Canada: Report on the Observance of Standards and Codes

This paper discusses key findings of the Report on the Observance of Standards and Codes for Canada. Canada has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision. In response to the challenges and structure of its market, the Canadian banking supervisor (OSFI) has developed and is a strong proponent of risk-based, proportionate, supervisory practices and applies a â€œclose touchâ€ approach to its supervised entities. The supervisory approach is well structured, forward looking and maintained on as dynamic a basis as possible. Entry to the Canadian market is subject to demanding prudential entry standards.

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Year of publication:	2014-02-03
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Financial Sector Assessment Program \| Basel Core Principles \| Bank supervision \| Insurance \| Securities regulations \| Securities markets \| Reports on the Observance of Standards and Codes \| Canada \| risk management \| banking supervision \| supervisory approach \| supervisory framework \| legal entity \| insurance business \| iosco principles \| prudential supervision \| risk profile \| supervisory practice \| insurance intermediaries \| accounting standards \| internal audit \| regulatory requirements \| money laundering \| information exchange \| ethical standards \| internal controls \| international standards \| adequate powers \| reporting requirements \| due diligence requirements \| foreign authorities \| beneficial ownership \| prudential risks \| supervisory agencies \| terrorist financing \| exchange information \| ensuring compliance \| supervisory standards \| assessment criteria \| financial intermediaries \| licensing process \| insurance supervisors \| regulatory authorities \| market integrity \| confidentiality requirements \| assessment mission \| legal entities \| technical capacity \| due regard \| life insurance \| supervisory authorities \| collective investment schemes \| assessment process \| compliance officer \| supervisory process

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 14/30 6 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011244652