AFM121 Lecture Notes - Lecture 6: Canada Deposit Insurance Corporation, Ontario Securities Commission, Mutual Fund
Document Summary
The office of the superintendent of financial institutions (osfi) Regulates and supervises banks, insurance, trust and loan companies, pension plans. It does not supervise the canadian securities industry this is done provincially (more on that later: canadian deposit insurance corporation (cdic) Insures deposits up to k per depositor in each financial institution. You personally can be insured for a total greater amount than k the insurance is for each (cid:862)accou(cid:374)t(cid:863) bank account; rrsp; mortgage etc. Each province has its own securities commission in ontario it is the ontario securities. The canadian securities association was formed by all 13 securities commissions to provide a national umbrella group to co-ordinate provincial activities (but only co-ordinate) Efforts have been made to attempt to set up a national securities commission. These efforts have been resisted by some of the provincial commissions: can anyone guess why this is the case, what is an sro, an organization owned by its members that regulate and police themselves.