CIRO
CIRO is Canada's self-regulatory organization for investment dealers, mutual fund dealers, approved persons, and trading on covered marketplaces.
A practical guide to U.S. and Canadian securities and derivatives regulators, self-regulatory organizations, registers, rules, and disclosure systems.
North American market oversight is divided by country, product, institution, and regulatory function. Government agencies, provincial commissions, and self-regulatory organizations can all influence a transaction, but their rules, enforcement powers, registers, and dispute processes are not interchangeable.
| Authority | Use it for | Public evidence |
|---|---|---|
| Commodity Futures Trading Commission | U.S. futures, options on futures, swaps, derivatives venues, clearing, and covered intermediaries | CFTC rules and orders, industry filings, and NFA BASIC records |
| FINRA | U.S. member broker-dealers, registered personnel, brokerage conduct, and trade reporting | BrokerCheck, FINRA rules, disciplinary decisions, and TRACE |
| Municipal Securities Rulemaking Board | U.S. municipal securities dealers, municipal advisors, rules, and disclosures | MSRB rules and EMMA documents and trade data |
| National Futures Association | U.S. derivatives intermediary registration, membership, examinations, and arbitration | NFA BASIC, member rules, and disciplinary actions |
| Canadian Securities Administrators | Coordination among Canada’s provincial and territorial securities regulators | SEDAR+, National Registration Search, CSA instruments, and shared regulatory-action records |
| Canadian Investment Regulatory Organization | Canadian investment and mutual fund dealers, approved persons, and trading on covered marketplaces | CIRO dealer and adviser records, member rules, UMIR, and disciplinary decisions |
| Ontario Securities Commission | Securities regulation in Ontario within Canada’s provincial framework | OSC decisions, orders, registrant records, filings, and investor alerts |
The Securities and Exchange Commission is the U.S. federal securities regulator and oversees securities self-regulatory organizations including FINRA and the MSRB. It is maintained in the site’s broader Securities Market Regulation branch.
The CFTC, SEC, and OSC are public authorities. The CSA coordinates Canada’s provincial and territorial regulators but is not a single national enforcement regulator. FINRA, the MSRB, NFA, and CIRO are self-regulatory organizations with defined industry or market responsibilities and public oversight. An SRO can write or enforce rules within its authority, but it does not inherit every power of its supervising government agency.
Use the parent Securities and Derivatives Regulators page for the wider regulatory map.
This material is educational and is not legal, regulatory, compliance, securities, derivatives, tax, or investment advice.
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
CIRO is Canada's self-regulatory organization for investment dealers, mutual fund dealers, approved persons, and trading on covered marketplaces.
The CSA coordinates Canada's provincial securities regulators. Learn its role, local enforcement boundary, SEDAR+, registration searches, and limitations.
The CFTC regulates U.S. derivatives markets. Learn its jurisdiction, regulated entities, NFA BASIC checks, SEC boundary, and key limitations.
FINRA is the U.S. broker-dealer self-regulatory organization. Learn its role, BrokerCheck workflow, TRACE, SEC oversight, and limitations.
The MSRB writes U.S. municipal-market rules and operates EMMA. Learn its jurisdiction, SEC oversight, enforcement boundary, and disclosure checks.
The National Futures Association is the CFTC-designated self-regulatory organization for the U.S. derivatives industry.
The OSC regulates Ontario capital markets. Learn its mandate, CSA and CIRO boundaries, registration checks, SEDAR+ research, and limitations.