Supervisory Information (Insurance Holding Companies) Regulations

The Supervisory Information (Insurance Holding Companies) Regulations were created by Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance. These regulations implement provisions related to insurance holding companies under the Insurance Companies Act.

For an insurance holding company, supervisory information includes various ratings assigned by the Superintendent, stages of intervention based on specific principles, orders and directions made by the regulator, as well as reports prepared by the Superintendent. Additionally, for affiliates of these companies, supervisory information is prescribed under different regulations that apply to banks, foreign banks, bank holding companies, cooperative credit associations, insurance companies, and trust and loan companies.

The regulations outline prohibited disclosure requirements, allowing certain entities, such as affiliates or directors, officers, employees, auditors, securities underwriters, or legal advisors, access to confidential information. However, certain disclosures are permitted if the information contains material facts or changes required by securities laws in specific jurisdictions.

These Regulations come into force on the day of registration.