Canada Adopts the Extended UMR Timeline

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The OSFI in Canada has publishing ruling E22 setting out their adoption of the extended Phase 5 and 6 of UMR.   

  • If your firm exceeds CAD 75bn AANA then IM will apply from 1st Sept 2020
  • If your firms exceed CAD 12bn AANA then IM will apply from 1st Sept 2021

Time to update your compliance plans.

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