Office des services financiers du Manitoba
Plan stratégique de 2022 à 2025
Introduction
L’Office des services financiers du Manitoba (l’« OSFM ») est l’organisme de service spécial du Manitoba chargé de l’application des lois dans les secteurs suivants :
- Valeurs mobilières et contrats à terme de marchandises
- Assurance
- Immobilier et hypothèques
- Caisses populaires et credit unions
- Sociétés de fiducie et de prêt
L’OSFM se compose de deux divisions : la Commission des valeurs mobilières du Manitoba et la Direction de la réglementation des institutions financières. Par ailleurs, l’OSFM mène actuellement des travaux visant à intégrer à ses activités le Bureau du surintendant – Commission manitobaine des pensions.
Mission de l’OSFM :
L’OSFM cherche à améliorer l’avenir financier de l’ensemble des Manitobains grâce à une réglementation adaptée qui favorise l’équité, l’honnêteté et la transparence dans les secteurs des services financiers, des pensions et de l’immobilier au Manitoba.
Vision de l’OSFM :
Des secteurs des services financiers, des pensions et de l’immobilier forts et équitables avantageux pour les professionnels et la population en général grâce au soutien de l’OSFM.
Priorités pour les années de 2022 à 2025
The MFSA operates in a rapidly changing environment and its goal is to respond proactively to the challenges these changes bring. In doing so, it coordinates with its counterparts in other jurisdictions, particularly through the Canadian Securities Administrators (CSA), the Canadian Council of Insurance Regulators (CCIR), the Canadian Insurance Services Regulatory Organizations (CISRO), the Real Estate Regulators of Canada (RERC), the Mortgage Brokers Regulators Council of Canada (MBRCC), the Canadian Association of Pension Supervisory Authorities (CAPSA), the Credit Union Prudential Supervisors Association (CUPSA) and the National Pension Compliance Officers Association (NPCOA). The key challenges are:
- Adaptation aux transformations à l’échelle mondiale
Alors que les marchés mondiaux sont de plus en plus interconnectés et que de nouveaux produits et services font leur apparition, entre autres les cryptomonnaies et les services financiers décentralisés, une réponse coordonnée devient essentielle pour répondre aux nouvelles préoccupations et faire face aux risques émergents ou grandissants.
- Renforcement de la protection des investisseurs
L’OSFM continue de renforcer la protection des investisseurs contre les pratiques frauduleuses, manipulatrices et trompeuses en améliorant ses mécanismes de contrôle et d’application des lois, en veillant au respect des exigences d’information et d’inscription et en sensibilisant les investisseurs.
- Traitement des enjeux à l’échelle locale
La plupart des marchés que l’OSFM supervise ont une portée nationale ou internationale, mais tous comportent des éléments et des réalités qui leur sont propres à l’échelle locale. C’est particulièrement le cas des secteurs de l’immobilier, des caisses populaires et credit unions, qui sont essentiellement ancrés au Manitoba. L’OSFM accorde donc une attention particulière aux préoccupations et enjeux locaux.
- Monitoring Emerging Trends
L’OSFM continue de suivre les tendances émergentes dans les secteurs qu’il réglemente.
Pour relever ces défis, l’OSFM a défini quatre objectifs stratégiques à atteindre entre 2022 et 2025 :
- Renforcer la protection des investisseurs et des consommateurs
- Renforcer le cadre de réglementation;
- Poursuivre les efforts d’harmonisation du cadre de réglementation avec celui des autres provinces et territoires, le cas échéant;
- Améliorer l’efficacité des mesures mises en place.
- Renforcer la protection des investisseurs et des consommateurs
Contexte
L’un des volets importants du mandat de l’OSFM consiste à informer les consommateurs et les investisseurs et à les sensibiliser aux questions liées aux secteurs relevant de sa réglementation.
Actions:
- continue the development and updating of educational programs targeted at consumers and the investing public, with a focus on emerging market trends, fraud and financial abuse
- continue existing relationships and identify new opportunities to connect with external groups for outreach to the public, such as the Indigenous community and newcomers to Canada, either for one time educational events or ongoing partnerships
- complete the development and adoption of updated offers to purchase for single family residences and condominiums
- create a plain language disclosure document supporting the new Offers to Purchase for single family residences and condominiums
Contexte
Lorsqu’un problème survient relativement aux produits ou services fournis par un intermédiaire financier, il est important que les préoccupations du client soient prises en compte et réglées de manière juste et raisonnable.
Actions:
- review the complaint handling process used by the Manitoba Insurance Council and the Office of the Superintendent- Pension Commission
- examine the advisability of developing a Market Conduct requirement for credit unions and the caisse populaire in their dealings with consumers and their response to complaints
- Renforcer le cadre de réglementation au Manitoba
Contexte
The Agency operates in an evolving financial services environment that requires a regulatory approach that is risk based and which minimizes overlap and duplication.
Actions:
- complete the implementation of the updated oversight process for the credit union and caisses populaires system, including developing a compliance review program for Deposit Guarantee Corporation of Manitoba drawing on the existing compliance program for self regulatory organizations in the securities industry
- develop a compliance review program for provincially regulated insurance companies drawing on the compliance program for Manitoba securities registrants
- review and update the existing compliance review program for real estate and mortgage brokers drawing on the compliance program for Manitoba securities registrants
- review the current compliance review program for pension plans drawing on the compliance program for Manitoba securities registrants and increase the frequency of pension plan reviews
- update the existing Delegation and Protocol Agreement with the Insurance Council of Manitoba
Contexte
While the MFSA has distinct and separate areas of oversight, there are common issues and responsibilities that can draw on expertise developed by other groups within the MFSA.
Action:
- investigate opportunities for increased collaboration between the investigation, real estate compliance, pension plan regulation and securities compliance areas
Contexte
The current Loi sur les contrats à terme de marchandises was originally enacted in 1996 and has not been reviewed and updated since then to reflect subsequent developments.
Action:
- conduct a review of Loi sur les contrats à terme de marchandises (Manitoba) with regard to the legislation in other Canadian jurisdictions with a view to putting forward a proposal to the government for legislation updating or replacing the current statute
Contexte
Ontario and Saskatchewan have adopted legislation regulating the use of the “financial planner” and “financial advisor” titles and other jurisdictions are considering doing so. Submissions have been made to the government to do so in Manitoba as well.
Action:
- monitor developments on the adoption of financial planners title protection legislation in other Canadian jurisdictions with a view to consulting on the advisability of adopting it in Manitoba
- Continued regulatory consultation and harmonization with other jurisdictions
Contexte
The Commission operates in most areas on a harmonized basis with other provincial and territorial jurisdictions through the CSA.
Actions:
- continue to contribute to key CSA projects, including the environmental, social and governance initiative regarding climate change disclosure, expanded disclosure regarding diversity, liquidity risk management in investment funds and the modernization of the continuous disclosure regime
- continue to lead the CSA initiative regarding client facing registrant titles
- continue to actively participate in the CSA sandbox committee and the CSA cryptocurrency task force
- continue its full participation in the CSA’s self regulatory organization consolidation project
Contexte
The Financial Institutions Regulation Branch, the Real Estate area and the Office of the Superintendent- Pension Commission participate in national organizations that provide a forum for discussing issues of common interest and sharing information.
Action:
- continue the MFSA’s participation in CCIR, CISRO, REAC, MBRCC, CAPSA, CUPSA and NPCOA
- Carry out MFSA’s operations in a more efficient and responsive manner
Contexte
It is important that the MFSA continue to identify opportunities to conduct its operations in a more effective manner that is responsive to the industries it regulates and to the public.
Actions:
- implement the local aspects of SEDAR+, including updating the Poller system and any other interfaces
- update the Manitoba Securities Commission prehearing policy and consider adopting it as a formal Commission rule
- obtain and implement case management software to manage the investigation and enforcement process from receiving the initial complaint through the completion of any resulting hearings
- establish monitoring process for progress of investigations and hearings and adopt targets for the initiation and completion of enforcement proceedings
- establish benchmarks for conducting compliance reviews and a process for monitoring the progress and completion of these reviews
- complete the project to install technology to facilitate conducting hearings through electronic means
- complete the project to install video taping technology for conducting interviews in investigations
- review and assess the capabilities of the Pension Benefits Information System and its ability to meet all current and future requirements
Contexte
The MFSA’s mandate has recently been expanded to include the administration of the Pension Benefits Act.
Action:
- integrate the Office of the Superintendent- Pension Commission and its personnel into the MFSA
Contexte
MFSA personnel interact with the public, industry, other regulators and government officials on an ongoing basis and have an obligation to do so on a responsive and professional basis.
Action:
- establish standards for responses by staff to inquiries from industry and the public
Contexte
The MFSA does not have unlimited resources and changes in staffing in individual areas occurs on a regular basis, due to resignations or retirements and it is important that it be able to carry on its operations despite these changes.
Actions:
- establish succession plans for all areas
- document policies and procedures for each area for their operations
- pursue cross training opportunities across MFSA
- identify and encourage educational opportunities on the part of MFSA staff
Contexte
MFSA staff receive inquiries from industry and the public through emails and telephone calls that often cover similar topics or which may indicate trends.
Action:
- investigate methods to track inquiries across the MFSA, including examining whether the existing Pension Commission system is a potential solution
Contexte
The MFSA’s website is the primary means by which it communicates with the public and industry.
Actions:
- complete modernization of MFSA website including the incorporation of information related to the Office of the Superintendent- Pension Commission
- develop a manual for the maintenance of the website on an ongoing basis