The 2025 Annotated Bank Act with Associated Regulations is an essential everyday resource for anyone with an interest in the process for incorporating a bank, the rights of bank shareholders, the duties of bank directors and officers, the business of banking, consumer provisions, the ownership and investment rules, capital adequacy requirements, foreign banks, or bank holding companies.

Features include:

Summary of the latest legislative and regulatory developments under a separate chapter entitled Recent Developments
Overview of each part of the Bank Act under a separate chapter entitled Key Elements of the Bank Act
Full text of the Bank Act and all associated regulations
Comprehensive Table of Regulatory Guidance that cross-references all relevant sections of the Bank Act, and includes all OSFI guidelines, advisories, rulings, letters, and guidance notes; FCAC Commissioner's Guidance and Bulletins; and CBA voluntary codes of conduct
Comprehensive Table of Case Law, highlighting the latest cases for easy reference
Comprehensive Table of Concordance and Index, updated annually

Key Updates in 2025 Edition

Legislative and Regulatory Developments

Part II – Status and Powers

Entry into force of section 15.1, which requires authorized banks to establish and adhere to policies and procedures to protect themselves against threats to their integrity or security in relation to their business.

Part VI – Corporate Governance

Section 136 was amended to permit banks governed by the Act to hold certain meetings by virtual means without having to obtain a court order and to permit voting during those meetings by virtual means. (Not in force at time of publication)
Section 214.1 was added to require banks to make available information respecting diversity among directors and members of senior management. (Not in force at time of publication)

Part XII.1 – Authorized Foreign Banks

Entry into force of s. 524.3 which requires authorized foreign banks to establish and adhere to policies and procedures to protect themselves against threats to their integrity or security.

Part XV – Bank Holding Companies

Section 725 was amended to permit bank holding companies governed by the Act to hold certain meetings by virtual means without having to obtain a court order and to permit voting during those meetings by virtual means. (Not in force at time of publication)
Section 801.1 was added to require bank holding companies to make available information respecting diversity among directors and members of senior management. (Not in force at time of publication)

Budget Implementation Act, 2024, No. 1 – The Act introduced introduces legislation to establish a framework for consumer-driven banking (also known as open banking) that includes a new statute the Consumer-Driven Banking Act and proposes amendments to the Financial Consumer Agency of Canada Act to expand the Agency’s mandate.

Supervision - On April 1, 2024, OSFI's new framework for supervising federally regulated financial institutions came into effect. The framework refocuses the framework's risk based approach. The OSFI supervisory process involves: risk identification; assessing risks and assignment of ratings to each financial institution; responding to risks and the monitoring of remediation by financial institutions; and communicating the results of OSFI's supervision.

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The 2025 Annotated Bank Act with Associated Regulations

The 2025 Annotated Bank Act with Associated Regulations