Choosing the right investment advisor is an important decision that investors must make in managing their personal finances. In Canada, anyone trading securities or in the business of advising clients on such securities must be registered with the provincial or territorial securities regulator, unless an exemption applies.
Check the National Registration Search for individuals outside Ontario or the Ontario Securities Commission Registrant List to find out if an individual or firm is registered in your province or territory and what product and services a firm or individual can offer or contact your provincial securities regulator. If you cannot find your advisor on these sites, he or she may be exempt from registration. If this is the case, contact your provincial securities regulator.
Members and their advisors may have been disciplined by an MFDA Hearing Panel ( which is an independent, impartial administrative tribunal with the authority to make binding decisions), or they may currently be involved in the MFDA discipline process. Click the links below to find if a Member or advisor is currently or has been involved in the MFDA disciplinary process. For more information, visit Guide to the MFDA Disciplinary Hearing Process.
Advisors may also have been disciplined by a provincial Securities Administrator; a list of provincial Securities Administrators can be found by clicking the following link, Canadian Securities Administrators. The Canadian Securities Administrators (CSA), composed of provincial and territorial securities regulators from across Canada, maintains a cross-jurisdictional Disciplined Persons List.
You can use the CSA Disciplined Persons List to search for any disciplinary action taken by a provincial securities regulator or self-regulatory organization against an individual. If your search produces any results, click on the name of the disciplined person to view further details and supporting documents. Please keep in mind that the CSA currently only shows the names of individuals that have been disciplined by certain provincial securities commissions, the MFDA and IIROC. For more information, visit Canadian Securities Administrators.