Ottawa warned bank failures could increase

Article Abstract:

The Office of Superintendent of Financial Institutions (OSFI) warned the Canadian government that its plans to allow the financial sector to revamp its ownership structures could increase the risk of failures. OFSI wants full regulation of parent financial companies, and is also seeking the power to monitor relations between regulated and non-regulated affiliates of financial institutions. Canadian financial institutions earlier urged the government to allow them to separate their regulated and unregulated businesses.

Government regulation, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Banking law

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B of M to reveal restructuring plan

Article Abstract:

Bank of Montreal is anticipated to announce on Apr 28, 1999, its restructuring plans that call for appointing new leaders and dividing the company into corporate banking, wealth management and retail and commercial banking divisions. The company's planned wealth management division, which will have C$140 bil in assets in the US and Canada, will be responsible for trust services, stockbrokers and mutual funds.

Strategy & planning

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