IFSE Unit 1
Politically Exposed Foreign Person
•ambassador or ambassador's attaché or counsellor
Politically Exposed Foreign Person
•deputy minister (or equivalent)
Securities Regulator Role
•disciplining companies or individuals found to contravene the regulations
Securities Regulator Role
•enforcing securities regulations governing the buying and selling of securities
Securities Regulator Role
•establishing strict standards for disclosure of information before new securities can be offered to the public
Politically Exposed Foreign Person
•head of a government agency
Politically Exposed Foreign Person
•head of state or government
Securities Regulator Role
•investigating investor complaints against companies and their employees
Politically Exposed Foreign Person
•judge
Politically Exposed Foreign Person
•leader or president of a political party in a legislature
Politically Exposed Foreign Person
•member of the executive council of government or legislature
Politically Exposed Foreign Person
•military general (or higher rank)
Politically Exposed Foreign Person
•president of a state-owned company or bank
Dealing Representative Role
•register with your Securities Regulator •adhere to the Securities Regulator's rules, regulations and standards
Securities Regulator Role
•registering the companies and individuals that manage mutual fund portfolios established in their province or territory
Securities Regulator Role
•registering the companies and individuals who sell securities in their province or territory
Securities Regulator Role
•reviewing and approving mutual funds and new issue prospectuses before they are offered for sale in their province or territory
Securities Regulator Mandate
•to promote confidence in capital markets
Securities Regulator Mandate
•to promote fair and efficient capital markets
Securities Regulator Mandate
•to protect investors from unfair, improper and fraudulent practices
Securities Regulator Mandate
•to reduce systemic risk
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
It collects, analyzes, and discloses information to help detect and prevent money laundering and the financing of terrorist activities in Canada and abroad. ___________ mission is to contribute to the public safety and help protect the integrity of Canada's financial system by detecting and deterring money laundering and terrorist financing.
The Securities Commission
A Provincial and Territorial Regulator, administers jurisdiction's Securities Act or equivalent legislation
Investment Industry Regulatory Organization of Canada (IIROC)
National Regulator
Office of the Superintendent of Financial Institutions Canada (OSFI)
National Regulator
Mutual Fund Dealers Association (MFDA)
National Regulator, As a self-regulatory organization, the ______ is responsible for regulating the operations, standards of practice and business conduct of its members and their dealing representatives, with a view to enhancing investor protection and strengthening public confidence in the Canadian mutual fund industry. The ____________ is empowered by securities regulators in each of the enumerated jurisdictions (provinces and territories) to: •admit members •perform compliance reviews •enforce rules through a transparent disciplinary process that can result in fines, suspension, or termination of membership
Canadian Securities Administrators (CSA)
National Regulator, The _________ mandate consists of three goals: •to protect investors from unfair, improper, or fraudulent practices •to foster fair and efficient capital markets •to reduce risks to the market's integrity, and to investor confidence in the markets _________ pursues these goals through a national system of harmonized securities regulations, policies, and practices. Securities Regulators enforce these regulations, policies and practices.
Ombudsman for Banking Services and Investments (OBSI)
National Regulator, ___________'s objective is to attempt to resolve disputes between participating banking services and investment firms and their clients.As of August 1, 2014, all dealers and advisors must also be _________ members. ________ can provide recommendation to settle claims up to $350,000. As an alternative to the legal system, ___________ provides a mechanism to ensure members deal fairly with their customers.
The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)
is an Act to combat the laundering of proceeds of crime and the financing of terrorist activities. This legislation was introduced to: •help detect and deter money laundering and terrorist financing activities •provide law enforcement officials with tools to investigate and prosecute money laundering or terrorist financing offences •respond to Canada's international commitments to participate in the fight against multinational crime
OSFI's mandate
protect the rights and interests of depositors, policyholders, pension plan members and creditors of financial institutions •contribute to public confidence in the Canadian financial system