KOHO Seeks Bank Charter; Insurers and TSX Notices

Summary#

This Gazette page contains three short corporate notices.

• 15391326 Canada Inc. (a subsidiary of KOHO Financial Inc.) says it will apply to become a Schedule I bank called KOHO Bank / Banque KOHO. Objections are due by April 27, 2026.
• Three insurers — Canadian Northern Shield Insurance Company, Trafalgar Insurance Company of Canada, and Unifund Assurance Company — say they will apply on or after April 13, 2026 to continue under the Canada Business Corporations Act.
• TSX Trust Company intends to ask for approval to reduce its stated capital by up to $15 million under the Trust and Loan Companies Act (Canada).

What it does#

• 15391326 Canada Inc. / KOHO Bank

  • Announces an application to the Office of the Superintendent of Financial Institutions for the Minister of Finance to issue letters patent continuing the company as a Schedule I bank under the Bank Act and the name KOHO Bank / Banque KOHO.
  • Invites written objections to be sent to Office of the Superintendent of Financial Institutions (OSFI) by April 27, 2026.

• Canadian Northern Shield Insurance Company, Trafalgar Insurance Company of Canada, Unifund Assurance Company

  • Each plans to apply to the Minister of Finance, on or after April 13, 2026, for approval to apply for a certificate of continuance under the Canada Business Corporations Act.
  • Boards may withdraw those applications before they are acted on.

• TSX Trust Company

  • Intends to apply for approval to reduce the stated capital of its common shares by up to $15 million, following a special resolution passed by its sole shareholder on March 10, 2026.
  • The reduced amount would be distributed to the sole shareholder if approved.

Who's affected#

• KOHO Financial Inc. customers and users could notice changes if the bank continuance is approved. Banking regulators and competitors will be involved. It is not yet approved.
• Customers, policyholders, shareholders, and employees of Canadian Northern Shield Insurance Company, Trafalgar Insurance Company of Canada, and Unifund Assurance Company might be interested, but the notices describe a corporate form change; immediate effects on policyholders aren’t stated.
• The sole shareholder of TSX Trust Company is directly affected (would receive the distribution). Creditors, clients, or others who rely on the company’s capital could be affected if the reduction is approved, though the notice does not describe concrete impacts.

Why it matters#

• If 15391326 Canada Inc. becomes KOHO Bank / Banque KOHO, a fintech brand could operate as a federally chartered bank in Canada. That could change the products it offers and the rules it follows. The notice starts the public-objection window but is not a decision.
• The insurance companies’ proposed continuances are mainly corporate-structure moves. They may change legal or governance rules that apply to those companies, but the notices don’t say they will change insurance contracts or coverage.
• The TSX Trust Company plan to reduce stated capital by up to $15 million would return money to its sole shareholder and could affect the firm’s capital position. Approval by regulators is required and not guaranteed.