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58-656: The organization sets regulatory and investment industry standards and has quasi-judicial powers in that it holds enforcement hearings and has the power to suspend, fine and expel members and their representatives. CIRO was formed on January 1, 2023, through the merger of the Investment Industry Regulatory Organization of Canada (IIROC) and Mutual Fund Dealers Association (MFDA) as the New Self-Regulatory Organization of Canada (New SRO). On April 24, 2023,

116-607: A different version. A conference committee in the United States Congress is a temporary panel of negotiators from the House of Representatives and the Senate . Unless one chamber decides to accept the other's original bill, the compromise version must pass both chambers after leaving the conference committee. This committee is usually composed of the senior members of the standing committees that originally considered

174-869: A financial adviser, mutual funds, and investing via the internet. The CSA coordinates various annual investor education initiatives, including the Financial Literacy Month in November and the Fraud Prevention Month in March. The CSA publishes on its website a wide range of communications and public information tools, including news releases regarding newly adopted or proposed national or multilateral rules and regulations, investor education materials, enforcement reports and materials and investor research studies. Canada Other Standing committee A committee or commission

232-429: A large project's development team could be organized to solve some particular issue with offsetting considerations and trade-offs. Once the committee makes its final report to its parent body, the special committee ceases to exist. A committee that is a subset of a larger committee is called a subcommittee . Committees that have a large workload may form subcommittees to further divide the work. Subcommittees report to

290-457: A more direct and efficient service since each regulator is closer to its local investors and market participants. The CSA established a permanent Secretariat in March 2004 in Montreal to provide the organizational stability necessary for CSA to function efficiently. The CSA Secretariat also monitors and coordinates the work of various CSA committees on policy initiatives. The CSA consists of

348-428: A number that represents one of the 9 subject matter categories: The CSA's impact on most Canadians comes through its efforts to help educate Canadians about the securities industry, the stock markets and how to protect investors from investment scams. The CSA provides a wide variety of educational materials on securities and investing. It has produced brochures and booklets explaining various topics such as how to choose

406-490: A particular task or to oversee a specific area in need of control or oversight. Many are research or coordination committees in type or purpose and are temporary. Some are a sub-group of a larger society with a particular area of interest which are organized to meet and discuss matters pertaining to their interests. For example; a group of astronomers might be organized to discuss how to get the larger society to address near Earth objects . A subgroup of engineers and scientists of

464-581: A portal for filing exemptive relief applications. Regulatory cooperation occurs both at national and international levels for the CSA. Among themselves, CSA members work closely in the development of new policy initiatives and the continuous improvement of the regulatory framework for securities. They further coordinate its regulatory initiatives with the Joint Forum of Financial Services. Various CSA members are also active in international organizations such

522-480: A smaller group, but simply permit the assembly's full meeting body to consider it with the greater freedom of debate that is allowed to committees. These forms are to go into a committee of the whole , to go into a quasi-committee of the whole, and to consider informally. Passing any of these motions removes the limitations on the number of times a member can speak. The Standard Code of Parliamentary Procedure has informal consideration, but does not have "committee of

580-608: A specific provision in the charter or bylaws of the entity (i.e. a board cannot appoint an executive committee without authorization to do so). Members of the executive committee may be elected by the overall franchised membership or by the board, depending on the rules of the organization, and usually consist of the CEO and the Vice Presidents in charge of respective directorates within the organization. However formed, an executive committee only has such powers and authority that

638-546: A way to formally draw together people of relevant expertise from different parts of an organization who otherwise would not have a good way to share information and coordinate actions. They may have the advantage of widening viewpoints and sharing out responsibilities. They can also be appointed with experts to recommend actions in matters that require specialized knowledge or technical judgment. Committees can serve several different functions: Generally, committees are required to report to their parent body. They do not usually have

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696-467: Is a body of one or more persons subordinate to a deliberative assembly or other form of organization. A committee may not itself be considered to be a form of assembly or a decision making body. Usually, an assembly or organization sends matters to a committee as a way to explore them more fully than would be possible if the whole assembly or organization were considering them. Committees may have different functions and their types of work differ depending on

754-507: Is a mandatory, electronic document filing and retrieval system that allows listed Canadian public companies to report their securities-related information with Canada's securities regulation authorities. It is operated and administered by CGI Information Systems and Management Consultants Inc. (CGI), the filing service contractor appointed by the Canadian Securities Administrators. It is similar to EDGAR ,

812-462: Is clear what is being discussed). The level of formality depends on the size and type of committee, in which sometimes larger committees considering crucial issues may require more formal processes. Minutes are a record of the decisions at meetings. They can be taken by a person designated as the secretary. For most organizations, committees are not required to keep formal minutes. However, some bodies require that committees take minutes, especially if

870-433: Is granted its scope and powers over a particular area of business by the governing documents. Standing committees meet on a regular or irregular basis depending on their function, and retain any power or oversight originally given them until subsequent official actions of the governing body (through changes to law or by-laws) disbands the committee. Most governmental legislative committees are standing committees. This phrase

928-409: Is made with instructions and the motion is agreed to, the chairman of the committee in question will immediately report the bill or resolution back to the whole House with the new language. In this sense, a motion to recommit with instructions is effectively an amendment. In Robert's Rules of Order Newly Revised ( RONR ), the motion to commit has three variations which do not turn a question over to

986-466: Is that they be made up of qualified and knowledgeable people representing the best interests of the membership. In the case of business entities, their directors will often be brought in from outside, and receive a benefit for their expertise. In the context of nominations for awards, a nominating committee can also be formed for the purpose of nominating persons or things held up for judgment by others as to their comparative quality or value, especially for

1044-459: Is the umbrella for Canada's provincial and territorial securities regulators. CIRO is subject to CSA oversight and regular operational reviews. It operates according to its By-Law No. 1. Canadian Securities Administrators The Canadian Securities Administrators ( CSA ; French : Autorités canadiennes en valeurs mobilières , ACVM) is an umbrella organization of Canada's provincial and territorial securities regulators whose objective

1102-635: Is to improve, coordinate, and harmonize regulation of the Canadian capital markets . The CSA's national systems include the National Registration Database ( NRD ), a web-based database that allows security dealers and investment advisors to file registration forms electronically; the System for Electronic Disclosure by Insiders ( SEDI ), an online, browser-based service for the filing and viewing of insider trading reports; and

1160-587: Is used in the legislatures of the following countries: Under the laws of the United States of America, a standing committee is a Congressional committee permanently authorized by the United States House of Representatives and United States Senate rules. The Legislative Reorganization Act of 1946 greatly reduced the number of committees, and set up the legislative committee structure still in use today, as modified by authorized changes via

1218-585: The Canadian Association of Pension Supervisory Authorities (CAPSA); it also includes representation from the Canadian Insurance Services Regulatory Organizations (CISRO). The Joint Forum was founded in 1999 by CSA, CCIR, and CAPSA. The CSA brings together provincial and territorial securities regulators to share information and design policies and regulations that are consistent across

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1276-532: The European Parliament at a second reading. Although the practice has fallen out of favour in other Australian Parliaments, the Parliament of South Australia still regularly appoints a "Conference of Managers" from each House to negotiate compromises on disputed bills in private. In organizations, the term "conference committee" may have a different meaning. This meaning may be associated with

1334-750: The Investment Industry Regulatory Organization of Canada (IIROC). The NRD has two websites: the NRD Information Website, which contains information for the public; and the National Registration Database, for use by authorized representatives. The National Registration Search (NRS) contains the names of all registrants (individuals and firms) in Canada. The System for Electronic Document Analysis and Retrieval ( SEDAR )

1392-772: The North American Securities Administrators Association (NASAA), Council of Securities Regulators of the Americas (COSRA), and the International Organization of Securities Commissions (IOSCO), representing North-American, Pan-American, and international securities regulators respectively. Passport is a regulatory system that provides market participants automatic access to the capital markets in all Canadian jurisdictions, except Ontario , by registering only with its principal regulator and meeting

1450-566: The System for Electronic Document Analysis and Retrieval ( SEDAR ), a publicly-accessible database that contains all the required non-confidential filings related to publicly traded Canadian companies. The CSA serves a regulatory function comparable to that of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the United States. As an informal body,

1508-560: The CSA established the Policy Coordination Committee, which oversees CSA's policy development initiatives, facilitates decision-making, as well as acting as a forum for resolution of policy development issues, monitors ongoing issues, and provides recommendations to the CSA chairs for their resolution. Its members are the chairs of eight regulators—Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec, and Saskatchewan. As of May 2021 ,

1566-483: The CSA originally functioned primarily through meetings, conference calls, and day-to-day collaborations with the various territorial and provincial securities regulatory authorities. In 2003, the CSA was restructured into a more formal organization, in which the chair and vice-chair were elected by members to 2-year terms. In 2004, the CSA established a permanent secretariat , located in Montreal . Among other things,

1624-423: The assembly is considering a partial report of the committee. Otherwise, it requires a majority vote with previous notice ; a two-thirds vote ; or a majority of the entire membership . Under The Standard Code of Parliamentary Procedure , the assembly that has referred a motion or a matter to a committee may, by a majority vote, withdraw it at any time from the committee, refer it to another committee, or decide

1682-442: The case if they are in different parts of the country or the world. The chairman is responsible for running meetings. Duties include keeping the discussion on the appropriate subject, recognizing members to speak, and confirming what the committee has decided (through voting or by unanimous consent ). Using Roberts Rules of Order Newly Revised (RONR), committees may follow informal procedures (such as not requiring motions if it

1740-403: The committee might include building a business case for the project, planning, providing assistance and guidance, monitoring the progress, controlling the project scope and resolving conflicts. As with other committees, the specific duties and role of the steering committee vary among organizations. A special committee (also working, select, or ad hoc committee) is established to accomplish

1798-407: The committee reports its recommendations back to the assembly, the referred motion may be removed from the committee's consideration by the motion to discharge a committee. In the United States House of Representatives , a motion to recommit can be made with or without instructions. If the motion is made without instructions, the bill or resolution is simply sent back to the committee. If the motion

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1856-788: The committee's chair is Grant Vingoe, the acting chair and Chief Executive Officer of the Ontario Securities Commission . The CSA maintains several databases that contain information on public companies ' disclosure and insider reporting, the registration of dealers and advisers, and a cease trade order database (CTO). The National Registration Database ( NRD ) is a Canadian web-based database that allows security dealers and investment advisors to file registration forms electronically. (An individual or company in Canada who trades or underwrites securities, or provides investment advice, must register annually with one or more provincial securities regulators.) Created to replace

1914-413: The committees are public ones subject to open meeting laws . Committees may meet on a regular basis, such as weekly or more often, or meetings may be called irregularly as the need arises. The frequency of the meetings depends on the work of the committee and the needs of the parent body. When the committee completes its work, it provides the results in a report to its parent body. The report may include

1972-470: The conferences, or conventions , that the organization puts together. These committees that are responsible for organizing such events may be called "conference committees". A standing committee is a subunit of a political or deliberative body established in a permanent fashion to aid the parent assembly in accomplishing its duties, for example by meeting on a specific, permanent policy domain (e.g. defence, health, or trade and industry). A standing committee

2030-514: The country, ensuring the smooth operation of Canada's securities industry . By collaborating on rules, regulations, and other programs, the CSA helps avoid duplication of work and streamlines the regulatory process for companies seeking to raise investment capital and others working in the investment industry. As a result of the coordination efforts of the CSA, securities markets are governed by harmonized national or multilateral instruments, which are assigned uniform 5-digit numbers, starting with

2088-401: The filing system operated by the U.S. Securities and Exchange Commission for American public companies. Through registered filing agents, public companies file documents such as prospectuses , financial statements , and material change reports. In the interest of transparency and full disclosure, these documents are accessible to the public. The reports that are available on SEDAR indicate

2146-519: The fiscal health of public companies and investment funds, and investors who want specific materials on a specific company can search the SEDAR database for the company or investment fund. These searches can be made by company name, industry group, document type or date filed; its results are rendered in PDF format . The SEDAR database was established by the CSA in 1997. Documents filed with regulators prior to

2204-419: The governing documents of the organization give it. In some cases, it may be empowered to act on behalf of the board or organization, while in others, it may only be able to make recommendations. Governments at the national level may have a conference committee . A conference committee in a bicameral legislature is responsible for creating a compromise version of a particular bill when each house has passed

2262-608: The implementation of SEDAR may be available from the individual securities commissions; however, in the case of the British Columbia Securities Commission , historical filings are unretrievable and may have been destroyed. On July 25, 2023, the CSA transitioned from SEDAR to SEDAR+. SEDAR+ improves on the original database by consolidating it with the national Cease Trade Order and Disciplined List (DL) databases. Other updated features include extended operating hours, an integrated fee calculator, and

2320-596: The legislation in each chamber. Other countries that use conference committees include France, Germany, Japan, and Switzerland. In Canada, conference committees have been unused since 1947. In the European Union (EU) legislative process , a similar committee is called a ' Conciliation Committee ', which carries out the Trilogue negotiations in case the Council does not agree with a text amended and adopted by

2378-434: The matter is to be referred, and if the committee is a special committee appointed specifically for purposes of the referred motion, it should also specify the number of committee members and the method of their selection, unless that is specified in the bylaws. Any proposed amendments to the main motion that are pending at the time the motion is referred to a committee go to the committee as well. Once referred, but before

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2436-445: The membership in the committees may change. A nominating committee (or nominations committee) is a group formed for the purpose of nominating candidates for office or the board in an organization. It may consist of members from inside the organization. Sometimes a governance committee takes the role of a nominating committee. Depending on the organization, this committee may be empowered to actively seek out candidates or may only have

2494-461: The methods used, the facts uncovered, the conclusions reached, and any recommendations. If the committee is not ready to report, it may provide a partial report or the assembly may discharge the committee of the matter so that the assembly can handle it. Also, if members of the committee are not performing their duties, they may be removed or replaced by the appointing power. Whether the committee continues to exist after presenting its report depends on

2552-678: The name of the Canadian Investment Regulatory Organization (CIRO) was approved by its members. Andrew J. Kriegler is the president and chief executive officer of CIRO since January 1, 2023, after having served on the same position in IIROC since 2014. Tim Hodgson is a corporate director and chair of CIRO since January 1, 2023. CIRO operates under Recognition Orders from the Canadian Securities Administrators (CSA), which

2610-455: The orderly mechanism of rule changes. Examples of standing committees in organizations are; an audit committee, an elections committee, a finance committee, a fundraising committee, a governance committee, and a program committee. Typically, the standing committees perform their work throughout the year and present their reports at the annual meeting of the organization. These committees continue to exist after presenting their reports, although

2668-449: The original paper form system, the NRD increases the efficiency of information filing and sharing between provincial security regulators. In 2001, the CSA commissioned a study that estimated the total economic benefits of such a database to the Canadian financial services industry would be $ 85 million over a 5-year period. The NRD was subsequently launched in 2003, initiated by the CSA and

2726-430: The parent committee and not to the general assembly. When the entire assembly meets as a committee to discuss or debate, this is called a " committee of the whole ". This is a procedural device most commonly used by legislative bodies to discuss an issue under the rules of a committee meeting rather than the more formal and rigid rules which would have to be followed to actually enact legislation. " Central Committee "

2784-556: The power to act independently unless the body that created it gives it such power. When a committee is formed in a formal situation, such as committees in legislatures or for corporate bodies with by-laws, a chairman (or "chair" or "chairperson") is designated for the committee. Sometimes a vice-chairman (or similar name) is also appointed. It is common for the committee chairman to organize its meetings. Sometimes these meetings are held through videoconferencing or other means if committee members are not able to attend in person, as may be

2842-484: The power to receive nominations from members and verify that the candidates are eligible. A nominating committee works similarly to an electoral college , the main difference being that the available candidates, either nominated or "written in" outside of the committee's choices, are then voted into office by the membership. It is a part of governance methods often employed by corporate bodies, business entities, and social and sporting groups, especially clubs. The intention

2900-575: The purpose of bestowing awards in the arts, or in application to industry's products and services. The objective being to update, set, and maintain high and possibly new standards. A steering committee is a committee that provides guidance, direction and control to a project within an organization. The term is derived from the steering mechanism that changes the steering angle of a vehicle's wheels. Project steering committees are frequently used for guiding and monitoring IT projects in large organizations, as part of project governance . The functions of

2958-449: The question itself. Organizations with a large board of directors (such as international labor unions, large corporations with thousands of stockholders or national and international organizations) may have a smaller body of the board, called an executive committee , to handle its business. The executive committee may function more like a board than an actual committee. In any case, an executive committee can only be established through

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3016-575: The requirements of one set of harmonized laws. In brief, the system provides market participants with streamlined access to Canada's capital markets. Participants of the Passport system are the governments of all Canadian provinces and territories, excluding Ontario. To access the market in Ontario, non-Ontario market participants may use an interface system in which the Ontario Securities Commission (OSC) makes its own decisions, but generally relies on

3074-566: The review by the principal regulator. To achieve maximum efficiency for the benefit of the market, the passport regulators accept the OSC's decisions under Passport. The Joint Forum of Financial Market Regulators coordinates and streamlines the regulation of products and services in the Canadian financial markets . The Forum includes representatives of the CSA, along with those of the Canadian Council of Insurance Regulators (CCIR) and

3132-513: The secretariat monitors and coordinates the work of various CSA committees on policy initiatives. In 2016, the CSA adopted a passport system through which market participants can access to markets in all passport jurisdictions by dealing only with its principal regulator and complying with one set of harmonized laws. While the CSA co-ordinates initiatives on a cross-Canada basis, the 10 provinces and 3 territories in Canada are responsible for securities regulations and their enforcement. This provides

3190-963: The securities regulators of the 10 provincial and 3 territorial governments of Canada. The CSA Chairs are the respective chairs of the securities regulators of the 10 provinces and 3 territories of Canada. They meet quarterly in person. A chair and vice-chair of the CSA are elected by members for two year terms. Each CSA member has its own staff who work on policy development and deliver regulatory programs through their participation in CSA Committees, which can include permanent committees and project committees. The latter are formed to work on specific policy projects, and can deal with subjects such as short- and long-form prospectuses , continuous disclosure, proportionate regulation, and investor confidence. Standing committees include: Executive Directors, Enforcement, Market Oversight, Registrant Regulation, Investment Funds and Investor Education. In August 2003,

3248-405: The type of committee. Generally, committees established by the bylaws or the organization's rules continue to exist, while committees formed for a particular purpose go out of existence after the final report. In parliamentary procedure , the motion to commit (or refer ) is used to refer another motion—usually a main motion—to a committee. A motion to commit should specify to which committee

3306-408: The type of organization and its needs. A member of a legislature may be delegated a committee assignment , which gives them the right to serve on a certain committee. A deliberative assembly or other organization may form a committee (or "commission") consisting of one or more persons to assist with the work of the assembly. For larger organizations, much work is done in committees. They can be

3364-405: The whole" or "quasi committee of the whole". In Robert's Rules of Order Newly Revised , the motion to discharge a committee is used to take a matter out of a committee's hands before the committee has made a final report on it. A committee can use this motion to discharge a subcommittee. The vote required is a majority vote , if the committee has failed to report at the prescribed time or if

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