Canadian Securities Course (CSC) Practice Exam · Question
Which regulatory body is responsible for supervising Canada's financial institutions, including banks and insurance companies, to protect depositors and policyholders?
OSFI is an independent agency of the Government of Canada responsible for supervising and regulating all federally regulated financial institutions to ensure th
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Question: Which regulatory body is responsible for supervising Canada's financial institutions, including banks and insurance companies, to protect depositors and policyholders?
Answer options:
- The Bank of Canada ✅ The Office of the Superintendent of Financial Institutions (OSFI)
- The Canada Deposit Insurance Corporation (CDIC)
- The Provincial Securities Commissions
Correct answer: The Office of the Superintendent of Financial Institutions (OSFI)
Explanation: OSFI is an independent agency of the Government of Canada responsible for supervising and regulating all federally regulated financial institutions to ensure their financial soundness and protect the interests of depositors and policyholders.
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