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Canada

Who we are

Canada at a glance

Canada is a country located in North America, bordered by the United States to the south and Arctic Ocean to the north. It is the second largest country in the world by land area. It is divided into ten provinces and three territories. It has a population of 38.25 million people with Toronto being the most densely populated city. Ottawa is the capital city.

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photography of CN Tower, Canada

Banking

There are more than 80 financial institutions operating in Canada, with the five largest being the Royal Bank of Canada, TD Bank, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce. The banking industry in Canada is regulated by several bodies, including the Office of the Superintendent of Financial Institutions (OSFI), which oversees federal banks, and the Financial Consumer Agency of Canada (FCAC), which protects consumers’ rights and educates them about financial products and services.

Peer-to-Peer Lending Regulations

Peer-to-peer (P2P) lending is regulated by the Canadian Securities Administrators (CSA) and individual provincial securities regulators.
Website: https://www.securities-administrators.ca/ 
Email: info@securities-administrators.ca
Contact: +1 416 204 9191

Financial Regulators

The main financial regulator overseeing federally regulated financial institutions is the Office of the Superintendent of Financial Institutions (OSFI). OSFI is an independent agency of the Government of Canada that supervises and regulates banks, insurance companies, trust and loan companies, credit unions and pension plans at the federal level to ensure they operate in a safe and sound manner.
Website: https://www.osfi-bsif.gc.ca/
Email: information@osfi-bsif.gc.ca
Contact: 1-800-385-8647

Small Claims Procedure

The small claims procedure in Canada varies depending on the province or territory. Generally, small claims courts are part of the provincial or territorial court system, and they handle disputes involving small amounts of money. The limit for small claims also varies by province or territory, ranging from $2,500 to $35,000.