39 Questions
What is the mandate of Securities Regulators?
Protect investors from fraudulent practices
Which organization administers the jurisdiction's Securities Act or equivalent legislation?
Securities Regulator
What differs in regulatory requirements for firms regulated by provincial securities regulators versus self-regulatory organizations (SROs)?
The extension to non-securities related investment products
What is the primary goal of securities regulation by Securities Regulators?
Promote confidence in capital markets
Which organization has the power to grant or revoke registrations for mutual fund dealers?
Mutual Fund Dealers Association of Canada (MFDA)
What is the role of Canadian Securities Administrators (CSA) in the Mutual Funds industry?
Administering Securities Act
What sets its own standards for registration in the mutual funds industry?
Securities Regulators
What is NOT extended to related investment products for firms registered with provincial securities regulators?
Protection against fraudulent practices
What is the main objective of IIROC?
To enforce regulatory compliance in its membership
Which organization does not fall under the supervision of OSFI in Canada?
Investment dealers
What are the main functions of the CSF empowered by the AMF in Quebec?
Enforce rules through a disciplinary process
Which organization is responsible for liaising with provincial securities commissions and other financial institutions?
IIROC
What does IIROC focus on regarding the investing public?
Encouraging high practice standards
Which of the following is NOT within IIROC's principal activities?
Regulation of federal insurance companies
OSFI in Canada regulates which of the following?
Federally regulated private pension plans
Who is responsible for overseeing the training and ethics of Québec representatives dealing in investment funds that are not under IIROC supervision?
Chambre de la sécurité financière (CSF)
Which body is recognized as the SRO for investment dealers in Québec?
Investment Industry Regulatory Organization of Canada (IIROC)
What is the mission of Chambre de la sécurité financière (CSF)?
To oversee the training and ethics of members dealing in investment funds
In which province is registration for financial planning activities required?
Québec
Which body has the responsibility for ongoing regulatory compliance and continuing education requirements for mutual fund dealers operating in Québec?
Autorité de marchés financiers (AMF)
What does OBSI provide as an alternative to the legal system?
Arbitration
Which province has two monitoring bodies regulating securities?
Québec
Which entity is responsible for regulating mutual fund dealers operating in Québec?
AMF
What is the primary role of FINTRAC in Canada?
Detecting and preventing money laundering and terrorist financing
Which of the following entities is NOT mentioned as being monitored by FINTRAC in Canada?
Healthcare providers
What is the main objective of money laundering as defined under Canadian law?
To disguise the source of money derived from criminal activity
How does a common money laundering method involve using illegal money in the financial system?
By purchasing securities
What is the aim of terrorist financing?
Providing funds for terrorist activity
What is one way in which dirty money from criminal activities is transformed into clean money?
Difficult to trace its criminal origin and integrate it into the legitimate economy
Which organization is described as Canada's financial intelligence unit in the provided text?
FINTRAC
What is the main objective of FINTRAC as stated in the text?
Contributing to public safety by detecting and deterring money laundering and terrorist financing
What are the two primary sources of financing for terrorist activities mentioned in the text?
Countries, organizations, or individuals
What is one of the key responsibilities of a Dealing Representative under the PCMLTFA?
Identifying politically exposed foreign persons
How do terrorist groups generate funds from illegal sources?
Revenue-generating activities
What legislation was revised in June 2020 regarding terrorist financing?
Proceeds of Crime (Money Laundering) and Terrorist Financing legislation
What is a critical similarity between the funding methods of criminal organizations and terrorist groups?
Generating funds from illegal sources
What does FINTRAC stand for?
Financial Transactions Analysis Centre
In which of the following areas does a Dealing Representative NOT have a responsibility under the PCMLTFA?
Compliance with tax regulations
Why do terrorist groups need to find ways to launder illicit funds?
To use funds without attracting attention from authorities
Learn about the organizations involved in the regulation of the Mutual Funds industry in Canada, including Canadian Securities Administrators, MFDA, OBSI, IIROC, OSFI, and Securities Regulators in provinces and territories.
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