Interventions in Committee
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Judy Cameron
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Judy Cameron
2019-07-15 15:35
I'll take that question.
I represent the Office of the Superintendent of Financial Institutions. Our mandate is to supervise financial institutions and set rules for them so as to protect the interests of depositors and creditors. Broadly speaking we're looking at safety and soundness, but we also make sure they comply with all federal rules. For example, we expect them to have systems in place to comply with privacy laws.
We set expectations around what institutions should be doing, such as complying with privacy laws. We also expect them to do cyber self-assessments to assess their own internal protections against cyber events. Then we supervise them to make sure they are complying with the expectations we have set out to make sure that they have good compliance management systems in place.
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