Investment Industry Organizations Flashcards
What is the CSA?
Canadian Securities Administration
Is a provincial regulator that regulates the SROs. Including the IIROC and the MFDA.
Made up of 10 Provence’s and 3 territories.
What is the CDS?
CDS clearing and depository inc.
it is the clearing and settlement organization of Canada.
What is the CIPF?
The Canadian Investor Protection Fund
*available to IIROC members
Covers up to 1 million dollars in cash accounts, margin, tfsa, RRSP and RESP incase of investment dealer insolvency.
What is the IIROC?
Investment industry regulatory organization of Canada.
IIROC sets and enforces rules for dealer members and their registered employees. Including proficiency of dealer members as well as business and financial conduct. Also sets and unforced rules regarding trading on the equity markets.
Its mandate is “to set high quality regulatory and investment industry standards, protect investors, and strengthen market integrity while maintaining efficient and competitive capital markets”.
What is the CDIC?
The Canadian deposit insurance corporation.
Insurance for clients of banks covering up to 100,000$ for each account. Chequing/Savings, Guaranteed investment certificates, Term accounts and foreign currency.
What is the CCAA legislation?
The Cooperative credit associations act.
it regulates credit unions and caisses populaires
what is the OSFI?
the office of the super intendant of financial institutions.
It is a federal regulator of all federally regulated financial institutions including:
banks, trust and loan companies, credit unions.
insurance companies
federally incorporated foreign banks
federally regulated pension plans
what is a SRO?
it is a self regulatory organization.
what is the OBSI?
Ombudsman for banking services and investments.
The organization investigates customer complaints against financial institutions including banks, investment dealers, mutual fund dealers, and mutual fund companies.
The process is not binding but if the firm does not follow advice it will be publicly announced.
what is the DNCL?
the National do not call list.
what is the NRD?
it is the national registration database. it is a web-based service to register with a stock exchange, CSA or IIROC.
what is the CDIC?
the credit union deposit insurance corporation. covers up to 100,000$
what is the MFDA?
Mutual fund dealers association.
it regulates the distribution and sale of mutual fund securities not the mutual funds themselves
What is the MFDA IPC?
Mutual Fund Dealers Association Investor Protection Fund.
- the MFDA IPC is only available to MFDA members
Investors accounts are covered up to 1 million dollars each.
What is the CDCC?
The Canadian Derivatives Clearing Corporation. It is responsible for clearing futures and options on the Montreal Exchange.
