The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada. It is responsible for regulating and supervising banks, insurance companies, and pension plans to ensure their safety and soundness. OSFI's main goal is to protect the interests of depositors, policyholders, and pension plan members. OSFI also promotes financial stability in the Canadian financial system. It sets guidelines and standards for financial institutions and conducts regular assessments to ensure compliance. By doing so, OSFI helps maintain public confidence in the financial system and supports the overall economy of Canada.