Alberta forex regulation
The CSA has noted an increase in complaints relating to Forex market participants from other jurisdictions seeking to attract customers in Canada.
Forex trading is generally regulated as trading in either a security or a derivative, and its regulation varies under applicable provincial and territorial securities and derivatives legislation.
Under either of these categories, firms or individuals seeking to offer Forex trading services be it by way of providing access to the market such as by acting as a broker or by providing advice with respect to trading, or both , must be appropriately registered in the province in which they intend to so act and must also be a member of the Investment Industry Regulatory Organization of Canada IIROC if they intend to offer forex trading services on margin.
For more details, please see National Instrument , Registration Requirements, Exemptions and Ongoing Registrant Obligations. Investors can use the CSA National Registration Search and also verify IIROC registration at http: In addition, in jurisdictions where Forex trading is regulated as trading in a security, such trading may also involve the distribution of a security and therefore be subject to the prospectus requirement in securities legislation unless the necessary exemptive relief has been obtained.
Living in Alberta Canada can't trade FOREX - The Lobby - omenejomy.web.fc2.com Forex Trading Forum
Some Canadian jurisdictions have not granted exemptive relief. For instance, Quebec has a qualification regime for entities, other than recognized exchanges or clearinghouses, that create or market derivatives offered to the public.
You ASC'd Blog
Customers must go through a registered broker to deal with a qualified counterparty who may also be the registered broker. A broker or dealer seeking to register in one or more provinces should thus consult the specific registration requirements in the province s it wants to offer its services.
Details can be obtained from the CSA website at http: Click on the desired province to verify how a broker or dealer can be authorized to practice in the selected jurisdiction. In the United States, the examination of existing Forex market operators by the United States Commodity Futures Trading Commission CFTC indicated many brokers and dealers lacked robust safeguards to protect consumers, while others were clear frauds.
The CFTC has issued a consumer advisory http: On July 20, , the United States Securities and Exchange Commission SEC also issued an investor bulletin highlighting some of the most significant risks that Forex transactions may pose for individual investors http: On December 5, , the European Securities and Markets Authority ESMA issued an investor warning with respect to Forex http: BCSC Inquiries Group British Columbia Securities Commission Tel: Charlene McLaughlin Manager, Legal Alberta Securities Commission Suite , th Street SW Calgary, AB, T2P 0R4.
CSA | Cease Trade Order | Overview
General Inquiries Financial and Consumer Affairs Authority of Saskatchewan Tel: The Manitoba Securities Commission Tel: Shirley Lee Director, Policy and Market Regulation and Secretary to the Commission Nova Scotia Securities Commission Tel: Susan Powell Legal Counsel Financial and Consumer Services Commission New-Brunswick Tel: Katharine Tummon Superintendent of Securities Prince Edward Island Securities Office Tel: Craig Whalen Manager of Licensing, Registration and Compliance Office of the Superintendent of Securities Government of Newfoundland and Labrador Tel: Louis Arki, Director, Legal Registries Department of Justice, Government of Nunavut Tel: Pretorius Manager Corporate Affairs C-6 Dept of Community Services Government of Yukon Tel: About CSA Overview Who We Are Overview Our Mission CSA Members CSA Structure CSA Business Plans What's New Letters, Statements and Other Reports Regulatory Cooperation Overview Pan-Canadian International Contact Us Investor Tools Overview Investing Basics What is investing Setting Goals Understanding Risk Working with Advisers Choosing an Adviser Client-Adviser Relationship Dealing With Disputes Are They Registered?
Understanding your Investments Be an Informed Investor Types of Investments Fund Facts: Overview Who We Are Overview Our Mission CSA Members CSA Structure CSA Business Plans What's New Letters, Statements and Other Reports Regulatory Cooperation Overview Pan-Canadian International Contact Us Overview Investing Basics What is investing Setting Goals Understanding Risk Working with Advisers Choosing an Adviser Client-Adviser Relationship Dealing With Disputes Are They Registered?
Some Canadian jurisdictions have issued cautions to investors: Specific areas of concern included: The absence of controls to ensure best execution. Misrepresentations as to past and future performance.
Trading is typically done on margin, compounding the risk. The non-institutional Forex market is almost completely speculative. Lack of internal supervision. Insufficient capitalization of firms. Insufficient or no disclosure of risks to the investor.