Prescribed Supervisory Information

• 1 (1) For the purposes of section 503.1 of the Trust and Loan Companies Act and these Regulations, prescribed supervisory information in respect of a company is the following information or any component of that information:

  • (a) any rating assigned by the Superintendent to the 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 company under the Guide to Intervention for Federal Financial Institutions;

  • (c) any order made in respect of the company under subsection 473(3) of the Trust and Loan Companies Act, any prudential agreement entered into by the company under section 506.1 of that Act or any direction issued to it under section 507 of that Act;

  • (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 company, including any related correspondence to or from the directors or officers of the company;

  • (e) any assessment by the Superintendent of the company’s compliance with the standards of sound business and financial practices established by the Canada Deposit Insurance Corporation; and

  • (f) any category in which the company is classified under the Canada Deposit Insurance Corporation Differential Premiums By-law and any premium rate assigned to it and any annual premium determined for it under that By-law.

• (2) For the purposes of section 503.1 of the Trust and Loan Companies Act and these Regulations, prescribed supervisory information in respect of an affiliate of a company is the supervisory information prescribed by

  • (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 (Bank Holding Companies) Regulations, if the affiliate is a bank holding company to which the Bank Act applies; and

  • (f) the Supervisory Information (Insurance Holding Companies) Regulations, if the affiliate is an insurance holding company to which the Insurance Companies Act applies.

Prohibited Disclosure

2 Subject to sections 3 and 4, a company shall not, directly or indirectly, disclose prescribed supervisory information relating to it or to any of its affiliates.

Limited Disclosure

3 A company may disclose prescribed supervisory information referred to in section 2 to its affiliates or to its directors, officers, employees, auditors, securities underwriters or legal advisors, or to those of its affiliates, if the company ensures that the information remains confidential.

4 A company or any of its affiliates may disclose prescribed supervisory information referred to in paragraph 1(1)(c) if the 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.

Coming into Force

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