Bank of Canada

Felix I. Lessambo ()
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Felix I. Lessambo: Fordham University

Chapter Chapter 14 in Fintech Regulation and Supervision Challenges within the Banking Industry, 2023, pp 175-185 from Palgrave Macmillan

Abstract: Abstract The Canadian financial regulatory system is fragmented with oversight of various parts of the financial system divided among a variety of federal and provincial regulators. The three principal federal regulators of financial institutions are the Office of the Superintendent of Financial Services (“OSFI”); the Canadian Deposit Insurance Corporation (“CDIC”); and the Financial Consumer Agency of Canada (“FCAC”). Firms with innovative business models are invited to contact their local securities regulator to discuss the firm’s business model and applicable securities law issues. In 2014, Canada became the first nation to establish laws addressing cryptocurrency by amending the Proceeds of Crime and Terrorist Financing Act (PCA) to cover all persons or entities dealing in cryptocurrencies.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-25428-4_14

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DOI: 10.1007/978-3-031-25428-4_14

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