Supervisory Information (Authorized Foreign Banks) Regulations (SOR/2001-58)

Regulations are current to 2019-06-20 and last amended on 2011-09-22. Previous Versions

Supervisory Information (Authorized Foreign Banks) Regulations

SOR/2001-58

BANK ACT

Registration 2001-01-30

Supervisory Information (Authorized Foreign Banks) Regulations

P.C. 2001-139 2001-01-30

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 607Footnote a and paragraph 668(a)Footnote b of the Bank ActFootnote c, hereby makes the annexed Supervisory Information (Authorized Foreign Banks) Regulations.

Prescribed Supervisory Information

  • SOR/2001-479, s. 1
  • SOR/2011-196, s. 1

Prohibited Disclosure

 Subject to sections 3 and 4, an authorized foreign bank shall not, directly or indirectly, disclose information referred to in section 1.

  • SOR/2011-196, s. 2

Limited Disclosure

 An authorized foreign bank 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 authorized foreign bank ensures that the information remains confidential.

  • SOR/2011-196, s. 2

 An authorized foreign bank or any of its affiliates may disclose information referred to in paragraph 1(1)(c) if the authorized foreign bank 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. 3(E)

Coming into Force

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

 
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