Canada

The Securities Act (Ontario) is the main provincial legislation that governs capital markets, securities, and financial institutions in the province of Ontario, and is enforced and regulated by the autonomous Ontario Securities Commission (OSC). Passed in 1945 and consolidated into law in 1990, the Act enforces market integrity and safeguards the interests of investors via three principal regulatory pillars: mandatory registration of all market players, full and clear disclosure of pertinent financial information to the public, and strong regulatory powers to deal with insider trading or market manipulation. Since Canada operates under a system of securities regulation on a provincial basis, and not through an autonomous federal body, these are the laws applicable to anyone raising capital and providing investment advice in Toronto's financial market.