4 Questions
What is the primary role of the Canada Deposit Insurance Corporation (CDIC)?
Provides insurance of up to $100,000 for each depositor at a bank
Which regulatory agency imposes restrictions on the assets that insured banks can hold?
Office of the Superintendent of Financial Institutions Canada (OSFI)
What is the main responsibility of the Canadian Life and Health Insurance Compensation Corporation (CompCorp)?
Compensates policyholders if the issuing life insurance company goes bankrupt
Which regulatory agency requires disclosure of information and restricts insider trading?
Provincial securities and exchange commissions
Study Notes
Regulatory Agencies in Canada
- Canada Deposit Insurance Corporation (CDIC) protects depositors in case of bank failures by providing deposit insurance coverage.
Banking Regulation
- Office of the Superintendent of Financial Institutions (OSFI) imposes restrictions on the assets that insured banks can hold.
Insurance Regulation
- Canadian Life and Health Insurance Compensation Corporation (CompCorp) is responsible for protecting policyholders in the event of an insurance company failure.
Securities Regulation
- Securities regulatory agencies, such as the Ontario Securities Commission (OSC), require disclosure of information and restrict insider trading.
Test your knowledge about different regulatory agencies, their subjects of regulation, and the nature of regulation they impose on the financial sector.
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