SOR/2001-480200111

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20196

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BANK ACTSupervisory Information (Bank Holding Companies) RegulationsP.C.2001-2024200111

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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 956a and 978a of the Bank Actb, hereby makes the annexed Supervisory Information (Bank Holding Companies) Regulations.aS.C. 2001, c. 9, s. 183bS.C. 1991, c. 46Supervisory Information

1(1)For the purposes of section 956 of the Bank Act, the following information or any component of that information is prescribed supervisory information in relation to a bank holding company:(a)any rating assigned by the Superintendent to the bank holding company to assess its financial condition and any other such rating that is substantially based on information obtained from the Superintendent;(b)any stage of intervention assigned to the bank holding company on the basis of the principles set out in the Guide to Intervention for Federal Financial Institutions;(c)any order made in respect of the bank holding company under subsection 949(3) of the Bank Act, any prudential agreement entered into by the bank holding company under section 959 of that Act or any direction issued to it under section 960 of that Act; and(d)any report prepared by or at the request of the Superintendent or any recommendation made by the Superintendent as a result of an annual or special examination or other supervisory review of the bank holding company, including any related correspondence to or from the directors or officers of the bank holding company.(2)For the purposes of section 956 of the Bank Act, the information prescribed by the following regulations is prescribed supervisory information in relation to an affiliate of a bank holding company:(a)the Supervisory Information (Banks) Regulations, if the affiliate is a bank to which the Bank Act applies;(b)the Supervisory Information (Authorized Foreign Banks) Regulations, if the affiliate is an authorized foreign bank to which the Bank Act applies;(c)the Supervisory Information (Cooperative Credit Associations) Regulations, if the affiliate is an association to which the Cooperative Credit Associations Act applies;(d)the Supervisory Information (Insurance Companies) Regulations, if the affiliate is a company, society, foreign company or provincial company to which the Insurance Companies Act applies;(e)the Supervisory Information (Insurance Holding Companies) Regulations, if the affiliate is an insurance holding company to which the Insurance Companies Act applies; and(f)the Supervisory Information (Trust and Loan Companies) Regulations, if the affiliate is a company to which the Trust and Loan Companies Act applies.SOR/2011-196, s. 9

Prohibited Disclosure

2Subject to sections 3 and 4, a bank holding company shall not, directly or indirectly, disclose information referred to in section 1.SOR/2011-196, s. 10

Limited Disclosure

3A bank holding company may disclose information referred to in section 1 to its affiliates or to its directors, officers, employees, auditors, securities underwriters or legal advisors, or to those of its affiliates, if the bank holding company ensures that the information remains confidential.SOR/2011-196, s. 10

4A bank holding company or any of its affiliates may disclose information referred to in paragraph 1(1)(c) if the bank holding company or affiliate considers the information to contain a material fact or material change that is required by the securities laws of the relevant jurisdiction to be disclosed.SOR/2011-196, s. 11(E)

Coming into Force

5These Regulations come into force on the day on which they are registered.