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Regulatory Agencies and Their Functions

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@HighSpiritedDatePalm

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Questions and Answers

What is the primary role of the Canada Deposit Insurance Corporation (CDIC)?

Compensates policyholders if the issuing P&C insurance company goes bankrupt

Coordinates with provincial securities commissions

Provides insurance of up to $100,000 for each depositor at a bank (correct)

Conducts bank audits and sets capital adequacy standards

Which regulatory agency imposes restrictions on the assets that insured banks can hold?

Bank of Canada

Provincial securities and exchange commissions

Office of the Superintendent of Financial Institutions Canada (OSFI) (correct)

Québec Deposit Insurance Board

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 (correct)

Conducts bank audits and sets capital adequacy standards

Examines the books of insured banks

Provides insurance of up to $100,000 for each depositor at a bank

Which regulatory agency requires disclosure of information and restricts insider trading?

<p>Provincial securities and exchange commissions</p> Signup and view all the answers

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.

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Description

Test your knowledge about different regulatory agencies, their subjects of regulation, and the nature of regulation they impose on the financial sector.