October 16, 2024
Publication date: December 12, 2023
Last updated: October 31, 2024
Access all supervisory policies and guidelines on registration, supervision and enforcement related to the Retail Payment Activities Act and the Retail Payment Activities Regulations.
We develop supervisory policies and guidelines to help payment service providers (PSPs) understand their obligations and how we will supervise them under the Retail Payment Activities Act (RPAA) and the Retail Payment Activities Regulations (RPAR).
- Supervisory policies are documents that clarify what we will do to carry out our supervisory role, including registration and enforcement activities.
- Supervisory guidelines are documents that clarify the standards and practices we expect PSPs to incorporate into their business operations to meet risk management requirements. We may conduct consultations on our guidelines to gather input and feedback on these supervisory expectations.
For more terminology about retail payment supervision, refer to the glossary.
To help individuals or entities assess whether they could be subject to the Retail Payment Activities Act, use our self-assessment tool.
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result(s)
October 16, 2024
This supervisory policy provides an overview of annual reporting requirements and clarifies how the Bank of Canada expects payment service providers to comply with those requirements.
Annual reporting
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Reporting,
Supervision
October 16, 2024
This supervisory guideline explains the significant change and new activity notice requirements applicable to payment service providers subject to the Retail Payment Activities Act and provides clarity on how the Bank expects payment service providers to comply with them.
Notice of significant change or new activity
Content Type(s):
Retail payments supervision materials,
Supervisory guidelines
Topic(s):
Reporting,
Supervision
October 16, 2024
This supervisory guideline explains the incident reporting requirements applicable to payment service providers subject to the Retail Payment Activities Act and provides clarity on how the Bank expects payment service providers to comply with them.
Incident notification
Content Type(s):
Retail payments supervision materials,
Supervisory guidelines
Topic(s):
Reporting,
Supervision
October 16, 2024
This supervisory guideline is intended to help payment service providers subject to the Retail Payment Activities Act comply with their obligations related to the identification and mitigation of their operational risks as well as their response to incidents.
Operational risk and incident response
Content Type(s):
Retail payments supervision materials,
Supervisory guidelines
Topic(s):
Supervision
June 17, 2024
This supervisory policy provides an overview of what the Bank of Canada will consider when determining whether a “significant adverse impact” is occurring or has occurred.
Significant adverse impact
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Enforcement,
Supervision
June 17, 2024
This supervisory policy outlines the roles of the Executive Director of Payments, Supervision and Oversight and the Managing Director of Supervision. It also describes their responsibilities related to the Bank of Canada’s retail payments supervision mandate.
Roles and Responsibilities of the Executive Director and Managing Director
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Enforcement,
Registration,
Supervision
April 17, 2024
This supervisory policy provides an explanation of the prescribed supervisory information provisions and sets out the Bank of Canada’s expectations for payments service providers’ compliance with non-disclosure requirements related to prescribed supervisory information under subsection 64(1) of the Retail Payment Activities Act and sections 37 to 38 of the Retail Payment Activities Regulations.
Prescribed supervisory information
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Supervision
April 17, 2024
This supervisory policy outlines what records payment service providers should keep and retain to comply with their record-keeping obligations under the Retail Payment Activities Act and the Retail Payment Activities Regulations.
Record keeping
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Supervision
February 21, 2024
This draft supervisory guideline is intended to help payment service providers subject to the Retail Payment Activities Act meet their obligations related to safeguarding end-user funds.
Safeguarding end-user funds
Content Type(s):
Retail payments supervision materials,
Supervisory guidelines
Topic(s):
Supervision