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9273 Results

January 13, 2003

Process for Selecting a New Senior Deputy Governor

The Board of Directors of the Bank of Canada has initiated a process to find a replacement for Senior Deputy Governor Malcolm Knight, who is leaving the Bank to take up an appointment as General Manager of the Bank for International Settlements in Switzerland at the beginning of April.
December 22, 2002

Recent Changes to Canada's Financial Sector Legislation

Significant legislative developments have occurred in Canada's financial services sector over the past decade. This article chronicles those developments and gives an overview of the key provisions contained in Bill C–8, the legislation to reform the sector that came into force in October 2001. The article briefly describes some of the restructuring trends in the financial services sector since the early 1990s and the legislative changes that affected federal financial institutions over the period 1992–2001, as well as the process leading up to the 2001 legislation and some of its key provisions. The 2001 financial sector legislation was wide-ranging. It maintained the principle of wide ownership of large banks and introduced a number of changes, including a holding company option that can give greater organizational flexibility to banks and life insurance companies; the creation of the Financial Consumer Agency of Canada to enforce consumer-related provisions as they relate to federal financial institutions; and changes to the Canadian Payments Association and the access to and governance of the payments system.
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