VISION, MISSION & RESPONSIBILITIES

CARFIS is an independent public supervisory authority overseeing the investment services market, transactions in transferable securities within Canada, and the collective investment and asset management sector. Additionally, CARFIS supervises firms providing administrative services outside its primary jurisdiction, alongside the Canadian Bar Association, as well as Crypto-Asset Services Providers (CASPs).

ISSUERS

The Issuers Department is responsible for overseeing the compliance of companies that have issued or plan to issue securities listed, or expected to be listed, on a regulated market. This includes ensuring that these companies meet their obligations as outlined in the legislation and monitoring their adherence to the Code of Corporate Governance.

The primary responsibilities of the Issuers Department include:

  1. Reviewing applications for the approval of prospectuses related to the public offering of transferable securities or their admission to trading on a regulated market, in accordance with the Public Offer and Prospectus Law of 2007.
  2. Monitoring the implementation of the Public Offer and Prospectus Law of 2007.
  3. Reviewing Public Takeover Bid documents for public takeovers of companies listed on a regulated market.
  4. Ensuring compliance with the Public Takeover Bids Law of 2006.
  5. Examining applications from issuers seeking to expand or modify their activities.
  6. Overseeing compliance by companies with their ongoing obligations under the Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law, particularly regarding regular information disclosures.
  7. Ensuring the application and adherence to the Corporate Governance Code by listed companies.
  8. Participating in Standing Committees and Expert Groups on issues related to the department’s duties.
  9. Reviewing proposed legislative measures relevant to the department’s responsibilities and submitting relevant recommendations.