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Securities Dealers /Stock Brokers
The following is meant solely to help the reader understand the main features of primary regulations governing this activity, and not meant in any way to provide a legal interpretation.
Securities Act:
The British Columbia Securities Commission (BCSC) is the independent provincial government agency responsible for regulating securities trading in British Columbia through the administration of the Securities Act.
Self Regulation:
While BCSC rules apply to all securities firms, they monitor directly only those firms registered as portfolio managers, exchange contract dealers, and scholarship plan dealers (representing approximately 60% of registered firms and 10% of the individuals registered in BC). Under powers provided in the Securities Act, the BCSC relies on self-regulatory organizations (SROs) to perform key regulatory functions related to investment dealer and mutual fund dealer firms. The BCSC oversees these organizations in cooperation with its regulatory colleagues in other jurisdictions.
These SRO organizations are:
-The Investment Dealers Association of Canada (IDA) ? the national securities industry association and self-regulatory organization for investment dealers, which registers securities firms and their representatives and regulates their conduct and capital adequacy.
Website: http://www.ida.ca
-The Mutual Fund Dealers Association of Canada (MFDA) ? the self-regulatory organization for mutual fund dealers, which regulates their conduct and capital adequacy.
Website: http://www.mfda.ca/
-Market Regulation Services, Inc. (RS) ? the market regulation services provider, which monitors trading activity on the Canadian equity markets and helps monitor listed companies? compliance with exchanges? timely disclosure and other requirements.
Website: http://www.rs.ca
There are a large number of categories for registraion and certification (including education requirements) for each of these organizations. Contact the BCSC for regulatory details.
Primary Contact:
British Columbia Securities Commission
701 West Georgia Street
P.O. Box 10142, Pacific Centre
Vancouver, B.C. V7Y 1L2
Tel: 604-899-6500
1-800-373-6393 (toll free in BC & Alberta)
Fax: 604-899-6506
Website: http://www.bcsc.bc.ca
Secondary Contacts:
IDA
Suite 2800 - Royal Centre
1055 West Georgia Street
P.O. Box 11164
Vancouver , British Columbia V6E 3R5
Tel:(604) 683-6222 Fax:(604) 683-3491
Enforcement Matters Only: Fax (604) 683-6262
MFDA
650 West Georgia Street
Suite 1220, P.O. Box 11603
Vancouver, British Columbia
V6B 4N9
Phone: (604) 694-8840, Fax: (604) 683-6577
Email: PacificOffice@mfda.ca
RS
P.O. Box 11580
Suite 2600, 650 West Georgia St.
Vancouver, B.C. V6B 4N8
Tel: (604) 602-6962
Fax: (604) 682-8514
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