ABSTRACT
A multitude of powerful forces is working in the Canadian financial sector to produce change. In some ways, the most notable development is the growing presence of large holding companies covering several segments of the financial system. In addition to controlling different classes of financial institutions, many of these holding groups are also associated with major non-financial companies. In fact, we may be approaching a point where, as a practical matter, the distinction between ‘banking’ and ‘commerce’ could be irreversibly breached. This study aims to bring these trends together in a fashion that suggests a new approach to the structure of the Canadian financial system and the regulatory apparatus associated with the system.
