Archived - Standard Industrial Classification - Establishments (SIC-E) 1980

Archived - Standard Industrial Classification - Establishments (SIC-E) 1980

7031 - Trust Companies

Establishments operating under the Trust Companies Act or corresponding provincial legislation. They are primarily engaged in two distinct activities, namely banking-type activities and fiduciary activities. As part of the first, they accept deposits and make them available to the economy primarily in the form of mortgage loans. Under the fiduciary activity, they may act as executors, administrators or receivers of trusts of all types, act as agents for stock and bond issues, act as real estate agents and managers, act as investment managers, receive or manage sinking funds, act as custodians, and administer pension plans. Establishments known as retirement savings funds and estate, trust and agency funds administered by trust companies are included in 7212 - Retirement Savings Funds and 7292 - Estate, Trust and Agency Funds. Establishments known as mutual funds operated by trust companies are classified in 7211 - Investment (Mutual) Funds. Real estate agent and broker establishments of trust companies are classified in 7611 - Insurance and Real Estate Agencies.

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