The NSSC has the statutory power to recognize exchanges and set out the terms and conditions under which the exchanges are regulated. The following have either been recognized as exchanges or exempted from the recognition requirement:
Alternative Trading Systems (ATSs)
The Canadian Securities Administators (CSA) have developed a framework for regulating ATSs. National Instrument 21-101 Marketplace Operation and National Instrument 23-101 Trading Rules, with their Companion Policies make up the ATS Rules.
The NSSC has the statutory power to recognize clearing agencies.
The NSSC has the statutory power to recognize the following deriatives trade repositories.
A self-regulatory organization (SRO) is an organization that represents its members and is organized for the purpose of regulating the 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 NSSC has the statutory authority to recognize SROs.
Effective January 1, 2023, the NSSC recognized the New Self-Regulatory Organization of Canada:
New Self-Regulatory Organization of Canada
Prior to January 1, 2023 the NSSC recognized the following SROs:
Canadian Investor Protection Fund
The Canadian Investor Protection Fund (CIPF) covers customers who incur losses as a result of the insolvency of a New SRO Member firm. . Loss of customer assets may take the form of shortfalls in the amount and type of assets which are held by the Member firm at the time of insolvency. Their objective is to return assets to customers or compensate customers when the assets are not available because the Member firm has become insolvent.
There are important limits on this coverage. For more details visit www.cipf.ca.
Effective January 1, 2023, the NSSC approved the Canadian Invesor Protection Fund:
Canadian Investor Protection Fund (CIPF):
Prior to January 1, 2023, the NSSC approved the following investor compensation funds:
Canadian Investor Protection Fund (Former CIPF)
Mutual Fund Dealer Association of Canada Investor Protection Corporation (MFDAIPC)
Ombudman for Banking Services and Investments (OBSI)
If you have a dispute about a registered person or firm that may have acted inappropriately (for example, by recommending investments that are unsuitable for you based on the information you gave them) and you have lost money that you wish to get back, you can submit a complaint to the Ombudsman for Banking Services and Investments (OBSI). OBSI is a free and independent service for resolving banking and investment disputes between participating firms and their clients and can recommend compensation of up to $350,000. For information on how to make a complaint to OBSI, see the process to get your money back.