October 23, 2020 is the deadline to provide feedback on the self-regulatory organization (SRO) framework consultation paper.
Learn more about what the ASC is doing to support market participants and investors.
May 21, 2020
Montreal – As the COVID-19 pandemic causes continued uncertainty in the economy and the capital markets, the Canadian Securities Administrators (CSA) has been working to protect and educate investors.
“We understand this is a very difficult time for many Canadians who depend on their investments to meet their current and future financial needs,” said Louis Morisset, CSA and President and CEO of the Autorité des marchés financiers (AMF). “The CSA is committed to protecting investors during COVID-19 through enforcement, education and policy."
Since the pandemic emerged, the CSA and its members have seen an increase in potentially fraudulent investment schemes. These schemes often appear legitimate because they refer to current news, medical reports and social and political developments. The CSA urges investors to exercise caution with investment solicitations that involve COVID-19.
In response to the impacts of the pandemic, CSA investor focused efforts include:
The CSA encourages investors to review their financial goals in light of changing circumstances, understand the fees and charges that they pay and consider seeking advice from a registered adviser. These discussions should be an ongoing feature of the client-adviser relationship, but are critical to an investor’s well-being during uncertain economic times.
The CSA also encourages investors suffering from financial hardship to talk with their registered firms and advisers about relief options. Investors may also wish to inquire whether fees can be waived on the basis of financial hardship, including Deferred Sales Charges (DSCs).
When considering any new investment, carefully research the opportunity and ensure you read the required disclosure materials. The CSA's website has resources to help you navigate key disclosure documents, such as Fund Facts and ETF Facts.
OBSI is also available to investors. OBSI resolves disputes between investment firms and their clients if they can't solve them on their own. The CSA is renewing its focus on strengthening OBSI as an independent dispute resolution service, in order to secure fair, efficient and conclusive redress for investor losses where warranted. If OBSI finds that a firm has acted unfairly, made an error or given bad advice, and a client lost money as a result, it can recommend that a firm compensate the client. Residents of Québec can also bring related complaints to the AMF.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Kristen Rose Ontario Securities Commission 416-593-2336
Sylvain Théberge Autorité des marchés financiers 514-940-2176
Brian Kladko British Columbia Securities Commission 604-899-6713
Sara Wilson Financial and Consumer Services Commission, New Brunswick 506-643-7045
Renée Dyer Office of the Superintendent of Securities Newfoundland and Labrador 709-729-4909
Jeff Mason Nunavut Securities Office 867-975-6591
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160
Hilary McMeekin Alberta Securities Commission 403-592-8186
Jason Booth The Manitoba Securities Commission 204-945-1660
Steven Dowling Government of Prince Edward Island Superintendent of Securities 902-368-4550
David Harrison Nova Scotia Securities Commission 902-424-8586
Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466
Tom Hall Office of the Superintendent of Securities, Northwest Territories 867-767-9305