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We rarely see bank runs since the advent of Federal Deposit Insurance,but runs on life insurers and mutual funds do occur even though claimants have pro rata claims in the event of default. Why do these runs still occur?
Legislated Constraints
Legal limitations or requirements that organizations must comply with in their operations, including those related to labor, safety, and environmental standards.
Employment Standards Act
Legislation that outlines the minimum standards of employment, including wages, working hours, and conditions, that must be provided to employees by employers.
Canada Labour Code
A federal law in Canada that regulates employment standards, labor relations, and workplace health and safety in federally regulated sectors.
Above-Market Wages
Above-market wages refer to compensation rates higher than the average or standard for a particular job or industry.
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