The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments, although this information is tracked by BLG and can be provided on request. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered.
April 2015
Institution |
Published |
Title and Brief Summary |
Status |
Finance |
Published (Gazette) – April 22, 2015 |
SOR/2015-75 Canada Deposit Insurance Corporation Differential
Premiums By-law – By-law Amending A further substantive change is being made to the percentage of the maximum premium rate to be paid by member institutions assigned to the various categories. The change ensures that premium rate increases announced by the CDIC in its corporate plan do not breach the maximum premium rate chargeable under the CDIC Act.
|
In Force April 1, 2015 |
BIS/Basel |
Issued April 21, 2015 |
Basel Committee removes selected national
discretions In addition, the Committee notes that the national discretion related to the internal ratings-based (IRB) approach treatment of equity exposures (paragraph 267) will expire in 2016, as the discretion was to apply for a maximum of 10 years from the publication of the Basel II framework. |
Effective |
CPA |
Issued April 20, 2015 |
Changes to rules and standards The CPA Board of Directors approved multiple amendments to the Automated Clearing Settlement System (ACSS) rules at its February 18, 2015 meeting:
Amendments to elaborate on exchange timeand settlement process for Image CapturedPayment (ICP) Files that are exchanged on anational basis. Amendments to update the process for submitting Deposit Advice Forms for Government of Canada remittances. Standard 006 – Specifications for MICR-Encoded Payment ItemsAmendments to adjust mandatory wording for serial numbers. |
Effective |
Finance |
Published April 13, 2015 |
Code of Conduct for the Credit and Debit Card Industry in Canada Following consultations with stakeholders, these new changes will make the Code even stronger by addressing unfair business practices and improving transparency for merchants and consumers, including new provisions that apply specifically to mobile payments. |
Effective |
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