Under the Constitution of Canada, it is the provinces and territories that have the power to enact securities legislation. These laws are administered and applied by provincial securities commissions or equivalent authority.   

The Canadian Securities Administrators (CSA) is the council of Canada’s provincial and territorial securities regulators whose objective is to improve, coordinate and harmonize regulation of the Canadian capital markets.

It aims to achieve consensus on policy decisions which affect our capital market and its participants. It also aims to work collaboratively in the delivery of regulatory programs across Canada.

At its core, the CSA reflects the Canadian identity and regional interests and specializations, resulting in more diverse and valuable inputs into capital markets policy-making, which is in the Canadian public interest.

This coordinated and collaborative approach allows members to develop solutions to issues in the Canadian capital markets on a national level, while also addressing regional nuances, creating a uniquely Canadian outcome.