Mishkin 2011. pdf

Regulatory Agency

Subject of Regulation

Nature of Regulations

Provincial securities and

Organized exchanges

Requires disclosure of

exchange commissions

and financial markets

information and restrict

insider trading

Bank of Canada

Chartered banks, TMLs,

Examines the books of the

and CUCPs

deposit-taking institutions

and coordinates with the

federal agencies that are

responsible for financial

institution regulation:

OSFI and CDIC

Office of the Superintendent

All federally regulated

Sets capital adequacy,

of Financial Institutions

chartered banks, TMLs,

accounting, and board-of-

Canada (OSFI)

CUCPs, life insurance

directors responsibility

companies, P&C

standards; conducts bank

insurance companies,

audits and coordinates

and pension plans

with provincial securities

commissions

Canada Deposit Insurance

Chartered banks, TMLs,

Provides insurance of up to

Corporation (CDIC)

CUCPs

$100 000 for each depositor

at a bank, examines the

books of insured banks,

and imposes restrictions

on assets they can hold

Qu bec Deposit Insurance

TMLs and credit cooperatives

Similar role as the CDIC

Board

in Qu bec

Canadian Life and Health

Life insurance companies

Compensates policyholders if

Insurance Compensation

the issuing life insurance

Corporation (CompCorp)

company goes bankrupt

P&C Insurance

Property and casualty

Compensates policyholders

Compensation

insurance companies

if the issuing P&C

Corporation (PACIC)

insurance company goes

bankrupt