Unit1

Question 1

National Level Regulatory Bodies

Answer 1

• Canadian Securities Administrators (CSA)
• Mutual Fund Dealers Association of Canada
  (MFDA)
• Ombudsman for Banking Services and
  Investments (OBSI)
• Investment Industry Regulatory Organization
  of Canada (IIROC)
• Office of the Superintendent of Financial
  Institutions Canada (OSFI)

Question 2

Securities Regulators generally have a mandate to:

Answer 2

• protect investors from unfair, improper and fraudulent practices
• promote fair and efficient capital markets
• promote confidence in capital markets
• reduce systemic risk

Question 3

Canadian Securities Administrators (CSA)

Answer 3

The CSA is a policy-making body composed of members from each Securities Regulator. It is a forum for Canada’s Securities Regulators to improve, coordinate, and harmonize regulation of the Canadian capital
markets.

Question 4

Mutual Fund Dealers Association of Canada (MFDA)

Answer 4

The Mutual Fund Dealers Association of Canada (MFDA) is the self-regulatory organization for the distribution side of the Canadian mutual funds industry. The MFDA is structured as a not-for-profit corporation and its members are mutual fund dealers that are licensed with Securities Regulators.

Question 5

Ombudsman for Banking Services and Investments (OBSI)

Answer 5

The Ombudsman for Banking Services and Investments (OBSI) is not a regulator but an independent an impartial organization whose objective is to attempt to resolve disputes between participating banking services and investment firms and their clients.

Question 6

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Answer 6

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence unit.
It collects, analyzes, and discloses information to help detect and prevent money laundering and the financing
of terrorist activities in Canada and abroad.

Question 7

Personal Information Protection and Electronic Documents Act (PIPEDA)

Answer 7

PIPEDA is Canada’s private sector privacy law. PIPEDA establishes rules for how federally regulated private
sector organizations may collect, use, or disclose personal information.

Question 8

Canada’s Anti-Spam Legislation (CASL)

Answer 8

In an effort to protect consumers from unwanted electronic messages, the Government of Canada introduced legislation to deal with unsolicited commercial electronic messages, also referred to as spam

Question 9

The Foreign Account Tax Compliance Act (FATCA)

Answer 9

The government of the United States (US) has long been concerned that certain US taxpayers were evading
the payment of taxes by investing offshore. The US Foreign Account Tax Compliance Act (FATCA) targets those taxpayers.