What is the primary purpose of PIPEDA?

The primary purpose of PIPEDA, which stands for the Personal Information Protection and Electronic Documents Act, is to govern how personal information is collected, used, and disclosed by private-sector organizations in Canada. This act establishes essential principles that organizations must follow to protect the privacy of individuals in relation to their personal data. The legislation is designed to ensure that individuals have control over their own personal information and promotes transparency in the handling of such data.

For example, organizations must obtain consent when collecting personal information and must inform individuals about how their information will be used. In essence, PIPEDA aims to strike a balance between an individual's right to privacy and the needs of organizations to collect and use that information for legitimate business purposes. This focus on personal information handling is what directly aligns with the correct answer.

The other options relate to different areas. Regulating financial transactions and managing mortgage defaults are under financial or banking regulations, while overseeing real estate sales involves property and real estate laws, which do not pertain to the privacy protection that PIPEDA specifically addresses.