Ace the Canadian Securities Course 2025 - Rock the CSC Practice Exam!

Question: 1 / 400

Which entity is responsible for compliance, accounting, audits, and legal functions in financial firms?

Back office

Integrated firms

Schedule I banks

Middle office

The middle office is responsible for compliance, accounting, audits, and legal functions in financial firms. The back office mainly handles administrative and support tasks, while integrated firms refer to companies that offer both investment banking and commercial banking services. Schedule I banks are regulated by the government and have a higher capital adequacy requirement compared to other banks in Canada. Therefore, the middle office is the entity that is responsible for the mentioned functions in financial firms.

Get further explanation with Examzify DeepDiveBeta
Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy