Federal financial regulator OSFI still hasn't released 2026–27 departmental plan, six months after government deadline

The Office of the Superintendent of Financial Institutions has not released its departmental plan for 2026–27, despite the government tabling documents for all 91 other departments and agencies on March 13. The delay is now six months past the typical March 31 deadline and comes as Ottawa moves forward with a public service spending review.

Departmental plans describe each federal organization's priorities, programs, and resource needs over a three-year period and are considered key transparency documents for understanding government spending. Treasury Board Secretary Bill Matthews told a House of Commons committee in March that the plans were "absolutely a key document to understanding the requests made by each department" and would be tabled "in the coming days."

OSFI spokesperson Scott McLarens said in March the plan was "not yet available" but "expected to be released in the coming weeks." In May, spokesperson Cory Harding said the agency had "nothing to add." When asked for a specific release date, McLarens responded: "we are waiting for the tabling in Parliament to be scheduled and cannot offer more information." Parliament rose for summer break June 18 and returns for fall sitting September 21.

On September 16, Marie-France Faucher, Department of Finance spokesperson, stated: "OSFI remains compliant with its reporting obligations. With the House set to resume next week, tabling will once again be possible. OSFI's 2026–27 Departmental Plan will therefore be tabled in due course."

OSFI regulates and supervises more than 350 financial institutions and 1,200 private pension plans for employees in federally regulated industries. The regulator was spared from the broader public service spending review but committed to cutting 82 positions by March 31, 2027. Treasury Board data updated in June showed OSFI's headcount dropped by 65 employees from 1,256 in 2025 to 1,191 in 2026.