SROs & Exchanges
On December 18, 2009, the BC Securities Commission published BC Notice 2009/35 Memorandum of Understanding for Oversight of Exchanges and Quotation and Trade Reporting Systems. This revised memorandum of understanding replaces an earlier MOU signed on September 3, 2002.
Self Regulatory Organizations
A Self Regulatory Organization (SRO) is a non-governmental organization. Its purpose is to regulate operations, standards of practice, and business conduct of its members and their representatives, with a view to promoting the protection of investors and the public interest. The BCSC has the statutory power to recognize SROs. The BCSC currently recognizes the Mutual Fund Dealers Association (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) as SROs. IIROC was formed following the combination of the Investment Dealers Association (IDA) and Market Regulation Services (RS). Despite this combination, both the IDA and RS will remain recognized as SROs to ensure continuity of jurisdiction.
The BCSC publishes orders that recognize the SROs we regulate, and other documents related to our oversight role:
- Investment Dealers Association: recognition and approval orders, oversight agreements, and audit reports
- Investment Industry Regulatory Organization of Canada: recognition, variation, and approval orders
- Market Regulation Services: recognition and approval orders
- Mutual Fund Dealers Association: recognition orders, audit reports, and rule review
Recognized Exchanges
The BCSC has the statutory power to recognize stock exchanges. This recognition allows the exchanges to operate and sets out the terms and conditions under which the exchanges are regulated. The BCSC currently recognizes TSX Venture Exchange Inc.
TSX Venture Exchange Inc.
Current documents and rule review
- TSX Venture Exchange Inc. Variation Order
June 1, 2008 - TSX Venture Exchange Inc. Recognition Order August 12, 2005
Other Exchanges
The BCSC has given TSX Inc., the Canadian Trading and Quotation System Inc. (CNQ) and the NASDAQ Stock Market, Inc. exemptions from recognition as exchanges.
- NASDAQ Exemption Order November 12, 2003
- TSX Inc. Exemption Order September 3, 2002
You can find other recognition, consent and approval orders by searching Decisions & Orders.