What is the federal statute that regulates trust and mortgage loan companies?

The Trust and Loan Companies Act is the federal statute specifically designed to regulate trust companies and mortgage loan companies in Canada. This act provides the legal framework for the incorporation, organization, operation, and regulation of these financial institutions. It establishes guidelines under which trust and loan companies must operate, ensuring they adhere to standards of accountability, solvency, and financial management.

The act also covers various aspects related to the protection of consumers and investors, promoting transparency and confidence in the financial system. By overseeing the activities of mortgage loan companies, the Trust and Loan Companies Act plays a crucial role in maintaining stability in Canada's mortgage and lending landscape.

The other mentioned acts serve different purposes; for example, the Bank Act primarily regulates chartered banks, the Mortgage Regulation Act does not exist at the federal level, and the Securities Act focuses on the regulation of securities and investment products rather than specifically addressing mortgage loan and trust companies. Therefore, the Trust and Loan Companies Act is the most appropriate choice for regulations concerning trust and mortgage loan companies.