OSFI AND THIRD-PARTY RISK MANAGEMENT
OSFI has been working through revisions to Guideline B-10: Third-Party Risk Management, which will be a more fulsome guideline than the current version as it contemplates the expanded and complex outsourced ecosystem of third parties relied upon by Federally Regulated Financial Institutions. OSFI has been hosting industry consultations and has extended the comment period to September 30, 2022. IIAC does not intend to comment, but believes it includes useful information for its Membership, including the summary of a study on the matter that was conducted by OSFI. A comprehensive summary by Bennet Jones is also available here.