Answer:
The Canadian Securities Administrators (CSA) is composed of provincial and territorial securities regulatory agencies, such as the Ontario Securities Commission (OSC) and the British Columbia Securities Commission (BCSC). These agencies work collaboratively to regulate and harmonize the securities industry in Canada.
Step-by-step explanation:
The Canadian Securities Administrators (CSA) is an umbrella organization of Canada's provincial and territorial securities regulators. Its objective is to improve, coordinate, and harmonize regulation of the Canadian capital markets. Each province and territory has its own regulatory agency that is responsible for overseeing the securities industry within its jurisdiction and is a member of the CSA.
For example, the Ontario Securities Commission (OSC) is the provincial regulatory body responsible for overseeing the securities market in Ontario and is a member of the CSA. Other members include the British Columbia Securities Commission (BCSC), Autorité des marchés financiers (AMF) in Quebec, and the Alberta Securities Commission (ASC), among others.
These regulatory bodies work together through the CSA to develop policies and regulations that are applied consistently across Canada. They also provide the CSA Passport System, which allows for a streamlined process for securities approvals across multiple provinces.