AFM121 Lecture Notes - Lecture 4: Eurodollar, Eurocurrency, Foreign Account Tax Compliance Act

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM121
• Professor: Garvin Blair

Document Summary

Ontario securities commission (osc), bc securities commission (bcsc) Self regulatory organizations (sros) provide oversight and enforcement for some rules. Investment industry regulatory organization of canada (iiroc), tsx, tsx venture. Owned by the tmx: canadian investor protection fund (cipf) Insures brokerage account contents (not losses!: canadian securities institute (csi) Offers courses required for licensing by regulators. 3% of firms have revenue over billion. 8% of firms have revenue million - billion. Rest of firms are smaller, with over half generating revenue below million. Big banks, a few independent (i. e. not bank owned: ma(cid:374)y s(cid:373)all (cid:862)(cid:271)outi(cid:395)ue(cid:863) i(cid:374)(cid:448)est(cid:373)e(cid:374)t deale(cid:396)s. May specialize in specific sectors or products: multiple departments within an investment dealer: (cid:862)chi(cid:374)ese wall(cid:863) (cid:271)et(cid:449)ee(cid:374) depa(cid:396)t(cid:373)e(cid:374)ts: brokers can be full-service or discount. Full-se(cid:396)(cid:448)i(cid:272)e (cid:271)(cid:396)oke(cid:396)s offe(cid:396) (cid:862)high-tou(cid:272)h(cid:863) se(cid:396)(cid:448)i(cid:272)e a(cid:374)d ad(cid:448)i(cid:272)e: high fees. Discount brokers offer limited services, such as stock and bond trade execution, but no advice. Borrow money every 90 days to finance a 20-year mortgage.