Since the financial crisis of 2008, the Office of the Superintendent of Financial Institutions has put significant effort into updating its expectations for strong corporate governance, including forming a special division to deal with corporate governance issues, updating its Corporate Governance Guideline and, last May, publishing an Advisory on Changes to the Board or Senior Management.
Of course, Canada has not been alone in these efforts and most jurisdictions around the world have been following suit. To help you keep up to date with current developments, Norton Rose Fulbright LLP has produced a comparative analysis of how senior management responsibility in banks is being treated in different jurisdictions around the world.
To view our analysis, click here.