The Office of the Superintendent of Bankruptcy (OSB) has published its Compliance Promotion Framework on its website.
As noted at the 2021 CAIRP webinar and Annual General Meeting and as indicated in the OSB 2021-2022 Business plan, the OSB is increasing its focus on compliance promotion and a risk-based approach to LIT compliance.
Compliance promotion is an effective means to increase stakeholder awareness and understanding of regulatory requirements with the objective of increasing voluntary compliance and achieving more efficient compliance outcomes. We encourage LITs to review the OSB's Compliance Promotion Framework.
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