Privacy And Financial Services In Canada

Describes and presents findings of a public opinion study whose objectives included: describing the current and evolving attitudes of the Canadian public on a variety of issues relating to the financial services industry; examining Canadians' interaction with the financial services sector; and understanding the interrelatedness of many of the issues and how they are shaping public attitudes. Findings are based on data from a telephone survey of 1,800 representatives from the general public, and a series of focus groups and triads with telephone survey participants. Issues examined include levels of satisfaction with different elements of the financial services sector, levels of trust and confidence in the sector, the image of banks, competition, mergers, Canadian control of the sector, industry practices, and issues relating to technology and privacy. The appendix includes a copy of the survey instrument along with a tabulation of the results.

This paper addresses marketplace factors which are critical for assisting or supporting consumers of financial services in Canada. These factors are: the transparency of transactions and disclosure; privacy of personal information; redress mechanisms; non-coercive sales practices; proficiency standards; and open markets. Particular attention is paid to financial institutions (banks, trust corporations, insurance companies, credit unions) and to financial intermediaries (primarily insurance brokers and agents). The introduction includes discussion of the rationale for focusing on retail consumers and the challenge for public policy in dealing with consumer protection issues. Chapter 2 provides further context by reviewing recent broad market developments. The subsequent chapters examine each of the above factors in turn, and include comparisons with practices in other countries.

From the back cover: Canadians will soon be debating specific proposals for changes to regulations for the financial services industry that are slated for implementation in 1997....This volume examines a set of policy questions that are central to the 1997 legislative review. The book is a collection of papers, each examining a different policy question. The first is motivated by the need for an objective assessment of the link between competition, concentration and profitability, with particular attention paid to major banks. The second reviews the basic issues in the design of Canada's payments system, through which financial institutions clear transactions with each other. The final paper evaluates the impact of rapidly changing computer, communication and networking technologies.

This Detailed Assessment report, a part of the 2013 Financial Sector Assessment Program (FSAP) of Canada, assesses Canada’s regulatory regime and supervisory practices against the international standards. The IMF report suggests that the Office of the Superintendent of Financial Institutions (OSFI) should be empowered to take supervisory measures at the level of the holding company. It highlights that while OSFI requires Federally Regulated Insurers (FRI) FRIs to develop internal capital targets, requirements to develop an Own Risk and Solvency Assessment are scheduled to be implemented in 2014.

Financial Services Canada is the only master file of current contacts and information that serves the needs of the entire financial services industry in Canada. With over 18,000 organizations and hard-to-find business information, Financial Services Canada is the most up-to-date source for names and contact information of industry professionals, senior executives, portfolio managers, financial advisors, agency bureaucrats and elected representatives.

Understanding the financial privacy and data security landscape in the U.S. involves following a moving target as the landscape is continually changing. To appropriately advise clients on these issues, it is necessary to stay on top of the ever-changing legal, regulatory, and industry developments that impact data protection issues. This practical and user-friendly resource provides a basic understanding of major data protection laws and regulations relevant to the U.S. financial sector and guides you on where and how to seek further information. To help you tackle and untangle the intricacies of this evolving area of the law, this book includes practice tips and historical perspectives outlining relevant information. The book discusses: Fundamental concepts and terminology U.S. data protection framework Navigating and evaluating the requirements and risks The landscape of the major fedral laws - GLBA, FCRA, and RFPA - as well as relevant state analogues UDA(A)P and general consumer protection laws and other data protection laws Industry standards and initiatives, which can be helpful sources for best practices, information sharing, and peer benchmarking Laws, regulations, and risk considerations relevant to incident response And more! This book was published on 07/06/2023