Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Bad Policy As A Recipe For Bad Federalism In The Regulation Of Canadian Financial Institutions: The Case Of Loan And Trust Companies, Ronald J. Daniels
Bad Policy As A Recipe For Bad Federalism In The Regulation Of Canadian Financial Institutions: The Case Of Loan And Trust Companies, Ronald J. Daniels
Ronald J. Daniels
This article addresses the impact of substantive policy on federal arrangements in the regulation of Canadian loan and trust companies. It is argued that reliance on market-suppressing policies (flat-rate based deposit insurance and selective bail·outs of depositors in the event of institutional failure) has undermined the value of competitive federalism in this area, and has spawned highly contentious policy initiatives such as Ontario's Equals Approach. To redress the federalism problems in the regulation of loan and trusts, a useful starting point would be the enhancement of market forces in substantive policy. Here, it is argued that the commitment to secrecy …
Breaking The Logjam: Proposals For Moving Beyond The Equals Approach, Ronald J. Daniels
Breaking The Logjam: Proposals For Moving Beyond The Equals Approach, Ronald J. Daniels
Ronald J. Daniels
Over the last decade, the structure and performance of Canadian financial institutions has undergone a profound transformation. Propelled by both regulatory changes and market innovations, Canadian financial institutions have found their historically protected markets opened to intense competition from a variety of different sources. The most significant regulatory change has been the piecemeal dismantling of the pillars that have traditionally separated the core activities of banks, insurance companies, loan and trust companies, and securities dealers from encroachment by one another. With lower entry barriers, institutions have scrambled to penetrate each other's markets. This entry has spurred a narrowing of differences …