risk Management
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Description
Implemented OSFI Guideline B-13 on Technology and Cyber Risk Management
On 1 January 2024, Guideline B-13 on Technology and Cyber Risk Management issued by the Canadian Office of the Superintendent of Financial Institutions (OSFI) is implemented. Guideline B-13 sets out OSFI's requirements on how federally-regulated financial institutions should manage technology and cybersecurity, including risks such as data breaches. The Guideline outlines three main areas for risk management, namely governance and risk management, technology operations and resilience, and cyber security.
Original sourceScope
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
Hide details
2020-09-15
in consultation
2020-12-15
processing consultation
2021-11-09
in consultation
2022-02-09
processing consultation
2022-07-13
adopted