Exchanges, clearing houses, self-regulatory organizations and other regulated entities such as alternative trading systems and guarantee funds play an important role in the financial system in Québec and Canada, and are thus key aspects of our regulatory framework. Each of these entities must be authorized or recognized before carrying on business in Québec and must submit to AMF oversight. These entities help protect investors and promote the integrity and efficiency of the financial markets.
The AMF may, on the conditions it determines, delegate to a recognized organization the exercise of all or part of the functions and powers conferred on it by law. The AMF currently delegates functions and powers to the Investment Industry Regulatory Organization of Canada (“IIROC”), which regulates the activities of dealers with an unrestricted practice as well as the member markets.
The regulated entities carrying on business in Québec which are overseen by the AMF are: