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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 source

Scope

Policy Area
Data governance
Policy Instrument
Cybersecurity regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
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…