The Commission possesses the authority and responsibilities granted by the Securities Regulation Code, Presidential Decree No. 902-A (as amended), the Corporation Code, the Investment Houses Law, the Financing Company Act, and other applicable laws.

As outlined in Section 5 of the Securities Regulation Code (Rep. Act 8799), the Commission's key powers and functions include:

(a) Overseeing corporations, partnerships, or associations granted primary franchises or licenses by the government;

(b) Developing policies on securities market issues, advising Congress and government agencies, and proposing legislative changes;

(c) Approving, rejecting, suspending, or amending registration and licensing applications;

(d) Regulating and investigating market participants to ensure compliance;

(e) Supervising exchanges, clearing agencies, and self-regulatory organizations (SROs);

(f) Imposing sanctions for regulatory violations;

(g) Creating, modifying, or revoking regulations, issuing guidance, and ensuring compliance;

(h) Collaborating with government agencies, enforcement bodies, and private entities for enforcement purposes;

(i) Issuing cease and desist orders to protect investors from fraud;

(j) Enforcing contempt sanctions per court rules;

(k) Compelling corporate officers to convene stockholder or member meetings;

(l) Issuing subpoenas, summoning witnesses, and ordering searches and seizures in investigations, subject to legal provisions;

(m) Suspending or revoking business registrations after due process; 

(n) Exercising additional lawful powers necessary to fulfill its mandate.

Under Section 5.2 of the Securities Regulation Code, jurisdiction over cases listed in Section 5 of PD 902-A has been transferred to general courts or Regional Trial Courts. However, the Commission retains jurisdiction over pending intra-corporate disputes for resolution within one year of the Code’s enactment, as well as suspension of payments and rehabilitation cases filed before June 30, 2000, until their final disposition.

Since only Sections 2, 4, and 8 of PD 902-A have been expressly repealed by the Securities Regulation Code, the Commission retains the powers specified in Section 6 of PD 902-A unless they conflict with the Code’s provisions.

We, the Securities and Exchange Commission, the trusted registrar and overseer of the corporate sector and capital markets, pledge to:

• Serve our stakeholders with the highest level of integrity and professionalism, ensuring compliance with customer, legal, regulatory, and other relevant requirements.
• Achieve excellence in our duties through continuous improvement of institutional capabilities and efficient resource management.
• Continuously enhance our quality management system, focusing on service, excellence, and commitment.

Our Mission is to provide effective supervision to ensure investor protection and foster the healthy growth of the securities market.

The CARFIS was established under Section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. Its operations are governed by the Laws regulating the Structure, Responsibilities, Powers, Organization of the CARFIS, and other related matters (N73(I)/1009).

Vision

CARFIS aims to position the Canadian securities market as one of the safest, most reliable, and attractive places for investment.

Mission

The mission of CARFIS is to provide effective oversight to protect investors and promote the healthy development of the securities market.

Responsibilities

The main duties and responsibilities of CARFIS are outlined in Article 25 of the Law regulating the Structure, Duties, Powers, Organization of the Securities and Exchange Commission, and other related matters (L73(I)/2009). These responsibilities include:

• Reviewing applications and issuing operating licenses to entities under its jurisdiction, as well as suspending or revoking these licenses when necessary.
• Overseeing the operation of the Canada Stock Exchange and other organized markets in the Republic, as well as the transactions taking place within these markets.
• Monitoring and regulating supervised agencies to ensure their compliance with applicable laws.
• Conducting investigations as needed to fulfill its legal duties or on behalf of foreign authorities.
• Requesting and gathering necessary information from individuals or organizations capable of providing required data to support its functions.
• Imposing administrative and disciplinary sanctions as specified by law.
• Mandating the cessation of practices that violate securities market regulations.
• Seeking court orders for the detention, seizure, freezing, or prevention of asset transactions when required.
• Issuing regulatory directives and decisions.
• Cooperating and sharing information with other public authorities within the Republic, foreign regulatory bodies, and other organizations.

CARFIS is responsible for overseeing operations and ensuring compliance with applicable legislation for the following entities:

• Canadian Investment Firms (EIFs)
• Canadian branches of Investment Firms (IFs) from other EU member states
• Tied Agents of EIFs
• Undertakings for Collective Investment in Transferable Securities (UCITS)
• UCITS Management Companies
• UCITS Agents
• Cyprus branches of UCITS Management Companies from other EU member states
• Administrative Services Companies, including Trustee and Fiduciary Service Providers
• Variable Capital Investment Companies
• Alternative Investment Fund Managers (AIFMs)
• Regulated Markets
• Central Counterparty Clearing Houses (CCPs) for over-the-counter (OTC) derivatives
• Trade depositories for OTC derivatives
• Crypto-Asset Services Providers

With the ongoing legal vetting of new legislation, CARFIS will also become the supervisory authority for Alternative Investment Funds (AIFs). Additionally, legislation governing the supervision of Central Securities Depositories (CSDs) is being prepared.

Beyond these responsibilities, CARFIS has been granted powers and duties under the following laws:

• The Public Offer and Prospectus Law of 2005
• The Insider Dealing and Market Manipulation (Market Abuse) Law of 2005
• The Public Takeover Bids Law of 2007
• The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law of 2007