Forward Regulatory Plan: 2016-2018

Regulatory Initiative: Possible amendments to the Canada Deposit Insurance Corporation Joint and Trust Disclosure By-law and the Canada Deposit Insurance Corporation Data and System Requirements By-law – Forward Regulatory Plan 2016-2018

Title or working title of the regulatory initiative:
Possible amendments to the Canada Deposit Insurance Corporation Joint and Trust Disclosure By-law and Canada Deposit Insurance Corporation Data and System Requirements By-law

Description of the objective:
CDIC is assessing what By-law amendments are necessary to help address the complexity of trust deposits. Amendments may be proposed to the Canada Deposit Insurance Corporation Joint and Trust Disclosure By-law and the Canada Deposit Insurance Corporation Data and System Requirements By-law.

The By-law Amending the Canada Deposit Insurance Corporation Joint and Trust Disclosure By-law and the By-law Amending the Canada Deposit Insurance Corporation Data and System Requirements By-law would be made pursuant to subsection 11(2) and paragraphs 11(2)(f.1) and 11(2)(f.2) of the Canada Deposit Insurance Corporation Act.

Indication of business impacts:
There will be business impacts on members of the Canada Deposit Insurance Corporation.

Public consultation opportunities:
On September 16, 2016 the Government launched consultations pursuant to its commitment to maintaining a well-functioning deposit insurance framework. The consultations highlighted the need to address complexity of trust deposits. The comment period will end on November 30, 2016. The consultation paper can be found at the following link.  

Following the public consultation, CDIC will develop amending by-laws as appropriate. Interested stakeholders will have an opportunity to review and comment on the proposed amendments when the By-law Amending the Canada Deposit Insurance Corporation Joint and Trust Disclosure By-law and the By-law Amending the Canada Deposit Insurance Corporation Data and System Requirements By-law are pre-published in the Canada Gazette, Part I.

Departmental contact:
Emiel J. van der Velden
Director, Insurance, Insurance and Risk Assessment
Canada Deposit Insurance Corporation
50 O’Connor St, 17th Floor
Ottawa, Ontario K1P 6L2
613.943.2773
evandervelden@cdic.ca

Proposed Regulatory Initiatives