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  • Improve Your Financial Knowledge - Part 9

    30. Financial services industry is one of the most highly regulated industries in the world. 31. Regulators of Financial Services: 1. Banking Regulators 2. Insurance Regulators 3. Securities Regulators 4. Other Regulators 32. Bank Act: A federal legislation, governing how banks operate in Canada. 1. Access to Basic Banking Services 2. Access to Funds 3. Complaints 33. Banking sector is the responsibility of the below regulators: 1. Department of Finance 2. Office of the Superintendent of Finan…

  • Improve Your Financial Knowledge - Part 8

    24. The Investment Industry's Players: * Providers of capital (lenders) * Users of capital (borrowers) 25. Types of Securities: 1. Equities are shares, issued by a corporation for the share owners (Common shares * Preferred shares) 2. Fixed income securities are issued by governments and corporations, to borrow money (Money market instruments * Bonds * Debentures) 3. Derivatives are contracts, to give the holder the right to buy/sell an asset and its value is derived from the asset (Options * …

  • Improve Your Financial Knowledge - Part 7

    18. How Does the Insurance Industry Work? A) Providing insurance policies to consumers and businesses for the premiums, paid by the policy holders. B) The insurance companies' profit is the difference between the premiums collected (plus investment returns) and the claims paid to policy holders. C) Insurance companies employ underwriting operations to evaluate the risks and insurability of applicants. If the risks are acceptable, policies are approved and contracted with the policy holders. 19…

  • Improve Your Financial Knowledge - Part 6

    14. The banking industry in Canada is comprised of 88 banking institutions: Big 6 (TD, RBC, CIBC, Scotiabank, BMO, NBF) 29 Domestic banks 21 Foreign bank subsidiaries 28 Foreign bank branches 4 Foreign bank lending branches 15. Banks, Operating in Canada Schedule I: Domestic Canadian banks + Accept and insure deposits under the Canadian Deposit Insurance Corporation (CDIC) Schedule II: Foreign bank subsidiaries, controlled by foreign institutions + Banks owned by insurance companies under the …

  • Improve Your Financial Knowledge - Part 5

    12. Financial Services Industry Segments' Acts: 1. Banking: a) Bank Act (Canada) b) Trust and Loan Companies Act (Canada) 2. Insurance: a) Insurance Companies Act (Canada) b) Insurance Acts of the provinces and territories 3. Investment: a) Securities Acts of the provinces and territories b) National Instruments of the Canadian Securities Administrators (CSA) c) Rules of the Self-Regulatory Organizations (SROs) 13. Bank Products and Services: 1. Deposit Products and Services: Savings accounts …

  • Improve Your Financial Knowledge - Part 4

    10. Financial Publications and Media Services: Canadian: Globe and Mail Financial Post Reuters News Investment Executive American: Wall Street Journal Bloomberg News Financial Times 11. Global Stock Markets DJIA (New York, U.S.) S&P (New York, U.S.) NASDAQ (New York, U.S.) FTSE (London, U.K.) NIKKEI (Tokyo, Japan) SSE (Shanghai, China) Hang Seng (Hong Kong) DAX (Frankfurt, Germany) CAC (Paris, France) TSX (Toronto, Canada) Dow Jones Industrial Average (DJIA): * The most widely quoted mark…

  • Improve Your Financial Knowledge - Part 3

    8. Financial Services' Contribution to the Canadian Economy: a) 7.1 % of the GDP b) 4.5 % of the Employment c) $537 billion of Outward Foreign Direct Investment (FDI) 9. Top 15 Largest Companies in Canada: 1. Royal Bank of Canada: Financial 2. Toronto-Dominion Bank: Financial 3. Enbridge: Oil & Gas 4 Bank of Nova Scotia: Financial 5. Canadian National Railway: Transportation 6. Suncor Energy: Oil & Gas 7. Bank of Montreal: Financial 8. Brookfield Asset Management: Financial 9. TransCanada Cor…

  • Improve Your Financial Knowledge - Part 2

    4. Canada is one of the world's leading industrialized countries and a member of G7 (including Canada, France, Germany, Italy, Japan, UK, USA) Canadian dollar is one of the world’s reserve currencies. 5. World’s Reserve Currencies: 1. U.S. Dollar: USA 2. Euro: Europe 3. Renminbi (Yuan): China 4. Yen: Japan 5. British Pound Sterling: UK 6. Australian Dollar: Australia 7. Canadian Dollar: Canada 8. Swiss Franc: Switzerland 6. Top Global Financial Centers: 1. London 2. New York 3. Hong Kong 4. …

  • Improve Your Financial Knowledge - Part 1

    1. Financial Services Industry: A sophisticated global business sector, performing money and finance activities. Companies in the financial services industry channel money through the financial system via financial transactions. 2. Financial Services Industry's Contribution to Economic Growth: By providing the means for financial transactions and economic consumption. 3. Companies Operating in the Financial Services Sector: 1. Banking institutions: Provide banking services. Banking products:…

  • Everything You Need To Know About Will and Estate Planning in Canada

    What is Estate Planning? Financial planning is literally something that needs to be done with a great care, and your estate is no different. A lot of people are under the impression that estate planning can wait. Before we dive head first into the technical aspects of estate planning, we need to understand the importance of estate planning and how it all works. If you're a bit confused on the basics of preserving wealth by creating a will, or unsure of what a trust is, then this article will def…