SELF REGULATORY ORGANIZATIONS (SROs)

The provincial securities commissions are responsible for regulation in each province. Certain responsibilities are delegated to Self Regulatory Organizations (SRO), however the securities commissions retain overall responsibility. The SROs have a mandate to regulate the activities of their members only. Decisions of the SROs can be appealed to the provincial securities commissions.

Investment Dealers Association of Canada (IDA)

The IDA was the national self regulatory organization charged with monitoring the activities of its member firms and investigating complaints against member brokers. In 2008 the IDA was combined with Market Regulation Services to form a new Self Regulatory Organization listed below.

Investment Industry Regulatory Organization of Canada - IIROC website

The Investment Industry Regulatory Organization of Canada (IIROC) is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets. IIROC operates from the former IDA offices.

Market Regulation Services Inc. (RS)

Market Regulation Services Inc. (RS) was the independent regulation services provider for Canadian equity markets, including the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSX V), Bloomberg Tradebook Canada Company (Bloomberg) and Canadian Trading and Quotation System (CNQ). RS helps protect investors and ensure market integrity by regulating trading on these marketplaces to ensure transactions are executed properly, fairly and in compliance with trading rules.

RS is now combined with the former Investment Dealers Association of Canada into a new organization called the Investment Industry Regulator of Canada (IIROC).

Mutual Fund Dealers Association (MFDA) - MFDA website

The Mutual Fund Dealers Association is a newly formed self regulatory organization responsible for regulating all sales of mutual funds. It will be a requirement for all sellers of mutual funds to become members of the MFDA.

The MFDA will not regulate the funds or the fund manufactures. That responsibility will remain with the provincial securities commissions.