• Parties to Civil Litigation Can Be Required to Produce Confidential OSFI Filings
  • May 22, 2014 | Authors: Markus F. Kremer; Heather Pessione
  • Law Firm: Borden Ladner Gervais LLP - Toronto Office
  • On May 7, 2014, Justice Soldevila of the Superior Court of Quebec ruled on a motion to determine whether the statutory prohibition on the disclosure of information pursuant to sections 2 and 3 of the Supervisory Information (Insurance Companies) Regulations (the “Regulations”), made under the Insurance Companies Act, prevented the production of certain documents filed with the Office of the Superintendent of Financial Institutions (OSFI). OSFI regulates and supervises all banks in Canada, and all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations, fraternal benefit societies and private pension plans. OSFI is an independent, self-financing agency that reports to Parliament through the Minister of Finance.