Compliance

Compliance

Compliance is responsible for the direct oversight of firms and individuals registered in the categories of portfolio manager, investment fund manager, exempt market dealer and scholarship plan dealer. The Manitoba Securities Commission (MSC) also registers firms and individuals in the categories of mutual fund dealer and investment dealer. These firms and individuals are members of self-regulatory organizations, being the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) respectively, and are subject to the compliance regimes of their respective SRO.

Compliance is responsible for monitoring firms and individuals for ongoing compliance with securities laws and regulations. This is accomplished by activities such as conducting on-site and desk reviews of firms, monitoring of capital requirements, participating in "sweep reviews" of targeted issues, and providing guidance through staff notices and outreach. Firms are reviewed both within Manitoba and in coordination with other provinces and territories, as members of the Canadian Securities Administrators (CSA).