OSFI’s New Security and Integrity Guideline 2024

OSFI’s New Security and Integrity Guideline 2024

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OSFI | Release | Feb 2, 2024

The Office of the Superintendent of Financial Institutions (OSFI) announced the release of its final Integrity and Security Guideline on January 31, 2024.

This guideline, developed after public consultation from October 13 to November 24, 2023, aims to strengthen the resilience of financial institutions against threats, including foreign interference, by outlining clear expectations for integrity and security practices.

Who is this guidance for? Banks, Cooperative Credit Associations, Foreign Bank Branches, Foreign Insurance Branches, Life Insurance and Fraternal Companies, Property and Casualty Companies, Trust and Loan Companies.

“Whether financial services firms/fintechs are regulated by OSFI or not, they should comply. It is the right thing to do.”

Highlighting the importance of financial institutions acting with integrity and ensuring security, Superintendent Peter Routledge emphasized that these measures are crucial for maintaining trust in Canada’s financial system.


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This step is part of OSFI’s expanded mandate, supported by new legislation, and complements existing guidance to help institutions enhance their stability and security.

Peter Routledge, Superintendent of Financial Institutions:

“Resilience and trust in the financial system depend upon the integrity and security of financial institutions. Contained within our integrity and security guideline are specific, practical measures that we expect financial institutions to implement for their protection. Though much work remains, this guideline serves as an important, initial step towards enhancing integrity and security in the financial system.”

Download the ‘Sound Business and Financial Practices’ Guideline –> here

NCFA Jan 2018 resize - OSFI's New Security and Integrity Guideline 2024

NCFA Jan 2018 resize - OSFI's New Security and Integrity Guideline 2024The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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