not a helluva lot of difference 'tween 'peg, ottowa, & upstate ny far's bsmt finishing but here's what i'd do & did in mine.
exterior above grade - 1" blue board foam glued to pressure wash'd exposed foundation walls,,, xpanded wire mesh over that follow'd by 2 parge coats.
interior - hang 6mil poly from top of the block walls down to & behind the miradrain left exposed when we installed the ' french drain ' under the floor & alongside the footer's btm elevation - that way ANY vapor would condense & drain down into the pipe & find its way to the sump/pump,,, we then glued & shot p/t sole plate 6" from block walls & blt stud walls about the interior,,, unfac'd insulation bats 'tween the studs,,, finish'd walls were geo-pacific sheet rock w/wall paper already attached for the top 1/2,,, 1" 6, 8, & 10" boards set at 35 degrees slant for the btm 1/2,,, we also installed 6 whisper fans for air circulation between the walls - 3 pushing & 3 sucking - there were in the unfinish'd area ( laundry-storage-mechanical )
floor was 2x4 p/t sleepers w/3/4" t&g 5ply marine plywood over them follow'd by carpet on top.
maybe o'kill but it was OUR home & i could ALWAYS see the work from MY house :laughing: