Nicholas Le Pan
Superintendent of Financial Institutions
Nicholas Le Pan was appointed to the position of Superintendent of Financial Institutions effective September 1, 2001, for a seven-year term.
Previously, he had been appointed Deputy Superintendent of Financial Institutions, Office of the Superintendent of Financial Institutions (OSFI), on May 1, 2000. He has also served the Office as Deputy Superintendent (Supervision) from 1997, in which capacity he was responsible for overseeing the Supervision programs for banks, other deposit-taking institutions, life and general insurers, and federally regulated private pension plans.
Mr. Le Pan joined OSFI as Deputy Superintendent (Policy) in 1995 and was responsible for OSFI's input into legislative development, preparation of regulations and guidelines, precedents, identification and analysis of emerging issues as well as various international and Canadian regulatory coordination efforts.
Before joining OSFI, Mr. Le Pan served in 1995 as Special Advisor to the Deputy Minister, Department of Finance, leading a task force that finalized a government white paper on the supervisory, deposit insurance and policyholder protection regime and pursuing legislative implementation of the proposals. He also served the department as its Assistant Deputy Minister, Financial Sector Policy Branch, led the 1992 review of financial institutions legislation, and was actively involved in international negotiations on financial services.
In December 2001, Mr. Le Pan was asked to lead the Accord Implementation Group (AIG) of the Basel Committee on Banking Supervision, Bank for International Settlements. In July 2003, he was appointed to the newly created position of Vice Chairman of the Basel Committee. Mr. Le Pan is also a member of the Auditing and Assurance Standards Oversight Committee (AASOC) and the Council of Governors of the Canadian Public Accountability Board (CPAB).
Mr. Le Pan received a Bachelor of Arts degree (Honours) in Economics from Carleton University and a Master of Arts degree in Economics from the University of Toronto.
Office of the Superintendent of Financial Institutions (OSFI)
Created in 1987 by an Act of Parliament, OSFI has a mandate to safeguard depositors, policyholders and pension plan members from undue loss, and to advance and administer a regulatory framework that contributes to public confidence in a competitive financial system.
Revised: March 2004