Is my financial institution safe? Can I obtain information about its profitability and rating?
In general, Canada enjoys one of the most advanced and well-administered financial systems in the world. However, if you have specific questions about the safety of your financial institution, we would be happy to direct you to an individual at the relevant institution who can address your specific questions. Because of the legislation governing OSFI's activities, we cannot discuss details of the financial condition of individual financial institutions.
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What is a federally regulated financial institution?
For OSFI, a federally regulated financial institution is any entity (public or private corporation, subsidiary, or branch) that has been created or allowed to offer financial services pursuant to one of the financial institution statutes proclaimed by the federal government. Banks, for example, are incorporated or registered under the Bank Act, while insurance companies — both life companies as well as property and casualty insurers - are incorporated or registered under the Insurance Companies Act. Both Acts specify a number of "dos and don'ts" that govern the activities of these institutions in the public interest.
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Where can I obtain the history / incorporation documents for a federally registered financial institution?
A written request should be sent to the attention of the Information Holdings Specialist, Office of the Superintendent of Financial Institutions, 255 Albert Street, Ottawa, Ontario, K1A 0H2. Telephone: (613) 990-9112. The request should be faxed to (613) 952-8219. Please note that a fee of $160.00 applies to such requests.
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