Supervisory Information (Trust and Loan Companies) Regulations

The Supervisory Information (Trust and Loan Companies) Regulations were made by Her Excellency the Governor General in Council, pursuant to section 503.1 of the Trust and Loan Companies Act, on January 30, 2001. The regulations prescribe supervisory information for companies under the Trust and Loan Companies Act.

According to the regulations, prescribed supervisory information includes any rating assigned by the Superintendent, stages of intervention, orders made in respect of the company, reports prepared by or at the request of the Superintendent, and any category in which the company is classified. This information applies to the company itself as well as its affiliates, including banks, authorized foreign banks, cooperative credit associations, insurance companies, bank holding companies, and insurance holding companies.

The regulations also outline specific provisions for disclosure of this information, with prohibited disclosure being the general disclosure of supervisory information to anyone outside the company. However, limited disclosure is allowed under certain circumstances, such as when sharing information with affiliates or directors, officers, employees, auditors, securities underwriters, or legal advisors. Additionally, material facts or changes that require disclosure under relevant securities laws can be disclosed.

The regulations come into force on January 30, 2001, the day they are registered.