Posted by Anjali Kaur on Jun 10, 2022

Canadian Securities Administrators (CSA)

Canadian Securities Administrators is a policy-making body made up of members from the Securities Regulator.

Its a place where Canada’s Securities regulators meet, to improve, coordinate and bring stability to the rules and working of Canadian capital markets.

Role of CSA

  1. Protect investors from unfair, improper, or fraudulent practices.
  2. Promote fair and efficient capital markets.
  3. To lower the risk to the market’s integrity

All these goals are achieved through a national system of harmonized securities regulations, policies, and practices.

Mutual Fund Dealers Association (MFDA)

MFDA of Canada is a self-regulatory organization. It is a not-for-profit corporation and its members are MF dealers that are licensed by Securities Regulators.

For all the MFD outside the province of Quebec, it is mandatory to be members of the MFDA.

Role of MFDA

  1. Regulating the working, standards of practice, and business conduct of its members and their dealing representatives.
  2. To increase investor protection and strengthen public confidence in the dealing representatives.
  3. To admit members, perform compliance, review, and place rules, like a disciplinary process that can result in fines, suspension, or termination of membership. (Delegated by SC)
  4. To administer MFDA Investor Protection Corporation (IPC), to provide protection for eligible customer losses.

IPC is funded by contributions from MFDA members and provide customers with covergae to a maximum of $1 million in their general accounts and a maximum of $1 million for their retirement accounts. This coverage only extends to nominee name and does not apply to funds held in client name at fund companies.

Ombudsman for Banking Services and Investments (OBSI)

OBSI is an independent and impartial organization whose objective is to try and resolve disputes between participating banking services and investment firms and their clients. All dealers and advisors must also be OBSI members except in QUEBEC, where the mediation system is under AMF.

OBSI can settle claims up to $350000.

Thank you!

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